Reverion Receives 3 Million Euro SPRIND Grant for Long-Duration Energy Storage

Competiton Funding Press

We are thrilled to announce that we have been selected by the Federal Agency for Disruptive Innovations (SPRIND) as one of the four finalists in the second phase of the SPRIND Challenge “Long-Duration Energy Storage” and will receive funding of three million euros for this stage! This award highlights the significance of our technology in the field of energy storage.

SPRIND Challenges are innovation competitions aimed at producing solutions for the major societal and technological challenges of our time. They design the vision of a better future and gather the scientists, innovators, and entrepreneurs who can make this vision a reality. Therefore, the challenge teams are quickly and unbureaucratically financed and immediately start a multi-stage competition. At the end of each stage, the teams’ work is evaluated, and only the best remain in the challenge, receiving further financial support to continue developing their ideas.

Jano Costard, Challenge Officer at the Federal Agency for Disruptive Innovations (SPRIND) explains:

“Energy storage is essential for the energy transition. However, we need new and better technologies for this. With the SPRIND Challenge, we have created an effective innovation competition. Through this, we can help promising technologies break through, for which there is still no sufficient private venture capital. By linking further financing in the second phase of the SPRIND Challenge to interim results, we create competition among the teams and ensure that investment is made in the most promising technologies and teams.”

In the first phase of the Challenge, building on our already proven biogas technology, we implemented a prototype for reversible energy storage in the form of hydrogen. In the next few years, we will scale the solution to industrial size and test seasonal energy storage in the field. Our reversible plants can store renewable electricity in the form of green hydrogen in times of surplus, both short-term and long-term, and quickly convert the gas back into electricity using the exact same components. The round-trip efficiency of the process is over 75 percent!

We are very happy about this award and look forward to the progress of the coming years.

More information about the SPRIND Challenge can be found on the website: https://www.sprind.org/de/challenges/energystorage/

By Felix Fischer
Co-Founder & COO