SCOTLAND could become a world leader in developing new technologies to store excess electricity production from wind farms, creating thousands of jobs, a leading business organisation has declared. Scottish Chambers of Commerce cited estimates 5,500 jobs could be created across 30 locations north of the Border, some of them rural, on the back of a £1.5 billion total investment in this field, if the full potential of the opportunity were realised. However, it acknowledged strong competition in this arena from the likes of California, which faces similar challenges in developing battery technologies to store excess electricity from solar power generation. Scottish Chambers of Commerce hammered home the importance of building a major presence in electricity storage technology as East Lothian-based Sunamp, one company which is trying to pursue opportunities in this field, announced a multi-million-pound fundraising. Liz Cameron, chief executive of Scottish Chambers of Commerce, said: “Scotland already has a significant installed capacity of wind energy infrastructure, but the future of this industry will be dictated by the development of new technologies to store excess electricity production for use at times of peak demand. Scotland has the potential to become a world leader in this area, with the right investment, helping to increase the efficiency and lower the costs of renewable energy as well as rooting skills and talent in Scotland.” Scottish Chambers of Commerce, setting out its views ahead of the Holyrood elections next week, also emphasised its belief that Scotland and the UK as a whole must develop their energy plans on a 50-year view to enable long-term investment. Sunamp, which has developed batteries that store renewable energy as heat for future use, revealed yesterday that it had raised a further £3.2 million development funding from investors as it eyes growth in international markets. “The global thermal energy storage market is expected to reach $1.8 billion by 2020 and we are excited about the potential of our product to solve a worldwide problem,” said chief executive Andrew Bissell, one of Scotland’s most successful technology entrepreneurs. “We are now ready for the next phase of expansion, and have our sights set on the North American markets, Europe and Asia-Pacific.” The Sunamp batteries can deliver heat and hot water on demand.
Herald 26th April 2016 read more »
Sunamp – the heat energy storage developer based in East Lothian – has raised £3.2 million in its latest funding round led by an international private investor in the energy market. Sunamp is gearing up to take on competitors – including Tesla Motors, the BPV giant (battery-powered vehicle) which has also entered the energy storage market.
Scottish Energy News 26th April 2016 read more »