Ambri Advances Collaboration with Xcel Energy for First Utility Deployment of Liquid Metal™ Battery System

Rhea-AI Summary

Ambri (Ticker: AMB) and Xcel Energy to jointly test a 300kWh Liquid Metal™ battery system at SolarTAC in Colorado. The project aims to integrate solar and wind energy sources, with installation expected to begin in early 2024. Xcel Energy's long-term goal of zero carbon electricity by 2050 aligns with the project's vision for a carbon-free electricity future.

Positive

• Xcel Energy's commitment to zero carbon electricity by 2050 demonstrates a strong alignment with the long-term goals of the energy storage project.
• The collaboration marks the first field-deployed utility pilot system for Ambri, showcasing its innovative Liquid Metal™ batteries in a real-world setting.

Negative

• None.

Long duration energy storage project to contribute to Xcel Energy’s vision for a carbon-free electricity future

MARLBOROUGH, Mass.--(BUSINESS WIRE)-- Ambri’s Liquid Metal™ battery system has taken a major step on the pathway to commercialization, after the company signed its first agreement with a utility provider.

Xcel Energy and Ambri will jointly test the 300kWh system at SolarTAC in Aurora, Colorado, for a period of 12 months, enabling a comprehensive evaluation of its capabilities and performance. Installation of the system is expected to begin in early 2024, with the system fully operational later that year. The system will use the GridNXT Microgrid Platform at SolarTAC to integrate multiple generation sources, such as solar and wind, along with inverters, load banks, and 3-phase distribution connections and communications.

“Xcel Energy is a forward-thinking and ambitious utility, and their enthusiasm for testing our system highlights the huge potential for Liquid Metal batteries,” said Adam Briggs, Chief Commercial Officer at Ambri. “Xcel Energy clearly understands the significant value that can be achieved by integrating innovative storage technologies into their renewable portfolio.”

This collaboration represents the first field-deployed utility pilot system for Ambri, showcasing its innovative Liquid Metal™ batteries in a real-world setting. It also marks the initial evaluation and demonstration of these batteries by a major U.S. utility. Throughout the demonstration period, Xcel Energy and Ambri will test various use cases, including solar and wind integration, capacity management, arbitrage, and ancillary services, among others.

“Xcel Energy has always been at the forefront among utilities in the transition to carbon-free electricity,” said Justin Tomljanovic, vice president, Corporate Development at Xcel Energy. “This demonstration project with Ambri allows us to explore a technology that could help us continue to reliably supply the energy our customers depend on throughout the clean energy transition.”

In 2018, Xcel Energy became the first utility in the industry to set a long-term goal of providing its customers with zero carbon electricity by 2050. The company’s carbon-free electricity goal is a part of its vision is to become a comprehensive clean energy provider for its customers, providing them with zero or net zero electricity, heating, and transportation.

Xcel Energy plans to develop a follow-on Memorandum of Understanding (MOU) for larger-capacity long-duration energy storage projects to follow the upcoming 300kWh system at SolarTAC.

About Ambri

Ambri’s Liquid Metal™ battery technology solves the world’s biggest energy problems – fundamentally changing the way power grids operate by increasing the contribution from renewable resources and reducing the need to build traditional power plants. Ambri’s long-duration energy storage solution is built for daily cycling – even in extreme, harsh environments. With a lifespan of 20+ years with minimal fade, Ambri systems are not only extremely reliable but also safe, as Ambri systems do not produce or emit any gases and there is no possibility for thermal runaway. For more information, visit www.ambri.com.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, Minn., the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com.

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Source: Ambri

FAQ

What is the project between Ambri and Xcel Energy?

Ambri and Xcel Energy are jointly testing a 300kWh Liquid Metal™ battery system at SolarTAC in Colorado to integrate solar and wind energy sources.

What is Xcel Energy's long-term goal?

Xcel Energy aims to provide zero carbon electricity by 2050, aligning with the project's vision for a carbon-free electricity future.

What are the key highlights of the collaboration?

The collaboration marks the first field-deployed utility pilot system for Ambri, showcasing its innovative Liquid Metal™ batteries in a real-world setting.

What are the expected outcomes of the project?

The project aims to integrate solar and wind energy sources, with installation expected to begin in early 2024, aligning with Xcel Energy's long-term goal of zero carbon electricity by 2050.