Gates energy storage company

Which energy storage companies are backed by Bill Gates?

Bill Gates' Breakthrough Energy Ventures is backing long-duration storage companies ESS, Form Energy, and Ambri, among others, while gravity-based energy storage firm Energy Vault is expected to list on the NYSE after a SPAC merger of its own, valuing the company at $1.1 billion.

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.

How does energy storage work?

The company said its “thermal energy storage technology uses renewable energy to heat carbon blocks to temperatures so hot they glow like the sun,” and then later releases that heat “on demand to the grid as electricity.”

Why is energy storage important?

Le Scornet, a former global marketing executive for GE Renewable Energy, said, “As you know, energy storage helps mitigate these problems by storing excess electricity produced during periods of high generation and releasing it when demand is high.

Will energy storage be a priority for investors?

A report from Reuters Events, released Dec. 11, said increasing power generation from renewable resources and rising use of electric vehicles will make energy storage a priority for investors in the coming years. The report said storage technology will continue to play a major role in the energy transition as cleaner energy replaces fossil fuels.