phelas receives grant on project volume of 600k Euro, begins construction of proof of concept system
phelas newsletter 11/2021
phelas receives BayTOU grant
We are proud to announce that we have received a BayTOU grant for a project volume of more than 600.000€ from the Bavarian ministry of economic affairs, regional development and energy. This is another proof point of our approach to energy storage.
The Bavarian ministry supports young tech entrepreneurs with the BayTOU program, focusing on supporting technology oriented companies during their development of new products, methods and technical services. The goal of this support program is to foster new technology company formations and thereby to create high-quality jobs and strengthen the competitiveness of the Bavarian economy. We are proud and happy to be part of this effort as we are building a high-tech company to solve the global need for cheap, sustainable and scalable energy storage solutions.
Our founder Justin Scholz shares this perspective: “We are incredibly happy and proud to see that our innovative approach to energy storage is supported and further strengthens our belief that Munich is a great place to start a company.”
phelas will use the grant to accelerate the construction of the proof of concept of its next generation liquid air energy storage system. Our system uses ambient air to store electricity for low costs and in a system that is built to be scaled globally. phelas vision is a world where 100% renewable energy is a no brainer globally and we make that vision reality with cheap, scalable and sustainable energy storage systems to extend the renewable generation.
Construction of lab-scale proof of concept system started
After many months of detailed planning, it is finally the time to build! We have started with building the proof of concept system in the lab now. Procuring parts is currently hard with supply chain delays left and right, but we have found solutions for these problems so far. We hope to see industry go back to normal next year and have shorter supply times throughout again.
We are once again happy to have you interested in our journey to make 100% renewable energy a no-brainer on this beautiful planet – keep following us and have a look at our positions in Munich or remotely.