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Battery, pumped storage, power-to-gas and more
If we want to switch our energy supply to renewable energies, energy storage is a major challenge. Unlike fossil fuels, solar and wind power cannot simply be burned more or less as needed. Instead, the energy they provide must be captured when it is available – and stored accordingly. Now that we have Episode 6 of the podcast have already dealt with new solutions for energy production, this time we are talking about energy storage.
For this purpose there is many different approaches (from minute 1:40): Battery storage systems, for example, which store energy electro-chemically, or pumping and Compressed air storagethat store potential energy. Power-to-gas, which converts water into hydrogen or methane, is also a potential solution. Other solutions include heat storage, flywheel storage, and capacitors.
This episode focuses on battery storage, as they are currently the most widely used energy storage systems in Germany. According to the U.S. Department of Energy's Energy Storage Systems Program, 56 of the 97 active or planned energy storage systems in Germany rely on batteries. Pumped storage systems, some of which were built as early as the 1950s, make up the second largest group with 29 systems.
Building, maintaining and networking energy storage systems
A Munich startup that is completely dedicated to batteries is Stabl EnergyThe startup, founded in 2019, has developed a modular battery solution. This allows battery packs to operate not only at safe voltages but also with reduced energy losses. You can hear exactly how this works starting at minute 5:35. The startup also convinced investors with this technology: in 2020, it received seed funding from Energie 360°'s Smart Energy Innovation Fund.
The next startup is dedicated not to the construction, but to the monitoring and optimization of battery storage systems. Twaice (from minute 8:30) uses its software to create digital twins of battery systems. The Munich-based company uses these to analyze a battery's health in real time and predict its aging. This should enable the optimization of operating strategies for energy storage systems and proactive maintenance. The TUM spin-off has already successfully completed several financing rounds with this solution, most recently receiving over €21 million in a Series B round.
The next startup we are looking at is responsible for networking the individual energy storage systems. Gridx (from minute 11:35) offers xenon producers the opportunity to distribute their excess capacity or to obtain energy precisely when their production is low with its platform. The startup is focusing not only on photovoltaic systems and battery storage, but also on fuel cells, wall boxes, charging stations, and heat pumps. Founded in 2015, the startup has already garnered several awards and entered the US market with the German Accelerator in 2019.
Energy storage in a mechanical way
In a completely different way than battery startups, Gerotor (from minute 14:15) Energy. The last startup we'll look at in this episode has developed a flywheel energy storage system for machines and equipment used in industrial and manufacturing companies. This allows the machines to store kinetic energy, which they can then convert back into electricity when needed. This should enable both energy savings and significantly reduce peak loads.
Speedinvest under the microscope
To conclude this episode we take a look at the Vienna Venture Capital Fund Speedinvest under the microscope. Not only has the company supported Twaice from the beginning and also invested again in the current round, but the company is also very active in Munich in general. With precise ideas about its ticket sizes, the VC focuses on the areas of deep tech, fintech, industrial tech, network effects, and subscriptions & health. You can find out more starting at minute 16:50.
