Spectrum Equity’s Post

💫 Benchmark welcomes Rho Motion as we significantly expand our lithium, battery supply chain and energy transition platform 💫 Benchmark is excited to announce the successful completion of its first major acquisition, Rho Motion, a leading energy transition data and market intelligence provider. The deal delivers a completely unique offering for clients - critical minerals, batteries, downstream EVs, powertrain technology, energy storage systems (ESS), rare earth permanent magnets, EV charging ecosystems, semiconductors and renewable energy. Combined, with nearly 250 employees, Benchmark and Rho Motion form the world’s biggest platform for prices, data and market intelligence dedicated to the full breadth of critical mineral and energy transition supply chains. With both companies headquartered in London, the deal positions the UK at the centre of this generational shift from fossil fuels to future facing, low carbon technologies. Simon Moores, CEO of Benchmark, said: "The combination of Rho Motion’s proprietary insights on the entire energy transition ecosystem coupled with Benchmark has a multiplier effect for both customer bases. This acquisition makes our offering completely unique and further reinforces Benchmark’s number one position in the battery, electric vehicle and energy transition market intelligence space." Adam Panayi, Managing Director of Rho Motion, said: “It is a great pleasure to be joining forces with Benchmark to form the first dedicated end-to-end data and market intelligence firm covering the energy transition from mine to grid. The combined expertise of the two companies will provide a complete solution to guide the trillion dollar challenge of building the future energy landscape.” You can read the full announcement here - https://lnkd.in/eXsJs23k

Redox One - A “MINE-TO-MEGAWATT” SOLUTION OFFICIALLY LAUNCHED Tharisa is pleased to announce the official launch of its Redox One (www.redoxone.com) business in Cape Town, South Africa, coinciding with the Africa Energy Indaba Redox One is at the forefront of developing long-term energy storage solutions needed by the world, using proprietary proven technology developed over decades, including by NASA, to deliver a ‘Mine-to-Megawatt’ solution at a fraction of the cost of competing technologies. At Tharisa, innovation has always been a critical element of the business model and with Redox One, the Company has developed technology through further beneficiating its chrome produced from its flagship Tharisa Mine. Redox One has a unique process for producing low-cost electrolyte directly for its flow battery technology. Chrome as the key ingredient means the electrolyte is safe, stable, and environmentally friendly. With direct access to cost-effective and nearly unlimited raw materials through the partnership between Tharisa and Redox One, the company has a stable supply of electrolyte for decades to come. With an experienced energy storage management team now firmly in place, Redox One has a fast-track development timeline, with demonstration batteries already in operation. Attending the launch, Phoevos Pouroulis, CEO of Tharisa, commented: “In our desire to enrich lives through innovating the resources company of the future, driven by innovation and our aspiration to extract maximum benefit out of the resources that we mine, the Redox One opportunity is a natural fit for Tharisa, not only utilising our own commodity for further beneficiation opportunities but working in tandem to find a solution for the world’s energy storage needs, in a safe, and affordable manner. The team we have assembled, the technology and IP that we have developed and the partnership approach Redox One is taking will underpin the success of Redox One and I look forward to large scale deployment of this critical energy storage solution, in a market that is poised to explode in value, expected to reach US$3 trillion by 2040.”

Member Stryten Energy has been awarded Phase 2 funding from the U.S. Department of Energy (DOE) to support the development of a domestic vanadium electrolyte manufacturing plant. This funding will back Stryten’s Securing America’s Vanadium Electrolyte Supply project, aimed at scaling the domestic production and commercialisation of vanadium redox flow #batteries (VRFB). Stryten will repurpose a shuttered facility in Augusta, Georgia, to establish a cost-effective domestic supply chain for vanadium #technology. As part of the DOE’s American-Made programme, the MAKE IT Prize Facilities Track evaluates competitors' readiness to construct manufacturing facilities. Phase 2 winners receive $4.5 million each, bringing their total prize winnings to $5 million. “This award will enable us to accelerate the manufacturing of vanadium electrolyte and establish the vertically integrated domestic supply chain needed to meet the growing demand for VRFBs in long duration energy storage applications,” said Scott Childers, Vice President of Essential Power at Stryten Energy. Through advanced lead, lithium, and vanadium redox flow batteries, Stryten Energy is utilizing #LDES technology to provide sustainable, reliable #energy solutions and accelerate #decarbonisation globally. The #Time4Action is now to ensure #3xRenewables by 2030. To learn more, click below:

