The challenge

Netherlands has set a target of almost 100% sustainable energy by 2050. CO2 emissions should be 80% to 95% lower than in 1990. We need a way to improve the energy transition and it needs to be inclusive. Renewable energy price fluctuations make it difficult for businesses to make long-term investments in renewable energy projects. Without a stable energy price, it can be hard for companies to calculate the payback period for their investment, which in turn can make it difficult to secure financing for projects. This is because lenders are often hesitant to finance projects with uncertain revenue streams.

The solution

Liquid Air Energy Storage (LAES) is a type of energy storage system that uses liquefied air to store energy. The process involves taking air from the environment, compressing it and cooling it to produce a liquid form that can be stored in insulated tanks. When the energy is needed, the liquid air is warmed and allowed to expand, driving a turbine to generate electricity. LAES has the potential to be used in the Netherlands to provide a stable renewable price, reduce grid tension, and help provide a payback system for those priced out of the personal renewables market.

Mission

To accelerate and democratise the energy transition