Esave Corporation secures Horizon 2020 Funding
In December 2014, Esave Corporation (Dublin, Ireland) received approval for the first phase of up to €3 million European Commission Horizon 2020 grant funding.
This Horizon 2020 SME Instrument is targeted at the EU challenge for the development of a low carbon and efficient energy system. Esave is only one of five Irish companies to secure approval in this funding round. Across Europe, there was a total of 1,944 applications, but less than 10% were successful. The Enterprise Ireland – Horizon 2020 Team provided valued assistance in fine-tuning the application. Innovative Energy Storage Solution The Esave Hybrid Energy Storage System is a flywheel/battery/power electronics solution that is ultra-fast and robust. It delivers power quality, additional capacity and ancillary services revenues for wind and solar generation assets. The system functionality provides grid balancing capabilities that will enable up to 75% instantaneous wind penetration on the grid, while also mitigating curtailment losses and eliminating the need for statcom technology.
Demonstration Project and Partnering Esave is planning a pilot installation under the auspices of the EirGrid Demonstration Project program. EirGrid will provide significant technical support. Additionally, the UCD Energy Institute – Electricity Research Center has agreed to partner in the project and bring extensive electrical research and modelling expertise.
Up to the end of September 2014, Esave had been progressing a planned pilot installation with Mainstream Renewable Power, but regrettably due corporate restructuring at Mainstream, they are now unable to proceed. We wish them the very best for the future.
Esave is now seeking a replacement windfarm or utility ‘Installation Partner’ to trial the system. We believe that the Installation Partner will benefit significantly from participation in the Demonstration Project. If this is of interest, please contact us.
Bigger Partnering Opportunities? Esave is also seeking potential partnering with other organizations to potentially secure Horizon 2020: Large Scale Energy Storage funding. The EU Commission considers that proposals in the range of €16 to €20 million would allow this specific challenge to be addressed appropriately. The total call budget is €189.5 million, the call opened in December 2014 and closes for applications in May 2015. Applications require three legal entities from three different qualifying countries. ~~~ END ~~~
About Horizon 2020
Horizon 2020 is the biggest EU research and innovation programme yet, one of the biggest publicly funded worldwide and has a budget of nearly €80 billion available over 7 years (2014 to 2020). Energy storage will play a key role in enabling the EU to develop a low-carbon electricity system.
About Esave Corporation Esave is a cleantech technology company that designs and manufactures Smart Grid Network Solutions that deliver superior power quality and energy storage to enable to increased revenues and reduced operational costs for wind and solar plant assets. The company is an Enterprise Ireland High Potential Start-up (HPSU) client. Esave is an IBM Business Partner and was a finalist in the IBM Global Entrepreneur Program in 2012.
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CONTACT FOR FURTHER INFORMATION:
Peter Haydon President and CEO firstname.lastname@example.org Head Office, 110 Amiens Street, Dublin 1, Ireland Office: +353 (1) 902 2010 Mobile: +353 (86) 852 6215 Web: www.esavecorp.com