Thursday, February 26, 2015

News: Cumulus at Venturefest

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Cumulus Energy Storage (CES), a high-tech start-up based on the Advanced Manufacturing Park (AMP) in Rotherham, has been selected to pitch for a £50,000 prize at the 12th annual Venturefest Yorkshire conference next month.

Previously known as Wind Power Performance Ltd, and based in the AMP Technology Centre, Cumulus is developing prototype low-cost battery technology which can be developed commercially to cope with the rigours and requirements of the renewable industry.

Storing the electricity from intermittent energy sources such as wind and solar at source, or "grid level," is a key problem due to the mismatch between the availability of intermittent wind or sunshine and the changing demand for grid electricity. Cumulus has received a patent for its grid-level energy storage battery with 1MWh-100MWh storage capacity which it hopes to be the lowest cost battery technology in the world.

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Held at York Racecourse, Venturefest is a one-day, free entry event showcasing Yorkshire's most inspiring science, technology and innovative entrepreneurs. The largest event of its kind in the North of England, it aims is to present practical advice, ideas and funding options to innovative science, IP-creating, and technology oriented entrepreneurs and growing businesses.

The event's Investment Competition is organised by GrowthFunders and has attracted a record number of entries, not only from Yorkshire-based companies, but across the country. Eight finalists will pitch their business ideas in an attempt to secure a pot of prizes worth more than £50,000 that includes support from leading solicitors, HR experts and coaching and workshops from experts in raising finance.

Cumulus was one of 19 projects to secure funding from the latest round of the Government's Energy Entrepreneurs' Fund (EEF) that was established in 2012 to help bring a range of new and innovative low carbon products to market.

The Bi-Metal copper-zinc battery is based on existing industrial chemistry and architecture already used at a larger scale in mineral processing. The technology allows this to be used as a re-chargeable grid-storage battery, using inexpensive, recyclable materials.

Cumulus is on track to have a 20kWh battery grid-connected in June 2015 and is seeking additional finance to enable further product and business development.

The firm, which is based at the AMP and in San Francisco, was selected as one of the UK's most promising cleantech SMEs as part of the recent Clean & Cool Mission. This followed the first successful funding round which secured £250,000 from from investors as far ranging as Switzerland, Guernsey, London and Yorkshire.

Venturefest 2015 takes place on March 12.

Cumulus Energy Storage website
Venturefest website

Images: Cumulus

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