On April 13, 2016, Elestor moved to its new headquarters at the industrial park ‘Arnhems Buiten’, from building H40 to the monumental building B31.
‘Arnhems Buiten’, also known as the Dutch ‘Energy Business Park’, accommodates a number of important and innovative enterprises in the fields of Energy and Environmental Technology.
With the move to the new offices, Elestor anticipates further growth of the team and expansion of activities. The new location at B31 offers extensive laboratory facilities for R&D and Engineering, and has an infrastructure for large-scale production of Elestor’s storage systems.
Just before the end of 2015, the closing of the Shareholder and Participation Agreement with Enfuro Ventures and KIC InnoEnergy took place. The agreement forms a very important milestone in the development of Elestor BV, and covers the scale-up of the company during the next years.
In the words of Wiebrand Kout, founder and CTO of Elestor BV: “We were delighted to experience such a great deal of interest from the industry and financial markets. Our storage technology and business proposition received a lot of attention, from several, also international, parties. It therefore turned out that identifying funding opportunities was not our most challenging task. Instead, finding investors, not only capable of funding but also sharing and supporting Elestor’s philosophy and business strategy, indeed was.
Apart from providing the financial means to develop Elestor, we considered of equal importance that our investors themselves have a track-record as entrepreneurs, and as such act as our sparring partners and sounding board. In this respect, both Enfuro Ventures and KIC InnoEnergy are the perfect partners for realizing the anticipated growth of Elestor BV”.
In the same financial closing, Guido Dalessi, CEO of Elestor BV, joined the group of investors.
Enfuro Ventures invests in companies which are active in the field of renewable energy. Founded by Ruud Rijbroek and Erik Schut, two experienced entrepreneurs, Enfuro Ventures’ mission is to actively contribute to the transition to renewable energy. The companies in which Enfuro Ventures invests, get access to support in the fields of strategy, marketing, management, networking and finance. www.enfuro.nl
KIC InnoEnergy supported the founding of Elestor BV, so was already involved in the earliest days of the company. KIC InnoEnergy’s mission is to build a sustainable long-lasting operational framework amongst the three actors of the knowledge triangle in the energy sector: Industry, Research and higher education, and ensure that this integration of the three is more efficient and has a higher impact on innovation (talent, technology, companies) than the three standing alone. www.kic-innoenergy.com
Elestor BV forms DOAblE Consortium to investigate maximum economic value of electrochemical storage
‘Decentralized Storage of Alternative Energy’
(Dutch : ‘Decentrale Opslag van Alternatieve Energie – DOAblE)’
The ability to store electrical energy has become a precondition to maximize the generation of renewable energy. The technology to generate the various forms of renewable energy is widely available, however, the economics for integrating storage technology in order to maximize its added value is a very complex topic. The DOAblE project offers a unique opportunity to combine the knowledge and experience of top-level industry partners and knowledge institutes to create a scientifically underpinned picture of the highest potential options for electrochemical storage of electricity.
Early 2015, Elestor formed a consortium referred to by the name ‘DOAblE’ (a creative acronym for the Dutch translation of ‘Decentralized Storage of Alternative Energy’). The consortium partners Elestor, DNV GL, Alliander and TU/e (Group: Electrical Energy Systems), have entered a cooperation, which is funded by RVO under the ‘TKI System Integration’ program, for a period of 2.5 years. The program started in March 2015.
The 4 partners all hold an own unique knowledge position in the Netherlands, having extensive experience with model-based analysis of the electricity supply, with electrochemical storage, as well as with knowledge of the interfaces between storage and electricity networks.
The main challenge of the consortium is to investigate the value creation by integrating electrochemical electricity storage in the electrical energy systems. In other words, the question to be answered is where exactly in the value chain, electrochemical storage will create maximum economic value, and how this can physically be integrated into the value chain.
The individual knowledge and expertise of each consortium partner have shown to be highly complementary, though in overall fragmented.
The resulting reports offer guidelines for developers, legislators, investors and users, who are or will be in any form involved in electricity storage technology. These guidelines will describe how to optimize the application of electrochemical storage systems and how to realize a profitable business case by combining revenue streams.