Australian battery breakthrough to target industry
While working on the second life of electric vehicle batteries, a team of engineers came across a discovery that could change the rules of the game.
The Melbourne-based Relectrify team has developed a new “operating system” that can consume 20 percent more energy over the lifespan of most battery cells compared to traditional systems.
Jeff Renaud, the startup’s CEO, expects the technology to benefit the “missing middle,” that is, commercial and industrial users who are lagging both households and the grid in adopting power storage.
“The payback periods were not good enough for business owners to make that investment,” he told AAP.
The startup leader is confident that his business case can be “self-sustaining” with technology, with each extra kilowatt-hour translating into either generating revenue from the wholesale energy market or reducing tariff or retail power supply costs.
Mr Renaud said more industrial users moving towards battery storage would support the broader energy transition.
The company has secured $25 million from the Australian Renewable Energy Agency to accelerate the launch of its “AC1” battery product.
Darren Miller, chief executive of the federal government’s renewable energy innovation agency, said the startup had developed a “game changer” in storage technology.
“What started as a project to reuse end-of-life batteries has now evolved into a world-class battery management technology with the potential to transform energy storage,” Mr. Miller said.
The funding support is designed to help encourage early adopters in the hope that the business can eventually sustain itself.
The plan is to expand the 60-strong local team and increase production of Taiwan-made batteries to supply both industrial and utility-scale customers.
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