RE: RFC28 Sep 2024 13:42
Under the collaboration, Ceres has received an 8.4% stake in RFC Power in exchange for expertise needed to grow the company and its technology. Dr Mark Selby, Chief Innovation Officer of Ceres, will join RFC’s Board and Ceres will lend RFC both its technical expertise in engineering and electrochemistry, and its commercial experience in working with Fortune 500 corporations to produce new devices at scale. The deal also includes an option for the larger company to acquire RFC Power outright.
RFC Power, a spin-out from Imperial College London, has been developing a manganese flow battery, with the support from ShellGameChanger RFC’s long-duration storage technology has potential to contribute to the flexibility required by a low-carbon energy system, enabling the increased utilisation of locally generated renewable energy and reducing reliance on fossil fuels.
The next phase of the RFC- Shell GameChanger collaboration builds upon the successful demonstration of RFC’s technology in real-world conditions and will focus on validating the low-cost potential of the manganese flow battery at grid scale.