Energy Vault, DG Fuels inks agreement for 1.6 GWh energy storage to support SAF projects
Energy Vault, Inc. ("Energy Vault") has announced that it has signed an agreement via an energy storage system with DG Fuels LLC ("DG Fuels").
In the agreement, Energy Vault has agreed to provide 1.6 gigawatt-hours (GWh) of energy storage capacity to support DG Fuels in several projects, with the first 500 megawatt-hours (MWh) to be realized in Louisiana. This first project will be followed by other projects in British Columbia and Ohio. has developed a process for making fuels through carbon conversion that aims to achieve a conversion efficiency of 93 percent, thereby reducing the amount of raw material required to make SAF and lowering production costs.
DG Fuels will use Energy Vault's gravity storage systems to provide green electricity in conjunction with photovoltaic solar energy and to bundle and shape the renewable energy to meet the demand for green hydrogen. Renewable energy is used to operate the HydrogenPro water electrolysis to produce hydrogen and oxygen.
Energy Vault's advanced gravity storage solutions are based on the proven physical and mechanical principles of energy storage by pumping water but replacing the water with custom-made composite blocks or "mobile masses" that do not lose their storage capacity over time. The composite blocks can be made from inexpensive and locally sourced materials, for example from excavated earth on the construction site, but also waste materials such as overburden from mines, coal incineration residues (coal ash), and glass fibers from discarded rotor blades from wind turbines.
In addition, Energy Vault's systems are designed to minimize environmentally and supply chain risks, which was a key factor in DG Fuels' final selection. The systems work automatically and are equipped with advanced computer control and image processing software that coordinate the charging and discharging cycles and cover a wide range of storage times from 2 hours to 12 hours or more.
Energy Vault expects this agreement to generate revenue of up to $ 520 million for the three projects, the first of which is expected to start in mid-2022.
Robert Piconi, CEO and Co-Founder of Energy Vault stated: "We are proud to work with DG Fuels and its partners to economically deliver renewable energy 24/7 and to help DG Fuels implement plans to efficiently deliver green fuel to support the aviation industry. Our energy storage systems are designed to maximize the use of local materials and encourage on-site job creation, adding to the sustainability benefits of DG Fuels' schedules. These projects will play a crucial role in reducing our dependence on fossil fuels, while also helping our country move forward towards its decarbonization goals. "
Michael C. Darcy, CEO of DG Fuels, said, "We are excited to work with Rob and the Energy Vault team to create their innovative energy storage system that best suits our needs for reliable, affordable, safe, and sustainable energy storage Fulfils. The Energy Vault system will play a critical role in our technology and vendor ecosystem in efficiently delivering SAF to the transportation industry. "
