Electrovaya distributed energy storage systems will be installed in Bracknell, Berkshire. Photo credit: Frerix
Electrovaya has recently announced that its SuperPolymer 2.0 technology will be storing electricity in 25 independent, distributed energy storage systems in the UK. Scottish and Southern Energy Power Distribution will be making the purchase as part of the GBP£30m Thames Valley Vision project. The systems will deliver from 12.kWh to over 80kWh energy capacity.
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As reported in MarketWatch, battery manufacturer Electrovaya, Inc has announced a gross profit $493,000 (20.6%) in the second quarter of the year, and 24.8% for the six months ending March 31, 2012.
The report notes that the company’s working capital remains largely unchanged at $6.4 million, whilst revenues have fallen to $2.4 million in Q2, FY 2012 compared to $2.7 million in the same period in FY2011.