Successful application to H2020 SME-Instrument Phase 1
Teraloop is proud to see its application to the Small and Medium-sized Enterprises Instrument phase 1 granted by the European Union’s Horizon 2020 EASME Agency. The funded five months project is entitled “A highly scalable grid-scale energy storage system utilising 3rd generation flywheel technology for effective integration of renewable energy. – Teraloop ESS”. The project is supported with a grant of €50,000 facilitated by the EASME Agency.
The project is the gateway to a three phase programme and marks the beginning of Teraloop’s cooperation with the valuable European networks of innovators and partners. It is dedicated to market & technical feasibility: “to complete market analysis – define requirements and favourable market conditions. Find a demonstrator partner and explore engineering requirements”.
Future developments planned for Teraloop include the phase 2, dedicated to the deployment of an industrial demonstrator for Teraloop’s technology, and phase 3, dedicated to the commercialization of Teraloop’s technology.
Ultimately, Teraloop recognises that its vision and mission will be best delivered through strategic partnerships with investors, technology companies, the energy storage industry and the public sector.
Teraloop Ltd, founded in 2014 in Helsinki, Finland, develops breakthrough technology for large-scale kinetic energy storage used in grid and utility applications. Founded in 2014, Teraloop’s patented core technology has been applied to a kinetic energy storage system, which builds on existing proven and deployed technologies. The result is an innovatively configured system for grid-scale storage with a minimized visual and environmental footprint.
Following an investment from Yaskawa Electric Corporation, the company is implementing a grid-connected industrial prototype in partnership with a consortium of Nordic technical co-contractors as a step towards building a commercial pilot system in 2019.
About Yaskawa Europe
Yaskawa was founded in Kitakyushu, Japan in 1915. At first, it delivered motors and conveyor systems to coal mines. In its one hundred years, the company has grown its turnover to EUR 3.6 billion and employs nearly 14,500 people in 29 countries throughout the world.
Based in Eschborn, Germany, YASKAWA Europe offers mechatronics and robotics solutions for companies throughout Europe, the Middle East, Africa and the CIS states. With subsidiaries in these regions and European production sites, we are within close reach of the markets’ requirements.
Since late 2012, VIPA has been part of the YASKAWA family, where it joined Drives & Motion and Robotics as a third division. The company is based in Herzogenaurach, Germany, and develops and produces PLCs, I/O systems and advanced industrial HMIs.
About The Switch
The Switch, a Yaskawa company, is a pioneer in advanced drive train technology. The company has an installed base of over 13 GW of megawatt-class permanent magnet machine and converter packages. The main focus areas are marine, wind and special industrial solutions. The company’s innovative drive trains make an impact on profitable power generation and energy use, with the ultimate goal of lowering the cost of energy and operations.