RheEnergise awarded EIC grant for LDES tech

UK-based energy storage company RheEnergise has been awarded a £2.15 million (€2.5 million) grant from the European Innovation Council (EIC) Accelerator to support the research and development of its long-duration energy storage (LDES) technology. The funding marks a significant milestone for the company, which is the only LDES firm to receive EIC support in this round and one of just three UK companies selected out of 40 recipients across Europe. The other two UK awardees are focused on advanced computing and health, while the broader group of funded companies spans sectors including health, space, IT, and energy, sharing nearly €230 million in grants.

The announcement comes as RheEnergise embarks on an investor roadshow in Canada, where the majority of its engineering team is based. The company’s demonstrator plant, located in Cornwood near Plymouth, is preparing to begin pumping its proprietary High-Density Fluid, a key step in showcasing the commercial potential of its LDES technology. This project has also received backing from the UK Department of Energy Security & Net Zero, further highlighting the strategic importance of RheEnergise’s work in the transition to cleaner energy systems.

Chief Executive Stephen Crosher welcomed the grant, stating, “The receipt of the EIC Accelerator grant is hugely welcome, as the EIC acknowledges the quality of our R&D to date, and the commercial prospects for our LDES technology to be deployed. With the start of pumping of our High-Density Fluid soon to commence at our demonstrator energy storage plant on the outskirts of Plymouth, and the encouraging global interest that is being shown in our LDES technology, we are in a strong position to be one of the UK’s leading green energy unicorns.”

RheEnergise’s technology aims to provide reliable, long-duration energy storage – an essential component for integrating more renewable energy into power grids and supporting the global shift away from fossil fuels. The company has already secured agreements to deploy its systems not only in the UK, but also in South America, Australia, and mainland Europe, reflecting growing international interest.

The EIC grant award is still subject to the Council’s due diligence process but, if confirmed, it will provide a major boost to RheEnergise’s ambitions to scale up and commercialise its innovative storage solution.