Airengy (TASE:ARNG) has signed a partnership agreement with European salt and chemicals producer Nobian to jointly develop a 2.5-gigawatt-hour compressed air energy storage (CAES) facility in Denmark.
The facility is planned to be connected to an existing salt cavern in Denmark operated by Nobian. This collaboration will focus on evaluating Airengy’s AirBattery technology.
Under the agreement, Nobian will be responsible for performing the works relating to the salt cavern, including regulatory and permitting processes, local communication, stakeholder management, and related infrastructure. Nobian will remain the cavern’s licence holder and operator.
Airengy will be responsible for the AirBattery system design, air compression, and electricity generation using proprietary technology it developed.
The project is part of Airengy’s two-phase strategy. Phase one involved Airengy forming partnerships for the construction and design of power plants with an output of 1–1.5 megawatts in Romania and England, while advancing in parallel the establishment of ‘large-scale’ power plants in Romania and, now, Denmark.
CAES technology is a solution for long-duration storage based on compressed air in salt caverns.
Nobian is a European high-purity salt, low-carbon essential chemicals, and underground energy storage caverns company.
Airengy is an energy company traded on the Tel Aviv Stock Exchange.
Write to Aaliyah Rogan at Mining.com.au
Images: Airengy