May 2nd, 2014
This week’s “Top 5” includes investment and workforce reduction for storage start ups, an expected California-like procurement plan for storage in Australia, a project for Mitsubishi in the US, and LG Chem applying storage to itself in South Korea.

Top5

1. Ambri raised $35 million from investors KLP Enterprises, Karen Pritzker and Michael Vlock, and Building Insurance Bern in C round. Historic investors Khosla Ventures, Bill Gates and Total also chipped in. “Ambri hopes to have its first scaled 20-kilowatt-hour units operational early this year, with 35-kilowatt-hour commercial units coming in 2015.”

2. Meanwhile, above ground CAES start up LightSail is laying off 15% of its workforce due to delay in one of its projects. LightSail is also funded by Khosla, Total and Bill Gates, among others.

3. “Queensland (Australia) electricity utility Ergon Energy is planning to set energy storage capacity targets out to 2020 as it seeks to further move its business model away from a sole reliance on poles and wires.”

4. Mitsubishi International Corporation will provide the first battery (1MW/500kWh) deployed in the MESA-1 energy storage project in Everett, WA. Parker Hannifin will supply the inverter and housing.

5. “LG Chem is applying energy storage systems to its plants in Iksan, North Jeolla, and Ochang, North Chungcheong. The two plants are expected to save 1.3 billion won ($1.24 million) every year.”

Best Regards