Gates, Bezos bet on flow battery technology, a potential rival to big bets on lithium-ion

December 12, 2019

KEY POINTS

  • The U.S. energy storage market is expected to grow by a factor of 12 in the next five years, from 430MW deployed in 2019 to more than 5GW and a value of more than $5 billion by 2024, says Wood Mackenzie Energy Storage Service.

  • Tesla and GM are making big bets on lithium-ion batteries for energy storage systems and electric vehicles, but billionaire investors and venture capital firms are investing in competing battery technology, such as flow batteries.

  • Breakthrough Energy Ventures, the group of private investors led by Bill Gates and fellow billionaires Jeff Bezos, Michael Bloomberg, Richard Branson and Jack Ma, invested in iron-flow battery maker ESS in November.

     

     

     

     

     

     

     

     

     

read the full article on cnbc.com

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