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Long-Duration Energy Storage Council Formed to Achieve Net-Zero Power Grid by 2040
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ESS Inc. CEO Eric Dresselhuys is founding member
WILSONVILLE, Ore.--(BUSINESS WIRE)--
ESS Tech, Inc. (NYSE:GWH) (“ESS” or “ESS Inc), a manufacturer of long-duration iron flow batteries for utility-scale and commercial energy storage applications, announces its participation in the Long-Duration Energy Storage (LDES) Council launched today at COP26.
The global, CEO-led LDES Council seeks to accelerate decarbonization of the energy system and provide guidance to governments and grid operators on how LDES technologies can help achieve this at the lowest overall cost to society. Between 85 and 140 terawatt-hours (TWh) of LDES deployment will be required to achieve grid net-zero by 2040, according to the Council’s forthcoming report set to publish on November 23, 2021. The Council also estimates that at least 1 TWh of LDES deployment is needed by 2025 to put the global power sector on track for full decarbonization by 2040.
“ESS commends the formation of the LDES Council and is proud to be a founding member of an organization committed to global decarbonization,” says ESS Inc. CEO and LDES Council founding member Eric Dresselhuys. “As an industry, we are uniting to provide our expertise and experience to accelerate energy sector transformation with long-duration energy storage as a key enabler of clean, reliable power grids.”
The LDES Council is made up of 24 technology companies, users and investors. Deployment of LDES technologies in line with its projections would require a $1.5 to $3 trillion investment and facilitate an increase in dispatchable renewable energy used to eliminate the 1.5 to 2.3 Gigatons (Gt) of CO2 produced annually, equivalent to 10-15% of today’s total power emissions.
ESS joins other LDES Council founding members that also include Alfa Laval, BP, Breakthrough Energy Ventures, Form Energy, Highview Power, Siemens Energy, and others.
The LDES Council is a global, CEO-led organization that strives to accelerate decarbonization of the energy system at lowest cost to society by driving innovation, commercialization and deployment of long-duration energy storage.
The LDES Council provides fact-based guidance and information to governments, industry and broader society, drawing from the experience of its members, which include leading energy companies, technology providers, investors and end-users.
About ESS Inc.
ESS Inc. (NYSE:GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information visit www.essinc.com.
