EnergyPathways PLC (AIM:EPP) shares jumped as much as 10% on Wednesday after the company unveiled a partnership with Siemens Energy to develop long-duration energy storage aimed at helping the grid cope with the swings of renewable generation.
The AIM-quoted group has signed a non-binding cooperation agreement with the German engineering giant to advance Compressed Air Energy Storage, a technology that uses surplus power to force air into underground caverns, releasing it later to drive turbines when demand is higher.
Unlike lithium batteries, which typically empty within hours, compressed-air systems can run for days, offering a buffer for grids increasingly reliant on intermittent wind and solar.
A joint taskforce will combine Siemens Energy’s engineering expertise with EnergyPathways’ experience in underground storage and project development.
The partners are targeting a modular, cost-competitive system capable of providing low-carbon power over multiple days. The first potential deployment is the company’s planned MESH project in the East Irish Sea and Cumbria.
Chief executive Ben Clube said the tie-up “demonstrates our commitment to partnering with world leaders in clean energy technology” and would help position the group at the forefront of multi-day storage solutions.
After the initial burst, the stock settled at 5.36p, up 4%.