REDT UK has won the funding from an innovation competition run by Department of Energy and Climate Change to encourage energy storage research and demonstration.
REDT UK will share the £5m with another company, Moixa Energy, which has developed small battery-based storage units to be installed in homes to store power and re-use it at times of peak demand.
Energy and Climate Change Minister Baroness Verma said the investments “will give these organisations the boost they need to develop energy storage designs, helping cut costs and bringing new technologies to market in this sector”.
“The ability to store energy in this way will become increasingly important in the move towards a low carbon economy and I wish the winning organisations every success with their projects.”
Gary Simmonds, head of operations at REDT UK, said: “The timing of DECC’s energy storage competition is ideal for the company’s next stage of development – to design, build, and demonstrate larger scale, lower cost energy storage systems.