In June 2024 Highview Power secured the backing of the UK Infrastructure Bank and the energy industry leader Centrica with a £300 million investment for the first commercial-scale liquid air energy storage (LAES) plant in the UK.

The £300 million funding round was led by the UK Infrastructure Bank (UKIB) and the British multinational energy and services company Centrica, alongside a syndicate of investors including Rio Tinto, Goldman Sachs, KIRKBI and Mosaic Capital.

The investment will enable the construction of one of the world’s largest long duration energy storage (LDES) facilities in Carrington, Manchester, using Highview Power’s proprietary LAES technology.

Once complete, it will have a storage capacity of 300 MWh and an output power of 50 MW for six hours.

The company has been developing the technology over the last 17 years and it is proven, ready and scalable – we have already built two plants including a grid-scale demonstration.