Electric Fuel Energy’s storage solution prepares the way for renewables toward battery storage grid and diesel parity
Beit Shemesh, Israel, March 2016 – Electric Fuel Energy (EFE) has developed a novel Iron Flow energy storage technology that is projected to be less costly, safer, and more environmentally friendly than other large-scale battery storage solutions. EFE is a newly formed subsidiary of Arotech Corporation (NASDAQ: ARTX), a leading provider of advanced power supplies and multimedia interactive simulators/trainers.
The EFE development team was drawn from leading Arotech experts with over 20 years of experience, and EFE thus holds a broad knowledge base regarding every aspect of battery development and energy storage. As considerable market growth is expected for stationary storage applications, EFE has made the strategic decision to enter this market segment and has successfully developed a tailor-made solution. The patent-pending Iron Flow battery will bring a breakthrough solution for stationary energy storage that is environmentally friendly, cost-effective, and safe. The new battery’s technology is particularly suited for renewable integration, load shifting, peak shaving, and other long-duration storage applications.
The new Iron Flow technology consists of a proprietary iron anode and a liquid cathode. This combination provides a solid foundation for a low-cost battery with an overall system price of $200/kWh, even at low manufacturing volumes.
