Augwind to work with Voith Hydro on components for its energy storage system

Israel’s Augwind (TLV:AUGN) will collaborate with Voith Hydro, part of German technology group Voith Group, on the development of equipment for AirBattery, the compressed air power storage system that Augwind is developing.

Augwind said on Monday it has entered into a three-year partnership with Voith Hydro to develop systems and equipment such as turbines, water pumps and power systems for the AirBattery energy storage product, which uses technology for the compression of air into underground containers.

The strategic collaboration agreement is part of Augwind’s roadmap to improve AirBattery’s performance and make it competitive.

Augwind chief executive Allon Raveh expressed confidence that the AirBattery technology will deliver a competitive offer to customers “in terms of both cost and round-trip efficiency, particularly now when we join forces with a leading expert in the world of hydroelectric systems like Voith."

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