
Green Energy Storage
Developing a new commercial energy storage system based on organic flow battery technology.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
investor | €0.0 | round | |
investor | €0.0 | round | |
* | €53.0m | Project, real estate, infrastructure finance | |
Total Funding | 000k |
EUR | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
---|---|---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | - | - | - | - | 127 % | 8 % |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% EBITDA margin | (245 %) | - | (1428 %) | - | - | - | - |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% profit margin | (400 %) | - | (2772 %) | - | (57 %) | 9 % | 11 % |
EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Green Energy Storage (GES), founded in 2015 and based in Trento, Italy, is a company focused on developing advanced energy storage systems to facilitate the transition to renewable energy sources. The firm was established by a team including Salvatore Pinto, who currently serves as the Chairman and is the majority shareholder. The initial concept was sparked by a visit to Harvard University to explore organic flow battery technology, which led to securing an exclusive license for its development and commercialization in Europe.
GES is developing a hybrid gas/liquid hydrogen battery technology platform. The system is designed around a patented manganese-based liquid electrolyte, where the battery internally produces the necessary hydrogen for a closed-loop charge and discharge cycle. This approach avoids the need for an external hydrogen supply system. A key feature is its use of abundant and eco-friendly materials like manganese, which enhances the sustainability profile of the storage solution. The company designs its entire system in-house, from cell materials and components like membranes and catalysts to the proprietary Battery Management System (BMS) software. This software incorporates AI and machine learning to optimize performance, safety, and the battery's lifespan.
The company's business model centers on manufacturing and selling these stationary storage systems. The technology is modular and scalable, allowing for designs tailored to specific client applications, ranging up to megawatt-sized solutions. This is achieved by the independent design of the power and energy modules. The target market includes applications requiring long-duration storage to solve the intermittency of renewable energy sources. The system is engineered for a long life cycle, with a forecast of over 12,000 cycles (equivalent to 15-20 years), which contributes to a competitive Levelized Cost of Storage (LCOS). Safety is another critical aspect, with the non-corrosive and non-toxic chemistry allowing the battery to operate at room temperature.
GES has secured significant financial backing to advance its research and development. In 2022, the company was granted access to €53 million in funds from the European Union and the Italian government under the IPCEI Batteries 2 project. This funding is dedicated to the R&D of innovative solutions across the entire battery value chain. The company has also raised capital through equity crowdfunding campaigns and strategic investments from partners like Repower and De Nora. The collaboration with De Nora, an electrochemistry specialist, aims to accelerate the development and optimization of the hydrogen battery prototype.
Keywords: stationary energy storage, hydrogen battery, flow battery, manganese electrolyte, Levelized Cost of Storage (LCOS), renewable energy integration, battery management system (BMS), long-duration storage, sustainable materials, electrochemical storage, grid-scale batteries, energy transition, modular battery design, closed-loop hydrogen, stationary applications, made-in-Italy technology, IPCEI batteries, De Nora partnership, Repower investment, energy technology