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Agreement Marks Milestone in Commercial Validation, Paves Way for Additional Net Zero-Aligned Projects

AKRON, Ohio, Nov. 26, 2024 /PRNewswire/ -- Echogen Power Systems, a leader in sCO₂ energy systems, is pleased to announce the signing of an agreement with Westinghouse Electric Corporation, to pursue the deployment of Echogen's cutting-edge pumped thermal energy storage (PTES) technology for grid-scale, long-duration energy storage. This expanded collaboration marks a significant step in the commercial validation of our technology and its role in the global transition to a carbon-neutral future.

As industries and utilities around the world navigate the challenges of stabilizing renewable energy resources and reducing greenhouse gas emissions, long-duration energy storage (LDES) solutions like PTES are emerging as essential components in achieving a resilient, decarbonized grid. Echogen's technology will be a key enabler to help achieve the United Nations' COP29 announced global energy storage targets of 1.5TW. By providing reliable and sustainable energy storage for periods greater than what can currently be provided by lithium-ion solutions, the PTES technology is designed to store and dispatch renewable energy for up to 6-48 hours, to meet peak demand, helping to drive toward net-zero emissions.

"This agreement is more than a business milestone—it is a testament to the reliability and scalability of our PTES technology, its capacity to make a meaningful impact on the global energy landscape and our ability to swiftly deploy at scale," said Phil Brennan, CEO of Echogen. "By expanding our collaboration with Westinghouse, a global energy leader with projects totaling over 1.2 GWhr already in the Front-End Engineering and Design phase, and with multiple additional projects in the pipeline, we are laying the groundwork for a rapid deployment to accelerate the energy transition in a cost-effective manner." 

Dr. Tim Held, CTO of Echogen, explains, "PTES leverages Echogen's extensive technology development history in sCO₂ energy systems. PTES offers a unique combination of efficiency, low cost, safety and sustainability for energy storage that will enable large-scale deployment of intermittent renewable generation while maintaining grid reliability and stability. We are immensely proud of the engineering and technical achievements of our dedicated and resourceful team." 

Echogen retains the flexibility to engage with additional partners in pursuit of global expansion for its PTES solution. This GWhr scale solution has the potential to scale at a pace faster than the gigawatt factory alternatives. Echogen's goal is to make its technology widely and rapidly accessible across diverse geographies and sectors to accelerate the global energy transition.

About Echogen

Echogen Power Systems, headquartered in Akron, Ohio and founded in 2007, is a leading innovator in sCO₂ systems and clean energy technology, dedicated to developing sustainable and efficient solutions for long duration energy storage, high-temperature heat pumps and waste heat recovery.

About Westinghouse Electric Company

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.

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SOURCE Echogen Power Systems