Gates invests in energy storage company

Is Bill Gates backing a new thermal storage startup?

Bill Gates ’ Breakthrough Energy Ventures is backing a new thermal storage startup, expanding its investments in long-duration power backup. Fourth Power converts renewable power to heat, storing it for future use.

Where is Gates Energy headquartered?

It moved to the Portland State Business Accelerator before expanding to its current 200,000-square-foot headquarters. The company is backed by Breakthrough Energy Ventures, Gates’ clean energy investment firm; SB Energy, a wholly owned subsidiary of SoftBank; and multinational chemical company BASF, among other investors.

Could fourth power save money on long-term energy storage?

Fourth Power’s technology could bring down the costs of long-term energy storage. High tension power lines and solar panels at the Dhafra solar power plant near Abu Dhabi, United Arab Emirates. Fourth Power in looking to store energy generated by renewables as heat for hours to days.

How much will form energy spend on battery storage?

Form Energy has previously said that it will spend less than $6 per kilowatt-hour of storage for its battery cell system, a steep cut that would make its offering competitive with fossil-fuel plants. The company’s co-founder and chief executive officer, Mateo Jaramillo, previously helped develop Tesla Inc.’s Powerwall battery storage system.