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Revenues from grid-scale storage to reach $68 billion by 2024

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The worldwide distributed energy storage market could be worth $68 billion from 2014 to 2024, according to a report by Navigant Research.

The report, “Energy Storage for the Grid and Ancillary Services” analyses the global market for grid-scale storage, with a focus on bulk and ancillary service applications.

EnerVault adds Denis Giorno to board of directors

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Denis Giorno added to EnerVault board of directors

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California-based energy storage firm EnerVault has appointed Denis Giorno to its board of directors.

Giorno currently works as CEO and president for Total Gas & Power New Energies USA. He joined the company 1975 and has held numerous, international management positions within the Total group.

Lockheed Martin buys Sun Catalytix assets

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flow battery

grid storage

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US aerospace firm Lockheed Martin has acquired assets from flow battery energy storage firm Sun Catalytix.

Sun Catalytix, an MIT spinout startup, will become a wholly-owned subsidiary and operate under the name of Lockheed Martin Advanced Energy Storage in the future. 25 employees along with patents and the company’s business plan will become part of Lockheed Martin. The financial terms of the acquisition were not disclosed.