Energy Storage Start-up Spotlight: Geyser Batteries

In recognition of the vital role of energy storage in helping us achieve a zero-carbon energy system, Initiate's latest Start-up Spotlight series is focusing on those who are developing cutting-edge storage technologies. We are kicking off with an innovative battery solution that offers fast and environmentally sustainable power grid stabilisation, developed by Geyser Batteries.

Falling production costs and higher capacities have driven the uptake of battery technologies in utility-scale storage applications. And the expectation is the demand for and reliance on this technology in the coming years will to continue to grow. Something that is being increasingly recognised by governments and regulators.

According to Thomas Cornell, senior VP Energy Storage Solutions at Mitsubishi Power Americas, when he recently spoke with PV Tech Power: “Last year was a breakout year for the sector, to prove that on a utility-scale basis, battery storage is a viable, resilient and dependable source of energy.”

This upbeat assessment is perfectly illustrated by several projects coming on stream, such as National Grid’s second grid-scale battery storage system that will enable the addition of more renewable-energy capacity onto the UK grid.

As with everything in life, nothing is perfect. Issues such as shelf-life, durability and charge times of established battery technologies remain, while environmental and sustainability concerns are coming to the fore. The latter primarily relates to some of the raw materials used in battery production and the pollutants generated during the manufacture and disposal of large-scale batteries in particular.

One positive impact of those concerns, however, has meant there is an extremely active battery technology development field right across the globe, where entrepreneurs, start-ups and other small ventures are conducting some ground-breaking work to address those drawbacks and to move the battery storage market forward.

One of them is Geyser Batteries, which was a winner at last year’s New Energy Challenge.

This Finnish start-up has developed a proprietary technology that produces a new class of batteries that not only provides fast energy storage for power grids, but with a minimal environmental footprint.

Andrey Shigaev, co-founder and CEO of Geyser Batteries, explains.

What is your energy storage solution?

Geyser’s battery technology is a durable, safe and a truly sustainable energy storage solution ideally suited for rapid acceptance and release of electrical power – up to a million times.

Our batteries are therefore uniquely capable of solving a problem that arises with the transition to a low-carbon society, namely weak and unstable power grids.

Renewable energy integration and a simultaneous progression towards ever-greater electrification are putting an enormous burden on our power grids – from both the supply side and the demand side at the same time. They’re not adding up but multiplying problems, so that the risk and the impact of instabilities and blackouts in largely renewables-based grids are growing exponentially.

Energy storage that is capable of the rapid acceptance and release of electrical power stabilises the power grid and eliminates the risk of instabilities or blackouts by buffering the grid when supply and demand are out of balance.

Established battery technologies do not provide economically and ecologically viable solutions for such fast energy storage. But Geyser Batteries does.

We offer a new-class of high-power, high-cycling batteries that are specially designed for fast energy storage in the power grid – both behind and in front of the meter.

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What is your battery technology’s USPs?

By utilizing Geyser’s proprietary electrochemistry with an aqueous electrolyte in a bipolar cell design, our storage solution can provide unique features to our customers.

Our batteries can be rapidly charged and discharged up to 1 million times and are essentially maintenance-free.

They can also be safely discharged to 0 V (transport, handling), do not cause thermal runaway and are inherently fire safe.

Geyser's batteries do not contain conflict materials and organic solvents, are easily recyclable and already consist of >40% of renewable or recycled materials.

Combining these features allows us to offer minimal cost per charge, with minimal greenhouse gas emissions and maximum safety to our customers.

How will your storage solution genuinely contribute to the successful transition to a low-carbon future?

Geyser batteries’ solution helps solve one of the last remaining economical obstacles on our way to a low-carbon future, namely future proof energy storage at grid scale.

While renewable energy has become cheap and electrification of transport or heating is progressing rapidly, our power grids have become the weakest link in the energy transition.

The addition of energy storage can make them robust and ready for a low-carbon future.

And particularly for fast energy storage use cases like frequency stabilisation or fast charging infrastructure Geyser batteries are meeting the requirements of today and of the low-carbon future, while offering the minimal cost for customers and the environment.

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What have been the milestones in your journey so far and what is the next milestone?

Since our foundation in 2018 we have successfully proven our solution’s unique features in our own laboratory and in external tests. We have, for example, tested the cyclability of our devices beyond 1 million charge and discharges, and we have had ‘delivered energy and power’ confirmed by third-party testing.

A carbon footprint evaluation has shown that our batteries possess a 74% lower footprint than that of our main competitor.

Last year, we reached an important milestone to our industrialisation as we managed to automate the core manufacturing process (i.e. the cell assembly).

This will enable us to reach our next milestone, which is setting up a pilot production plant, with the production capacity and reproducible quality to supply our planned pilot installation with major corporate partners.

Our upcoming A-Round (Q2/3 2022) funding is going to help finance the pilot plant.

What words of wisdom would you share with a start-up at the beginning of their entrepreneurial journey?

Challenge your team, challenge yourself because the market will do it anyway. Pitch to everyone who is willing to listen, participate in competitions and always be open to feedback.

About the Start-Up Spotlight
Initiate's Start-up Spotlight aims to profile some of the most innovative start-ups and other small ventures in the energy transition space, and also generate greater awareness of the amazing innovative solutions and thinking that promise to make a genuine impact as we shift to a low-carbon future.

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