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FROM THE LAB TO THE MARKET WITH MICHAEL AZIZ: COMMERCIALIZING RENEWABLE ENERGY STORAGE TECHNOLOGY CLOSER TO A REALITY

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January 25, 2016 – Michael Aziz’s vision that one day the vast majority of our electricity will come from renewable sources like wind and solar could become a reality sooner than he thinks. The Harvard University engineer and his team are making inroads to storing renewable energy more cost effectively, therefore opening up a potential big market for wind and solar. In particular, Aziz has developed battery storage technology that allows energy to be stored in inexpensive, abundant, non-toxic organic molecules, called quinones, found in nature. These are dissolved in water – so they can’t catch fire – and can be energized and then stored outside the battery container itself in arbitrarily large holding tanks for a greatly reduced cost.

This first-time technology has caught the attention of Green Energy Storage, S.r.l., in Rome, Italy, which has licensed European rights to Aziz’s invention, and is nearing the end of raising its first round of capital as it develops its own prototype. “The storage of energy in flow batteries based on quinones represents a real breakthrough, especially because the world is strongly requiring more clean energy sources,” said Salvatore Pinto, president of Green Energy Storage. “To be able to collect the energy and store it inexpensively and then use that energy when it’s necessary is revolutionary.” Green Energy Storage’s 1 kW prototype battery is expected to be completed within the next three-to-four months at the Bruno Kessler Foundation in Trento, Italy, in cooperation with the Industrie De Nora. Once completed, the company will seek a pilot plant to test the system.

“The crucial point is to prove that the technology based on quinones perfectly works and it is cheap and effective,” said Pinto, who believes that once this energy storage technology is proven, its adoption and commercialization will spread around the globe. “We are honored to be the first company to bring Michael Aziz’s battery storage technology to the market.” Meanwhile, Sustainable Innovations, LLC in Connecticut has been working with Aziz and his team for the past eight years in developing energy storage technologies to complement both renewables and the grid. The firm is currently commercializing a line of hydrogen recycling products to be used in common industrial applications for metals processing, microelectronics fabrication, glass fabrication, and others, saving end-users both money and energy. Using a modified chemistry, this product architecture translates to a unique flow battery that provides grid-scale energy storage.

“The quinone-based research being conducted by Michael Aziz and his team enhances the technology’s capability and market appeal,” said Trent Molter, president and CEO of Sustainable Innovations. “Leveraging this same platform, we plan to also develop a system that converts waste carbon dioxide into fuels and valuable commodity chemicals. We are currently raising funds from investors to support these product development efforts.” For Aziz, the drive to rapidly commercialize his technology is to prevent the acceleration of climate change. He said his technology’s success and entrance into the market would not be possible without university research funding, followed by the investments of early adopters such as Green Energy Storage and Sustainable Innovations who are willing to place bets on the future of clean energy.

“This is a great example of how innovation in a university environment can be de-risked through private sector investment to reach the marketplace where it can benefit humanity and the environment,” Aziz said. “Wouldn’t it be great if Benefunder could help this happen a hundred more times?” Aziz is one of 40 researchers who are part of Benefunder’s Clean Energy Impact Fund, which connects donors with top innovators who are working on today’s most pressing clean energy solutions. One of the fund’s goals is to advance all areas of clean energy, including basic and applied research, with an emphasis on commercializing new methods and technologies.

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