LDES

Highview Power Raises £300m for Liquid Air Energy Storage

Highview Power has secured the backing of the UK Infrastructure Bank and energy leader Centrica with a £300 million investment.

Highview Power has secured the backing of the UK Infrastructure Bank and energy leader Centrica with a £300 million investment for the first commercial-scale liquid air energy storage (LAES) plant in the UK.

The £300 million funding round was led by the UK Infrastructure Bank (UKIB) and the British multinational energy and services company Centrica, alongside a syndicate of investors including Rio Tinto, Goldman Sachs, KIRKBI and Mosaic Capital.

Richard Butland, Co-Founder & CEO of Highview Power said: “There is no energy transition without storage. The UK’s investment in world-leading offshore wind and renewables requires a national long duration energy storage programme to capture excess wind and support the grids transformation.”.

The investment will enable the construction of one of the world’s largest long duration energy storage (LDES) facilities in Carrington, Manchester, using Highview Power’s proprietary LAES technology.

Once complete, it will have a storage capacity of 300 MWh and an output power of 50 MWs per hour for six hours. Construction will begin on the site immediately, with the facility operational in early 2026, supporting over 700 jobs in construction and the supply chain.

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