(Alliance News) - Libertine Holdings PLC on Tuesday said it has entered a strategic partnership with battery storage firm Basebatt Ltd.
Shares in Libertine jumped 12% to 4.78 pence each in London on Tuesday morning.
The Sheffield, England-based technology platform solutions provider said the collaboration is to create hybrid renewable power systems.
Under the deal, the firms will secure partner commitments to form one or more demonstration programmes in response to a "trio of new enquiries" from an unnamed US containerised power generator company, a waste-to-energy technology company and a global data centre energy services company.
Libertine and Basebatt will collaborate on business development, technical development and pilot programme formation activities to create prototype demonstration units for intensive energy users.
Libertine Chief Executive Officer Sam Cockerill said: "Grid infrastructure in both developed and developing markets is insufficient to support the growing demand for energy services, especially as the use of intermittent renewables increases. Libertine's linear generator technology complements Basebatt's battery storage technology to provide a solution.
"Containerised hybrid power systems will help balance power supply and demand within micro-grids2 and behind-the-meter3 solutions by storing intermittent renewable power when there is a surplus and providing dispatchable clean power from renewable fuels when the battery storage is depleted," he added.
By Sabrina Penty, Alliance News reporter
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