Carbon Neutral Energy (CNE) is aiming to raise GBP 300 million and create 200 jobs in the next 5 years.
The hybrid power solutions company, formed in early 2020 by energy industry veteran Mark Patterson and his two sons Harry and Philip, has invested heavily in game-changing technology to meet the growing challenge of storing and using electricity produced from renewable sources.
With a defined market strategy to become a significant player in the mobile green battery storage market, CNE is now preparing for a major fund-raising exercise to ensure it has the right level of capital to exploit the opportunity and build a business capable of creating and supporting hundreds of green energy jobs in Scotland.
Using a range of mobile, modular energy storage systems with large capacity battery storage, CNE aims to increase green electrification and reduce carbon emissions, accelerating the UK’s net-zero ambition.
The company’s innovative energy storage systems can store and deliver significant green power capacity to address the current inadequacy in the UK’s power infrastructure.
Mark Patterson, chairman and interim chief executive, says, “Green power has advanced but the challenge in storing that power leads to significant waste. The drive towards electrification, coupled with the rising need for energy storage, means there is a massive, global demand for our systems.”
“Capacity has been lacking for years leading to in excess of GBP 100 million of taxpayers’ money being spent year on paying windfarms to stop producing. This could be diverted into storage and delivering the power when we need it. This can significantly enhance grid capacity and fast-track green power distribution across the UK. Being able to deliver green power to remote sites, for example, is a game-changer for connectivity in relation to electric vehicles. The applications for sizeable electric storage systems are immense and the need is right now,” he continues.
CNE’s eGen range offers large capacity battery storage, using the latest technology with a safe and robust design, allowing for a 10-year lifecycle. The range of power capacity is from 1 MW to 5 MW in the form of a mobile unit with a suite of smaller static modules that can also be combined to create mega storage banks. These can be customised to meet any size of customer power requirements at any location, potentially creating gigawatt storage systems.
Harry Patterson, chief operating officer of CNE, says, “With the global drive to electrification we need to up our game when it comes to power storage. If we are to achieve net-zero ambitions, government will need to change strategy and invest significantly in battery storage. We believe we have developed a simple solution to a significant challenge, at precisely the right time, with a unique commercial offering that will allow rapid adoption across several sectors.”
“Our product can quickly and effectively help the transition to electrification by supplying clean, portable power while providing large-scale storage for that power. Through long-term contracts, we will supply the green power customers want to move to, minimising the major capex of costly infrastructure,” he adds.
The unique design of CNE’s product is entirely future-proofed and can be adapted as the technology advances. The company has invested in the most robust design, using some ingenious technology and control algorithms to maximise the duration of the battery cells for long-life and easy maintenance. Currently, this is focused on lithium-ion battery technology, but CNE will continually monitor developments to use whatever new and emerging technology can provide the best commercial advantage to the storing of power.