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Nano-Edison SIGNED

The most viable stationary energy storage solution for grid applications

Total Cost €

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EC-Contrib. €

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Partnership

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Project "Nano-Edison" data sheet

The following table provides information about the project.

Coordinator
GREENVOLT NANOMA EHF 

Organization address
address: GRANDAGARDI 16
city: REYKJAVIK
postcode: 101
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Iceland [IS]
 Project website https://greenvolt.co/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-08-01   to  2019-11-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    GREENVOLT NANOMA EHF IS (REYKJAVIK) coordinator 50˙000.00

Map

 Project objective

Increasing share of renewable energy (solar and wind) into the EU energy mix is posing new grid management problems for operators. As the share exceeds 25%, it causes high levels of grid instability that can lead to supply insecurity and outages. As a result, EU electricity distribution operators will require €480 billion by 2035 to expand their networks to overcome challenges associated with integrating renewables if cost and service life of current energy storage technologies are not improved. The only two energy storage methods that have acceptable cost and life: pumped hydro-storage (PHS) and compressed air energy storage (CAES) do not have the required rapid response times and are severely limited by geographic restrictions. While battery energy storage (BES) systems have the required instantaneous response, current technologies are prohibitively expensive and have limited lifespans and have safety risks.

In response to this, Greenvolt Nanoma ehf, an Icelandic company uses nanotechnology to develop the first ever BES technology to meet all performance and cost criteria for grid applications. Our Nano-Edison battery’s costs and service life are comparable to PHS and CAES. Our solution is also tolerant to heavy currents, overcharging/discharging and even short circuits and can support pulse charging – making it ideal for capturing variable renewable energies.

As such, we have a unique advantage within the rapidly growing €7.34 billion global market for grid-scale battery storage. With a viable technology that enables grid operators to defer investments in costly network expansion, we seek to be the global leader in energy storage for stationary applications. We have estimated that we will need an additional investment of €3.5 million to achieve that and bring our technology to the market.

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The information about "NANO-EDISON" are provided by the European Opendata Portal: CORDIS opendata.

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