The co-founders of Adaptive Balancing Power (from left to right):
Can you tell us a little bit about your company?
We are developing a novel high power/low cost flywheel energy storage system. After seven years of R&D at Tech University Darmstadt, Germany we founded our company in 2016. Currently, our team of 11 experts is implementing the largest flywheel energy storage project in Europe. This pilot system will be tested in Ireland and England to improve grid stability. Our product will be available to European customers in 2018.
Which problem are you solving and how it is contributing towards a more sustainable energy industry?
In the short term, we are stabilizing electricity grids by upgrading the flexibility of conventional power plants. This minimizes the must run capacity of conventional generation and reduces unnecessary CO2 emissions. In addition to that we maximize the revenues of utilities and independent power producers in the Frequency Containment Reserve Market.
In the long term, we are aiming at providing CO2-free grid stability services. With our technology, conventional power plants can be turned off completely. Our system is maintenance-free, uses no toxic materials, has infinite lifetime and lower life cycle costs than our main competitor: batteries.
You attended EUW as a startup last year, can you tell us what you got out of the event and how Initiate! (may have) contributed to this?
As a startup trade fairs are always valuable in relation to market presence, finding new customers and networking in general, but are often hardly affordable. Last year’s Initiate! Hub at EUW gave us very good insights into the European energy market, helped us find new contacts and we are happy to be part of this year’s EUW Initiate! Accelerator Hangout in Amsterdam.
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