The Mobility House and Green Energy Storage Initiative SE (GESI) have launched a joint venture aimed at developing, commercializing, and financing battery energy storage systems (BESS) in Germany. Leveraging The Mobility House’s eight years of experience and advanced algorithms, the partnership plans to construct up to 8 GW of storage capacity by 2035, starting with a site offering 750 MW in two phases. This collaboration seeks to accelerate the energy transition and mitigate grid congestion costs. The joint venture will oversee the development, construction, operation, and maintenance of the storage sites, with GESI focusing on financing and project coordination, while The Mobility House manages intelligent control and commercialization in the European power markets. The Mobility House has been a pioneer in integrating electromobility and renewable energy, already trading over 4,500 electric car batteries with a capacity exceeding 100 MW.
In the broader context of the energy transition, substantial power reserves are required to balance the intermittent supply from renewable sources like solar and wind. Currently, inadequate storage capacity leads to significant energy wastage, with €3.1 billion worth of electricity lost last year alone. Battery storage systems offer an efficient solution due to their quick response times and flexibility, enhancing the utilization of renewable energy and reducing reliance on fossil fuels. The Mobility House’s collaboration with GESI aims to build gigawatt-scale storage systems, significantly contributing to a stable and renewable energy supply. The partnership capitalizes on The Mobility House’s expertise in battery storage commercialization and GESI’s financial strength and project coordination capabilities. The initial project, already in advanced planning stages, includes a 250 MW storage system, with an additional 500 MW in the second phase. The Mobility House’s trading algorithms have been recognized with The smarter E AWARD 2024 for their innovative approach in maximizing trading revenue and minimizing battery degradation through AI-supported algorithms.
