Micro Finance Investment AG, a Swiss-based private equity fund, has announced that its battery company Nation-E is already in production slated for the market in 2010. A 1-megawatt battery could be a key component in storage system design for a smart grid application and renewable energy production.
One of the barriers to making full use of solar and wind energy is the ability to store energy when the sun goes down or the wind stops blowing. Traditional batteries have limited capacity and are expensive to produce if they are to be large enough to be capable of storing a significant amount of energy.
It seems that Nation-E has cracked the technological nut; the only disappointment is that the first planned real-world application is to be installed on luxury yachts.
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