Synchrostor will use a UK government grant to build a plant that can discharge energy for 10 hours.
Energy Security Minister Graham Stuart described the business, which will create a Pumped Thermal Energy Storage system, as "pioneering".
"I'm delighted that Scotland's PTES Demonstrator project is receiving government backing to make it a reality - there is a lot of talent in our UK industries and it's great to see them playing a role in the nation's energy security." In November East Lothian-based company Sunamp received £9.25m to help trial its advanced thermal storage system in 100 UK homes.
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Boston Tequila Brand Names New CEO, Raises More Than $9MThe tequila maker also secured $9 million in new fundraising, according to a Form D filed last week, including from The Raptor Group, a Boston private investment firm.
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Plan for Guernsey energy needs delayed againThe plan is now due to be published on or before 5 May.
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Germany to shut final three nuclear power plants as concern over green energy targets growsGermany was forced to delay the closure of the three remaining plants after Russia's invasion of Ukraine - but plans are now set to go ahead.
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