MADISON,Wis.--(BUSINESS WIRE)--May 25, 2023--
Salgenx, a leading innovator in salt water flow battery technology, is gearing up to fulfill the burgeoning market demand for large-scale grid batteries in the renewable energy sector. With Tesla's recent backlog of orders and their existing product limitations, Salgenx sees a tremendous opportunity to offer enhanced benefits and meet the growing needs of the wind and solar industry.
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Cutting-edge saltwater flow battery technology offers affordable solution with high energy density, suitable for power and thermal storage, desalination, and graphene production. This membrane-free redox flow battery surpasses Vanadium and Bromine counterparts in both cost-effectiveness and rapid deployment, outperforming even Tesla Megapack in terms of delivery.(Photo: Business Wire)
Tesla's Lathrop Megapack factory, which currently produces 4-9 units of 3EU (3.9 MWh equivalent unit) per day, has a staggering two-year backlog of orders. This backlog amounts to approximately 20,000 orders, with each 3EU priced at $2.4 million (base price). Furthermore, Tesla's declared production capacity of 40 GWh per year translates to 10,000 units or 29 Megapacks per day, which is equivalent to producing 250,000 Tesla cars annually.
In addition to the Lathrop Megapack factory, Tesla's Nevada facility contributes to the company's overall manufacturing capacity. With the addition of two new Megafactories, Tesla's total potential capacity reaches an astonishing 83 GWh (over 20,000 units) per year. This remarkable expansion in production capacity positions Tesla as a leading force in the global energy storage market.
Tesla's exponential growth in capacity is remarkable. In 2020, the company nearly doubled its deployment, exceeding 3 GWh. Subsequently, in 2021, Tesla achieved a remarkable 25% increase, reaching 4 GWh. The company's outstanding performance continued in 2022, with a remarkable 62% growth in capacity. These figures showcase Tesla's unwavering dedication to innovation and meeting the world's increasing energy storage needs.
As the demand for renewable energy storage solutions continues to soar, wind farms in Denmark and the Netherlands emerge as prime locations for grid-scale battery production. Salgenx recognizes this opportunity and aims to capitalize on the market demand for large orders of grid-scale batteries, which the current backlog indicates are not being met. The renewable wind and solar industry demand represents only the tip of the iceberg, and Salgenx is well-positioned to address this immense potential.
Greg Giese, CEO of Salgenx, emphasized the advantages of salt water redox flow batteries, stating, "This represents a huge opportunity for salt water redox flow batteries to capitalize on the ongoing market demand for large orders of grid-scale batteries. The backlog suggests there is a demand which is not currently being met. It is just the tip of the iceberg for the renewable wind and solar industry demand." Salgenx's innovative technology offers significant benefits beyond energy storage, including desalination capabilities and the production of graphene as a byproduct during charging.
While acknowledging the success of Tesla's Megapack as a groundbreaking first-to-market product, Giese emphasized the limitations of its functionality. "While the Tesla Megapack is an amazing first-to-market product, it's a one-trick pony. The salt water battery has the ability for enhanced benefits, including desalination and producing graphene as a byproduct of charging," he stated.
With a clear vision for the future of grid-scale batteries and the ability to meet evolving market demands, Salgenx is ready to revolutionize the energy storage industry. Their salt water flow battery technology offers unique advantages and aligns perfectly with the increasing requirements of utility peaker plants and renewable energy installations worldwide.
Salgenx will be releasing its highly anticipated Salt Water Redox Flow Battery Technology Report. This comprehensive report offers in-depth insights into the dynamics of grid-scale flow batteries, covering crucial aspects such as economics, tax credits, efficiency, and deployment strategies.
About Salgenx and Infinity Turbine LLC:
Salgenx is a pioneering company focused on developing and commercializing advanced salt water flow battery technology. With a commitment to sustainable energy solutions, Salgenx aims to revolutionize the energy storage industry by offering high-performance grid-scale batteries that not only provide reliable power but also deliver additional benefits such as desalination and graphene production.
Infinity Turbine Website: https://www.infinityturbine.com
Salt Water Battery Website: https://salgenx.com
Salt Water Redox Flow Battery Technology Report: https://infinityturbine.com/flow-battery-technology-report.html
View source version on businesswire.com:https://www.businesswire.com/news/home/20230525005293/en/
G. Giese | CEO | Infinity Turbine LLC |greg@infinityturbine.com|greg@salgenx.com
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SOURCE: Salgenx
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PUB: 05/25/2023 07:03 AM/DISC: 05/25/2023 07:02 AM
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