TEXAS: Mitsubishi Heavy Industries Ltd has joined the list of investors in startup Element Energy, which says its technology can prolong the life of batteries, including ones re-purposed from electric vehicles (EVs).The funding will help it launch a 50 megawatt-hour pilot project in Texas that redeploys used EV batteries to supply the grid.
That site – with the storage equivalent of about 5,000 home batteries – will go online early next year. Commercialisation is expected by the end of 2024.
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