EnergyPathways (AIM: EPP) has filed patent applications covering new thermal storage technology designed to improve the efficiency and commercial potential of its Compressed Air Energy Storage system.
The technology is being developed for the company’s MESH Long Duration Energy Storage project, which is planned at 300MW / 55GWh with more than 100 hours of storage duration.
The key advantages of its technology are:
· Lowers emissions costs: reduces CAES natural gas fuel usage and associated carbon emission and the cost thereof;
· Lowers cost of thermal storage: reduces the need for expensive high pressure thermal storage equipment in CAES;
· Multiple deployment opportunities: its compact surface footprint enables deployment in space-constrained locations such as offshore facilities, protected ecological areas, densely populated or community sensitive areas; and
· Pathway to near-term recurring revenues: the ability to showcase this innovative technology and enter into long term licensing agreements with a wide spectrum of clients worldwide, generating long-term annual recurring revenues through royalties and licensing fees.
The patents cover the storage of heat generated during air compression in sub-surface salt caverns, allowing that thermal energy to be recovered later and potentially increasing CAES round-trip efficiency to as much as 72%.
EnergyPathways said the technology could also reduce natural gas use and associated emissions, while lowering the need for expensive high-pressure thermal storage equipment.
The company also sees potential for the technology to be deployed beyond MESH, including in space-constrained locations, and said it could support future licensing and royalty revenues if adopted by third parties.
Chief executive Ben Clube said the patent applications strengthen the company’s technology platform and could support wider deployment of MESH-style storage systems in the UK and internationally.
Investors should note that the patent applications remain subject to the normal examination and grant process, while the potential efficiency gains, wider deployment and recurring licensing revenues are currently prospective rather than established commercial outcomes.
About MESH: https://energypathways.uk/mesh
