The two companies have agreed on the key terms for a non-exclusive Joint Development Agreement to develop and commercialise an integrated energy storage solution for Concentrated Solar Power, based on SaltX patented technology for large-scale energy storage – EnerStore. A first prototype will be built later this year, with the objective to secure a commercial pilot plant during 2018.
Solar power is currently limited by the challenges of storing the energy for the evening hours, whether generated by concentrated solar power (CSP) or PV. According to SaltX, its EnerStore large-scale storage solution enables solar-generated power to be stored cost-effectively.
“SaltX and Aalborg CSP complement each other perfectly - SaltX with its cutting-edge technology, and Aalborg CSP with its strong brand, global solar project portfolio and experience to engineer and build integrated energy systems” said Karl Bohman, CEO of SaltX Technology. “The market for Concentrated Solar Power (CSP) is expected to explode over the next three years, especially in China, Africa and India. It is therefore important to quickly position ourselves and to accelerate the development of EnerStore”.
Peter Badstue Jensen, Executive Vice President of Aalborg CSP, added that with the development of EnerStore, the company expects the competitiveness of its integrated energy systems to increase, allowing it to offer even better feasibility and improved return on investment for its customers.
The companies evaluated the technical and commercial pre-requisites for a collaboration during the spring and will now start jointly developing a solution that integrates the SaltX EnerStore technology into Aalborg CSP energy systems. The solution will then be marketed and sold to Aalborg CSP’s target customers around the world.
SaltX and Aalborg CSP intend to invest significant resources in the joint development project and will seek various types of external funding, both in Denmark and Sweden, for the development and testing of the prototype.