Scottish clean tech pioneer Innovatium Limited has attracted vital investment from Hitachi Industrial Equipment Systems Co., Ltd. (HIES) and the Scottish National Investment Bank (SNIB) to advance the rollout of its trailblazing PRISMA™ Advanced Liquid Air Energy Storage (LAES) system.
Designed for industries demanding robust energy solutions, the PRISMA technology offers long-duration, adaptable energy storage to support renewable energy diversifications. By liquefying compressed air using surplus electricity and converting it back to generate power, it facilitates sustainable energy storage with low emissions. This method ensures stability, cost-efficiency, and an environmentally sound alternative to conventional systems.
The freshly secured funding enables Innovatium to enlarge its team and expedite the commercialization of PRISMA. "This investment gives us the platform to scale-up significantly," noted Brian Jack, CEO. Partnering with a global entity like HIES empowers Innovatium to expand its offerings globally, catering to urgent needs for sustainable energy in sectors such as data centers.
Collaboration with HIES not only reinforces Innovatium's capabilities but also broadens its reach in international markets, leveraging HIES's vast industrial footprint. In response to sustainability challenges, this opens doors to multiple opportunities.
Simultaneously, backing from SNIB is a testament to Scotland's growing influence in the clean tech realm. Their endorsement highlights confidence in Innovatium's potential to innovate and support the UK's energy transition goals.
According to Ailsa Young, Investment Director at SNIB, Innovatium’s technologies can significantly diminish carbon emissions across various industries. This partnership stands as a testament to Innovatium's scalability and contribution to the zero-carbon agenda.
In alignment with the UK Government's 2023 Clean Power Action Plan, PRISMA positions itself as a cornerstone technology for enhancing the country’s energy infrastructure. As the UK focuses on boosting energy storage capacities, the development and commercialization of PRISMA by Innovatium offer a pathway to realizing these expansive goals.
The technology is particularly attractive to data centers — industries with surging power demands — offering a sustainable solution over traditional fossil-fuel systems. Simon Branch, Founder at Innovatium, affirmed, "Data centers are facing a perfect storm of rising energy demand, carbon pressure, and the need for greater resilience." The adaptability and sustainability of PRISMA could revolutionize energy strategies for such energy-heavy sectors.
Positioned to be a crucial player in the UK's clean energy landscape, Innovatium now stands at the fore of transforming energy storage capabilities with this strategic investment boost.
