Siemens Inks Long-Term Pact with EnergyNest for Energy Storage Solns

Siemens Energy, a division of global technology giant Siemens, has recently entered into a long-term partnership with the Norwegian technology company EnergyNest.

EnergyNest, which is a startup in the space, is a supplier of thermal energy storage systems.

The two companies joined hands with an aim to jointly offer modularized and standardized thermal energy storage systems for industrial customers.

Billingstad-headquartered EnergyNest has developed a heat battery that can be charged with renewable energy or waste heat. This battery can discharge completely renewable steam directly into customers’ plants when required.

Moreover, it is expected that these batteries will reduce the demand for fossil generated heat and at the same time will increase the flexibility of the plants.

On the other hand, Siemens Energy has launched the ‘Future of Storage’ initiative with an aim to bundle knowledge and build an ecosystem of technology partners in order to offer energy storage solutions tailored to customers’ needs.

Under this initiative, the company has formed a global team of experts that covers all available energy storage technologies, from batteries to thermal and thermo-mechanical energy storage systems.

On the significance of the initiative, Anette Ossege-Schaffrath, who heads the team at Siemens Energy, explained: “We want to offer every customer the optimal energy storage solution that best suits their needs.”

“To do this, we need access to a broad portfolio of storage technologies. We need to have the necessary expertise and develop suitable business models. With Future of Storage, we are creating an important prerequisite for achieving these goals,” she added.

Commenting on the development, Jörn Schmücker, CEO Large Rotating Equipment at Siemens Energy and sponsor of the initiative, said that “Energy storage is the key to a decarbonized world. With ‘Future of Storage’ and our partner ecosystem, we will be able to offer our customers exactly the solutions that fit their needs – with the advantage of improving the efficiency and thus the profitability of their plants.”

Energy storage technology solutions are gaining traction these days with the rise of awareness about the use of renewable energy for power generation and consumption. Thus many companies are entering into tie-ups for energy storage solutions for example – Swedish company Azelio has recently entered into a Memorandum of Understanding (MoU) with Mexican, CITRUS JMK S.A DE C.V (CITRUS) to assess energy storage for agricultural, mining, food and beverage, tourism and the oil & gas industry in Mexico, North and Central America.

Moreover, Fluence, a leading energy storage technology solutions provider and a joint venture of Siemens and the AES Corporation, has recently secured 2,300 MWh of orders for the sixth-generation energy storage technology from key customers.