The companies will develop liquid air energy storage projects in the US and Canada that “satisfy long duration energy storage requirements for utilities, independent power producers and other energy companies”.à‚ à‚
Marie-Claude Dumas, President of Clean Power at SNC-Lavalin, said: “Long duration energy storage such as Highview’s liquid air energy storage is one of the key technologies that will enable our utility and large industrial facility clients to maximize the value of their renewable energy investments through increased levels of integration with the grid.”
Highview’s proprietary liquid air energy storage technology is based on the principle of air liquefaction, which enables the easy storage of gases in cryogenic liquid form. The process involves a 700-fold expansion in volume from liquid back to gas, which releases the stored energy, powering turbines and generating electricity.
The company says this enables the system “to store energy in increments measured in days rather than hours, at half the cost of lithium-ion batteries, and while releasing zero emissions in the process. It utilizes long-proven technology with a system lifespan of over 30 years”.
Highview Power chief executive Gareth Brett saidà‚ SNC-Lavalin has “an impressive track record of utility-scale energy project deployments and we’re very confident in their ability to deliver sustainable, reliable, low-cost liquid air energy storage solutions that will have an expected operational lifespan of 30 to 40 years”.
According to recent data from analysts at Navigant Research, the utility-scale energy storage market is expected to be worth over $3.6bn by 2025.à‚
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