A significant injection of investment is poised to propel Fourth Power, a clean energy company, towards expanding its generation and storage capabilities. With a boost of $19 million in Series A funding, the company aims to construct a pioneering one megawatt-hour-e prototype facility near Boston, as announced in a statement on Business Wire.
Fourth Power’s breakthrough thermal battery technology harnesses renewable energy to heat carbon blocks to an intensity akin to the sun’s glow. This stored heat can subsequently be released on demand to supply electricity to the power grid, utilizing thermophotovoltaic cells to convert the energy. The thermal battery system, developed by professor Asegun Henry, clinched a Guinness World Record for achieving the highest temperature pumping of liquid metal, with liquid tin peaking at 2,192 degrees Fahrenheit (1,200 degrees Celsius).
The influx of funding will facilitate the establishment of a larger facility, enabling durability tests and recruiting additional engineers to meet the escalating demand for clean energy solutions. By offering enhanced control over energy utilization compared to conventional storage methods, Fourth Power’s system, coupled with the potential to expand storage duration through additional carbon blocks, promises to revolutionize clean power provision.
Fourth Power’s CEO, Arvin Ganesan, underscores the company’s mission to combat climate change by ensuring the reliability and scalability of renewable energy, positioning it as a pivotal resource for the grid throughout the day. Carmichael Roberts of Breakthrough Energy Ventures echoes the significance of reliable and scalable clean energy storage in shaping a zero-carbon future.
As the energy sector seeks to transition away from environmentally harmful fuels, battery storage assumes critical importance, especially given the intermittent nature of renewable energy sources like wind and solar. While lithium-ion batteries dominate the market, concerns regarding disposal, fire hazards, and cost underscore the need for alternative solutions.
Enter sodium-ion batteries, offering cost-effective production and the potential to address the shortcomings of lithium-ion technology. Concurrently, advancements in solid-state batteries hold promise for revolutionizing electric vehicles by enhancing range and performance on a single charge.
With innovative battery technologies poised to drive the transition towards renewable alternatives across various sectors, Fourth Power’s pioneering facility represents a significant stride towards a cleaner and more sustainable energy landscape.