GlobeNewswire by notified

Quino Energy Announces 100kWh Pilot and Plans for Global Expansion

Share

Cementing its position as a leader in the flow battery industry, Quino Energy will expand in the European Union and prioritize pilot development and commercialization of its organic flow battery technology

SAN LEANDRO, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Today, Quino Energy, a company developing water-based organic flow batteries originally invented at Harvard University, announced its 10 kW / 100 kWh prototype is now operational, using material produced using its zero-waste, continuous flow production process that achieved Manufacturing Readiness Level 7 (MRL) earlier this year. The Company also shared plans to expand its production footprint into the European Union and prioritize field pilot development and commercial sales on a global scale.

This milestone adds to the company's recent successes with a 6 kW / 24 kWh pilot system and two other 1.5 kW / 6 kWh systems currently operating at its facility. With these pilot systems, Quino Energy has demonstrated its chemistry working in full systems – originally designed for vanadium but adapted for use by Quino Energy with minimal modifications – made by two separate flow battery OEMs. Notably, all four lab pilot systems use the same full-size stacks found in megawatt-scale systems and active material made in Buffalo, NY by Electrosynthesis Company, Quino Energy’s Department of Energy (DOE) project partner. As part of the DOE project, Quino Energy will send one of its lab pilots to the Grid Storage Launchpad at Pacific Northwest National Laboratory at the end of the year for external validation.

Quino’s production process, which has now achieved ton-scale production, represents the first real example of U.S. domestic manufacturing of flow battery active material, and is a testament to how easily Quino Energy’s innovative zero-waste production process can be scaled up to achieve lower costs. With the average household in America using approximately 29 kWh of electricity per day, Quino’s 100 kWh pilot can supply a home’s entire electricity needs for more than three whole days or three homes for one day. This is an energy storage capacity roughly equivalent to more than seven fully-charged Tesla Powerwalls combined.

“I continue to be amazed at the rapid progress that Quino Energy has made on scaling up their innovative zero-waste process for manufacturing organic flow battery electrolytes. With their low-cost, high-performance quinone chemistry, and general backward compatibility with vanadium flow battery hardware, Quino Energy's technology enables quick acceleration of time-to-market and scale up,” said Changwon Suh, Technology Manager at the Department of Energy’s Advanced Materials and Manufacturing Technologies Office (DOE AMMTO). “This next generation storage technology reduces manufacturing costs and eliminates the need to use critical materials, supporting greater commercial acceptance and innovative applied RD&D. Quino’s organic flow battery electrolytes serve as an example of DOE AMMTO’s vision of bridging the gap between academic discovery and commercialization through collaborative RD&D and use of innovative materials and manufacturing that supports a clean, decarbonized economy.”

Masahiro Sameshima, General Partner at ANRI and Quino Energy’s seed stage lead investor added, “We have been supporting Quino Energy as investors since the seed stage, and we are amazed by the incredible research and development speed driven by the strong leadership of Eugene Beh and the management team. The recent achievement of scaling up from the previously accomplished 6 kW / 24 kWh pilot system to the new 10 kW / 100 kWh prototype marks a significant milestone. As the demand for flow batteries is expected to grow, we expect that Quino Energy's cheap and sustainable solutions will address the existing challenges of flow batteries and contribute to the realization of a decarbonized society.”

We recently achieved an annual degradation rate more than 10 times lower than equivalent LFP batteries with more than six months of continuous cycling on a single cell, and reached six months of cumulative cycling among our full-scale lab pilots,” said Eugene Beh, co-founder and CEO of Quino Energy. “Coupled with our active production line in the U.S. for our quinone electrolyte and one more planned for the EU, our organic flow battery technology is derisked and ready for a new phase of growth focused on MWh-scale deployments and commercial sales of electrolytes. Our vision is for quinones to replace vanadium as the dominant flow battery chemistry and eventually become the leading battery chemistry for mid-duration energy storage. To get there, we will work with other OEMs to build on the good work they have done on building systems for vanadium, and focus on delivering safe, non-flammable energy storage to customers. Longer-term, we aim to take flow batteries to a whole new cost paradigm to go toe-to-toe with lithium-ion batteries.”

On Wednesday June 26, Beh will be speaking at the International Flow Battery Forum (IFBF) in Glasgow, UK to share and discuss Quino Energy’s rapid progress.

About Quino Energy
Formed in 2021, Quino Energy is a start-up company that is developing water-based flow batteries that store electrical energy in organic molecules called quinones, for commercial and grid applications. These batteries are predicted to enjoy a unique combination of low capital cost, true fire safety, rapid scalability, and local manufacturability. This is made possible by a number of technological breakthroughs, some of which were first discovered at Harvard University and later licensed by Quino Energy. Please visit quinoenergy.com for more details on the team and the technology.

Media inquiries:
quino@fischtankpr.com

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release

Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a

DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release

Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68

Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release

Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.

Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release

AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us

Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin

HiddenA line styled icon from Orion Icon Library.Eye