Origin Energy Bets Big on 12-Hour Battery Technology

In a significant move to transition away from coal, Origin Energy has increased its investment in Allegro Energy, a Newcastle-based company developing long-duration energy storage technology. Origin’s backing signals a firm belief in Allegro’s redox flow battery (RFB) technology, which promises up to 12 hours of storage and could play a key role in replacing coal-fired power plants.

Allegro Energy recently secured $17.5 million in a Series A fundraising round, drawing the support of both local and global investors. Major players in the renewable energy space, including Origin Energy, Melt Ventures, Impact Ventures, and the US-based Grantham Foundation, contributed to the round. The funding will accelerate Allegro’s development of clean, non-flammable, fully recyclable redox flow batteries that rely on simple supply chains and abundant materials.

Allegro’s redox flow batteries and supercapacitors are attracting attention for their potential to revolutionize energy storage. Unlike competing technologies, these batteries offer a safer, cheaper solution without relying on scarce materials. But what really sets them apart is their ability to provide long-duration energy storage—essential for a grid increasingly powered by renewables. This technology could be critical in helping Origin phase out fossil fuels at its coal plants, like Eraring in New South Wales.

Origin has already taken a 5% stake in Allegro, with plans to trial the technology at the site of its Eraring coal plant. While the first battery trial will be small, with a capacity of just 100kW and 800kWh, Origin has ambitions to scale up. A 5MW, 12-hour battery could be installed at Eraring or another site in the near future, further advancing the company’s clean energy goals.

In addition to the trial, Origin has hinted at plans to fund a large-scale battery factory in Newcastle to meet future demand for Allegro’s storage solutions. The potential gigafactory would position Australia as a leader in renewable energy technology while also contributing to the local economy.

Allegro’s latest funding round was led by global heavyweights like the Grantham Foundation and Lightbank. The Grantham Foundation, known for its mission to protect the environment, is optimistic about Allegro’s potential to lead the charge in clean energy storage. Lightbank, an early-stage tech investment firm, echoed this sentiment, calling Allegro’s technology “revolutionary” and “poised to change the conversation around clean storage.”

Allegro’s breakthrough comes as Australia faces a crucial period in its energy transition. With fossil fuel plants like Eraring set to close, long-duration energy storage will be essential for stabilizing the grid. Allegro’s innovative technology could be the solution needed to make renewables more reliable and cost-effective.

Allegro’s success comes in the wake of challenges faced by another Australian battery tech company, Redflow. Despite more than a decade of work on zinc-bromine flow batteries, Redflow recently entered voluntary administration due to high costs and competition from cheaper lithium-based batteries. This underscores the uphill battle in the energy storage industry, but Allegro’s simpler, more cost-effective technology could be the answer.

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