We are delighted to announce that Teraloop’s application to the EU’s Horizon 2020 small-to-medium-sized Enterprise (SME) programme has been successful. Our project is now supported with a grant of €2.4 million facilitated by the EASME Agency of H2020.
The project is the deployment of an industrial pilot for our technology. The pilot flywheel energy storage device will be configured for the power management needs of energy intensive industrial consumers. This will help customers to increase the sustainability of their processes, while enabling cost savings through load management, and revenue generation through participation in regulated energy markets.