Koolen Industries has signed the agreement for a multi-million investment in the electricity storage company Elestor BV. After years of research and development, Elestor is at the verge of introducing its revolutionary hydrogen bromine flow battery to the market. This technology is a next step in low cost electricity storage at scale.
Kees Koolen, owner of clean energy conglomerate Koolen Industries and former CEO of booking.com and early investor in Uber: “Elestor’s storage systems are designed for large scale stationary applications, whereby the storage costs per kWh are impressively low. With Elestor, another exciting storage technology has been added to the group of companies that we invest in. Since these technologies are complementary and serve a different range of applications, we are together able to deliver turnkey solutions for virtually every demand, in all markets and on a very large scale. The unique Flow Battery technology from Elestor fits extremely well in that strategy.”