(Image credit: Repono)
The European Union investment body EIT InnoEnergy have announced the launch of its new energy storage investment platform, Repono, on March 6. Repono is a platform for owning and operating energy storage assets across Europe and is targeting a 10% market share of an expected 1TwH market by 2030.
Prior to its full launch, Repono acquired the second-life battery storage firm BatteryLoop in November 2023. The company’s acquisition means Repono already has a fully operational energy storage systems in the Nordic region with 25employees. Repono’s launch did not specify which energy storage technologies would be prioritised but because of the projects scale, second-life energy storage technology would not.
Rapid deployment of intermittent renewable energy technologies has put Europe under stress because of higher energy prices and lack of energy security. Repono is designed to directly address these challenges. The company strategically manages storage to buy, charge, sell and discharge electricity at the right time, providing a 24hour decarbonised electricity supply.
Repono has access to EIT InnoEnergy’s 46+ energy storage investments and 800+ members in their ‘European Battery Theatre’. A significant target of the EU’s is to reach 42% of renewable energy by 2030, Repono will help deliver this.
For more interviews from Solar&StorageXtra and to keep up to date with all NEW content, subscribe to the Solar&StorageXtra YouTube channel and Newsletter!
To enquire about interviews, submit news and press releases please contact our Editor, Regan Slaymaker, regan.slaymaker@terrapinn.com. For sponsorship and exhibition enquires please contact Tom Moon, tom.moon@terrapinn.com.
