Exergy Power Systems, Inc. (Exited)
Exergy Power Systems provides flexibility services which enables the adjustment off sudden fluctuations that occur when transitioning renewable energy between the US and EU regions.
Exergy is a University of Tokyo startup that is developing, producing, and providing next-generation energy storage systems that make use of its uniquely developed hydrogen cells. Hydrogen cells have ultrafast charging and discharging properties as well as excellent durability. They can help to realize stable energy systems and the introduction of renewable energy systems, which are drawing increased demand to adhere to conditions set in the Paris Agreement. Exergy is currently deploying an MW-level energy storage system verification project in Hawaii and Europe, where the use of renewable energy already exceeds 40%. Domestically, the company is making use of large-scale energy storage systems to perform verification projects relating to the realization of energy reductions at port facilities and in railway systems.
Exergy, a startup from Atsushi Tsutsumi's Lab at the University of Tokyo's Institute of Industrial Science, that develops next-generation energy-saving batteries, was founded with UTEC’s support.
Exergy’s business model is to provide flexibility service for Transmission System Operators (TSO) by installing and operating low capacity/high power battery energy storage systems and combining them with various distributed energy resources. Exergy’s business development is focused on the European market where its main strengths lie.
UTEC’s value add
UTEC has backed Exergy since the seed stage with financial support, business development, and negotiations with business partners, etc.
Exergy’s 1MW battery energy storage system, installed at the E.ON Energy Research Center of RWTH Aachen University, Germany