Sydney-based technology company Ecoult will target the surging global market for battery storage as it commercialises the UltraBattery, invented in Australia, with the help of a $4.1 million grant from the Australian Renewable Energy Agency (ARENA).
Ecoult was spun out of the CSIRO in 2007 with the aim of furthering the development of the UltraBattery, a hybrid of a traditional lead acid battery and carbon ultracapacitor. Ecoult believes the hybrid technology provides an advantage over competing battery technologies as it exhibits both high cycling life and high conversion efficiency.
ARENA will provide a $4.1 million grant to support the commercialisation of the UltraBattery. The grant will be recoupable by ARENA upon successful commercialisation.
Ecoult recently entered into a global manufacturing agreement allowing the Australian developed battery technology to be marketed internationally. Ecoult holds a global licence to market the UltraBattery technology in all countries asides, from Japan and Thailand, where a technology partner holds the licence.