Battolyser Systems has signed a 40-million-euro financing deal with the European Investment Bank (EIB) to commercialize and scale the production capacity of its integrated battery-electrolyzer systems. The Battolyser can rapidly switch between hydrogen production through electrolysis and discharging the battery. This makes it possible to quickly react to electricity price fluctuations, which are expected to become more pronounced as more renewable energy sources are installed.
The financing will enable the company to scale its production facility in Rotterdam toward mass production of its combined electricity storage and electrolyzer stack system. The technology is currently operational at the RWE Magnum power plant in Eemshaven. Commercial deployment is scheduled for 2024.
“This technology has the potential to really change how we manage our energy,” says EIB vice president Kris Peeters. “Nowadays, solar panels and wind parks are sometimes shut down or throttled to avoid overproduction that can’t be stored anywhere. With the Battolyser, excess energy can be stored or converted into green hydrogen, thus reducing what’s called the cost of ‘missed energy’ in our grid.”