Echogen Power Systems, a leader in sCO2 energy systems, is pleased to announce the signing of an agreement with Westinghouse Electric Corporation, to pursue the deployment of Echogen's cutting-edge pumped thermal energy storage (PTES) technology for grid-scale, long-duration energy storage. This expanded collaboration marks a significant step in the commercial validation of our technology and its role in the global transition to a carbon-neutral future.
As industries and utilities around the world navigate the challenges of stabilizing renewable energy resources and reducing greenhouse gas emissions, long-duration energy storage (LDES) solutions like PTES are emerging as essential components in achieving a resilient, decarbonized grid. Echogen's technology will be a key enabler to help achieve the United Nations' COP29 announced global energy storage targets of 1.5TW. By providing reliable and sustainable energy storage for periods greater than what can currently be provided by lithium-ion solutions, the PTES technology is designed to store and dispatch renewable energy for up to 6-48 hours, to meet peak demand, helping to drive toward net-zero emissions.
"This agreement is more than a business milestone—it is a testament to the reliability and scalability of our PTES technology, its capacity to make a meaningful impact on the global energy landscape and our ability to swiftly deploy at scale," said Phil Brennan, CEO of Echogen. "By expanding our collaboration with Westinghouse, a global energy leader with projects totaling over 1.2 GWhr already in the Front-End Engineering and Design phase, and with multiple additional projects in the pipeline, we are laying the groundwork for a rapid deployment to accelerate the energy transition in a cost-effective manner."
Dr. Tim Held, CTO of Echogen, explains, "PTES leverages Echogen's extensive technology development history in sCO2 energy systems. PTES offers a unique combination of efficiency, low cost, safety and sustainability for energy storage that will enable large-scale deployment of intermittent renewable generation while maintaining grid reliability and stability. We are immensely proud of the engineering and technical achievements of our dedicated and resourceful team."
Echogen retains the flexibility to engage with additional partners in pursuit of global expansion for its PTES solution. This GWhr scale solution has the potential to scale at a pace faster than the gigawatt factory alternatives. Echogen's goal is to make its technology widely and rapidly accessible across diverse geographies and sectors to accelerate the global energy transition.
