LAVO hydrogen energy storage system
Project description and overview:
Providing reliable, affordable and sustainable power generation and supply without CO2 emissions is one of the biggest challenges facing governments, energy corporations and individuals. Renewable energy production is leading the push to a low carbon economy; however, it faces the challenge of overcoming intermittency of supply in order to become a long-term and viable substitute for coal, gas and nuclear energy sources.
Energy storage systems have emerged as a vital complement to the variable nature of wind and solar power intermittency. Market-available systems, currently dominated by Lithium-Ion batteries, have a limited lifespan and create negative environmental impacts during production and disposal.
The patented LAVO technology solves some of these problems by creating a Hydrogen-based power unit, LAVO hydrogen energy storage system.
The LAVO hydrogen energy storage system uses innovative, patented metal hydride technology to store hydrogen equivalent to up to 60kWh which will produce 40kWh of useable electricity. This is enough power for approximately three days of some commercial applications and most domestic applications. LAVO integrates with standard solar systems to:
- Create hydrogen from water with an electrolyser using solar power input
- Store hydrogen into a patented LAVO metal hydride unit
- Convert this hydrogen to electricity via a fuel cell, and discharge it to commercial and domestic applications
LAVO will in the long term be expanding to markets other than small commercial and domestic units by targeting shopping centres, manufacturing plants, hospitals, solar farms and wind generation plants with their H2Store commercial storage batteries.
- Increased spending on R&D
- Increased collaboration with other manufacturers
- Increased number of staff with STEM skills
- Larger patent portfolio
- Increased levels of automation
- Better energy efficiency
- Greater capital intensity and newer equipment
- Higher product value density (by weight)
- Higher marketing expenditure
- More extensive backward links
- Larger geographical reach
LAVO expect the following sales revenue:
- 2021 – $ 29m
- 2022 – $ 92m
- 2023 – $ 253m
- This project is projected to create an additional 250+ jobs by 2025
Government Funds: $221,875 | Industry: $221,875 | In-Kind: $1,375,000