Energy storage firm Cadenza wins NYSERDA funding

Smart Grid Today

Staff Writer

Smart Grid Today

June 6, 2018

Cadenza Innovation, a provider of energy storage solutions for license to lithium-ion (Li-ion) battery manufacturers, was awarded funding for a demonstration project to further New York State’s nation-leading clean energy goals, the firm said yesterday. The project supports Gov Andrew Cuomo’s, D, energy storage target of 1,500 MW in New York State by 2025, it added.

NYSERDA is funding the project at the New York Power Authority’s (NYPA) headquarters in White Plains – a stand-alone system with a rack-mounted 200-KWH, 50-KW battery storage unit. The system will feature Cadenza Innovation’s Li-ion supercell technology, a unique design delivering high energy and improved safety at low cost, the firm said.

The project is expected to be completed by fall of 2019. NYPA is the nation’s largest state-owned electric utility, it added.

“Forward thinking demonstration projects such as this one will help begin New York’s progress to meeting Gov Cuomo’s bold goal of deploying 1,500 MW of advanced energy storage in New York by 2025,” said NYSERDA CEO Alicia Barton in prepared remarks. “Energy storage projects provide operational flexibility to enhance system reliability, reduce costs associated with meeting peak load, and facilitate better integration of renewable energy.”

“It’s a key tool for meeting New York’s bold vision for a cleaner, more resilient and more affordable electric system for all New Yorkers,” she added.

“NYPA is continually evaluating and deploying new and innovative technologies that enable us to have access to better, cleaner, more cost-effective grid services for our operations as well as our customers,” said NYPA CEO Gil Quiniones in prepared remarks. “This innovative battery technology will take us another step closer to greater integration of intermittent renewable resources and serve as yet another compelling example of New York State’s commitment to its citizens and a cleaner environment.”

Bloomberg New Energy Finance predicts the global storage market will double six times by 2030, with $103 billion in energy storage investment during that period, the firm said. Utility-scale projects and behind-the-meter applications will experience the storage sector’s strongest revenue growth, according to Navigant Research, it added.

Cadenza Innovation was founded in 2012 by a team of Li-ion battery experts to develop a low cost, safe, high-performance battery technology platform for license to global manufacturers, the firm said. The firm is initially targeting utility/grid storage and EV markets and has over 125 patents.

It recently patented a multicore Li-ion battery cell structure it calls the supercell, that serves as the cornerstone of its novel architecture and provides unparalleled simplification in battery pack design, it added. That, in turn, greatly reduces production and manufacturing costs, overcomes safety issues, and improves the energy density of Li-ion batteries.

“The world is moving beyond fossil fuels and traditional power plant infrastructures, with utility-scale batteries emerging as a core component for renewable electricity,” said Cadenza Innovation founder and CEO Dr. Christina Lampe-Onnerud in prepared remarks. “The cost savings achieved by lithium-ion alone are undeniable. By combining that with technology and design that substantially improves safety and energy density, we’re providing a first-to-market, scalable platform to address today’s energy concerns.”

Lampe-Onnerud transitioned in 2014 from her role at Bridgewater Associates to focus on the storage firm full-time, the firm said.

Among the world’s foremost authorities on battery chemistry and design, Lampe-Onnerud is a 20-year battery industry expert. A World Economic Forum Technology Pioneer, she shared insights into energy storage and climate change at Davos and for various United Nations groups, it added.