#GridScaleBatteries #IronAirBatterySystems #FormEnergy #JessicaUhl #GEVernova "American energy storage company Form Energy, Inc. announced a $405 million Series F financing round led by T. Rowe Price. The Series F brings Form Energy’s total funds raised to date at over $1.2B. In addition to participating in the Series F financing round, GE Vernova and Form Energy have signed a Memorandum of Understanding regarding areas of strategic collaboration to support Form Energy as it continues to ramp manufacturing operations and commercial deployments of its iron-air battery systems. “To meet the urgent demands to modernize the grid and enable higher renewable energy generation, it’s essential to speed up the rollout of affordable technologies that can decarbonize the power grid while ensuring it remains secure, reliable and resilient," GE Vernova President Jessica Uhl said. "We’re proud to collaborate with Form Energy, sharing our deep manufacturing and engineering expertise, to support their ambitious journey to scale in the U.S. and globally. Form’s innovative 100-hour iron-air battery systems can be a game-changer, and we’re excited to play a role in helping them achieve global impact.” In May 2023, Form Energy broke ground on Form Factory 1, its first high-volume manufacturing facility in Weirton, West Virginia. Just a year later, the company completed the construction of the 550,000-square-foot facility, installed new manufacturing equipment and initiated trial production of its breakthrough iron-air batteries. With over 900 employees, including 300 at Form Factory 1, the company plans to grow its team further as it ramps up high-volume production in the coming months. By 2028, Form Factory 1 is projected to have more than 1 million square-feet of manufacturing space, employ at least 750 people and have an annual manufacturing capacity of 500 megawatts, at minimum."

With Dominion Energy forecasting demand to reach as high as 10 gigawatts by 2035 for data center use in Virginia they are looking for solutions to decarbonize their energy sources. It is amazing to see them partnering with a Canadian Tech story GH Power and the US Department of Energy that will revolutionize the aluminimum industry in the area, but also change their green hydrogen and green energy supply. Virginia is the mecca of the hyperscalers and will soon be at the forefront of using Metals as a green fuel source. https://lnkd.in/gqyiuHM2

TAE Technologies’ approach to fusion will have an impact beyond the consumer power grid ⚡ With fusion’s potential to provide clean, safe and continuous on-demand energy, we can provide commercial power and the emissions-free heat needed to decarbonize industrial manufacturing and other energy-intense technologies, like Direct Air Capture (DAC). It’s why we’re thrilled to announce a new memorandum of understanding with Oxy Low Carbon Ventures to explore commercial opportunities that use our fusion and power management innovations to provide carbon-free power and heat to Oxy’s Direct Air Capture facilities. “Oxy Low Carbon Venture’s desire for emissions-free energy makes this the perfect moment to explore the deployment of our commercial-ready power management products, while the growing demand for large-scale power generation can be served by our future fusion offerings,” said TAE Technologies CEO Michl Binderbauer. Read more on our announcement with Oxy:

Life's irony: I graduated with a degree in Nuclear Engineering in the late 90's. I wanted to work on a Fusion reactor and solve the world's energy shortage. Unfortunately, at the time, there were no appropriate nuclear engineering jobs available for me... The irony is - it took me to join Oxy's CO2 Direct Air Captuting (DAC) project to finally explore how the Nuclear Fusion reactor technology can help with our DAC technology!!!

I am loving the insights from a recent Q&A with Landon Mossburg - CEO & Founder of Peak Energy Landon's journey from Tesla to founding Peak Energy in 2023 highlights his commitment to revolutionizing the energy sector. His vision for Peak Energy is to industrialise sodium-ion technology for the next-generation of stationary energy storage. For a deeper dive into Landon's strategies and the future of Peak Energy, check out the full interview in Energy Digital here. CC: Energy Digital Magazine

The future of America's energy storage is calling for a revolution in battery technology. While lithium-ion has dominated the market, there's a growing need to explore alternative options to build a more resilient and flexible power grid. These emerging technologies offer unique advantages, including longer life spans and safer operation, making them ideal for large-scale energy storage applications. By embracing a broader spectrum of battery technologies, we can enhance the integration of renewable energy sources and ensure a more sustainable energy infrastructure. #EnergyStorage #BatteryDiversity #RenewableEnergy #SustainableEnergy #innovation Read more at Energy Storage News: https://lnkd.in/eTH6gZxy

Battery Energy Storage Systems (BESS) are experiencing remarkable growth, with the industry projected to reach $120 billion to $150 billion by 2030. BESS are also transforming the energy industry by allowing efficient grid integration and optimising the use of renewable energy sources, accelerating the transition to a greener future. From breakthroughs in battery chemistry to smart grid applications, innovative cutting-edge technologies are transforming the future of energy storage. While BESS has gained immense momentum in certain places, there are still undiscovered markets with enormous potential that need to be explored. Investing in BESS can be a lucrative endeavour, but it necessitates thorough consideration of the economic conditions. Overcoming cost-related challenges, guaranteeing safety, preserving supply chain resilience, and ensuring long-term sustainability remain challenges. Join the SSCG #Battery #Energy #Storage #System (#BESS) Forum on "The Future and Potential of BESS: Market Trends, Investments, Manufacturing, Technologies and Supply Chain" on Tuesday, 04 April 2024, between 10:00 - 12:00 BST. Join our discussion we delve into the rapidly growing BESS market and highlight the latest trends and investment opportunities. From the increasing demand for renewable energy integration to the need for grid stability and resilience, BESS has emerged as a game-changer in the energy sector. We will discuss the key factors driving the market growth and provide insights into potential investment avenues for individuals and businesses looking to capitalize on this booming industry. Find more and register to join https://lnkd.in/euKSUG5a