Finland has launched a major programme aimed at developing technologies to store energy generated from wind and solar farms.
The organizations behind the Neo-Carbon Energy project hope that the technology will provide Finland with an important export opportunity as well as open new doors for Finnish firms in the global energy research and development agenda.
VTT Technical Research Centre has joined forces with Lappeenranta University of Technology and the Finland Futures Research Centre at the University of Turku to lead Neo-Carbon Energy.
Backed by funding from Tekes, the Finnish Funding Agency for Innovation, the partners will look to develop technology that stores renewable energy in the form of hydrocarbons. The total budget of the project is €7 million, of which Tekes will meet €5 million for 2014-2016.
The project is divided into three parts: futures research related to global challenges and energy systems; the development of energy systems, and the enhancement of competencies related to the development of energy storage technologies.