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The hybrid power solutions company is fast-tracking its overseas expansion due to the huge demand for mobile energy storage systems which could prevent emergencies like the loss of power in Texas earlier this year.
CNE has developed a revolutionary energy storage solution that meets the growing challenge of storing and using electricity produced from renewable sources. Using a range of mobile, modular energy storage systems with large capacity battery storage, CNE aims to increase green electrification and reduce carbon emissions, accelerating the world’s net-zero ambition. Their energy storage systems can store and deliver significant green power capacity to address inadequacy in power infrastructure.
The company, which has embarked on a £300m fund-raise and made several executive and non-executive appointments, is currently exploring locations for its first overseas base in Texas. The US state experienced a major power crisis in February this year as a result of three severe storms sweeping across the US. Half a million Texans were without power. CNE believes its battery storage solution can prevent this happening in the future.
CNE sales director, Philip Patterson, said: “Two things happened: sources of electricity, like wind turbines, went offline and demand for the energy they produce went up. The crisis drew much attention to the state’s lack of preparedness for such storms. Damages from the blackouts were estimated at $195 billion, making this the costliest disaster in Texas’ history.
“Battery storage is a vital in balancing the grid. Without storage, power emergencies such as those in Texas could occur again across the globe. With ongoing climate change, these events could become more frequent, so we believe the time to act is now and are getting into the US market early. Our vision is that our product range will help achieve greater efficiencies and build resilience into the Texas grid.”
CNE has invested heavily in game-changing technology to meet the growing challenge of storing and using electricity produced from renewable sources.
With a defined market strategy to become a significant player in mobile green battery storage market, CNE is raising funds to ensure it has the right level of capital to exploit the opportunity and build a business capable of creating and supporting hundreds of green energy jobs.
CNE ’s systems offer large capacity battery storage from 1MW to 5MW in the form of a mobile unit with a suite of smaller static modules that can also be combined to create mega storage banks. These can be customised to meet any size of customer power requirements at any location, potentially creating gigawatt storage systems.
CNE chairman and interim CEO, Mark Patterson, added: “The energy transition that is taking place will accelerate rapidly in the USA and presents a massive opportunity for CNE. Had I been 25 years younger, I would have seriously considered relocating there myself. As it is, we are presently recruiting for a CEO and looking for a suitable location in Houston where we will replicate what we are doing in the UK with local manufacturing and service in-country.”