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Press Release26 June 2020Gas and PowerMunich

Siemens Energy establishes network for efficient energy storage solutions

With "Future of Storage", a global team of experts is being formed that covers all available energy storage technologies, from batteries to thermal and thermo-mechanical energy storage systems. "We want to offer every customer the optimal energy storage solution that best suits their needs," explains Anette Ossege-Schaffrath, who heads the team at Siemens Energy. "To do this, we need access to a broad portfolio of storage technologies. We need to have the necessary expertise and develop suitable business models. With Future of Storage, we are creating an important prerequisite for achieving these goals," she says.
"Energy storage is the key to a decarbonized world," says Jörn Schmücker, CEO Large Rotating Equipment at Siemens Energy and sponsor of the initiative. "With Future of Storage and our partner ecosystem, we will be able to offer our customers exactly the solutions that fit their needs - with the advantage of improving the efficiency and thus the profitability of their plants.“
At the beginning of June, Siemens Energy entered into a long-term partnership with the Norwegian technology company EnergyNest. The start-up is a supplier of thermal energy storage systems. The aim of the partnership is to jointly offer modularized and standardized thermal energy storage systems for industrial customers. EnergyNest has developed a heat battery that can be charged with renewable energy or with waste heat and can discharge completely renewable steam directly into customers' plants when required. This reduces the demand for fossil generated heat and at the same time increases the flexibility of the plants.

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Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed company Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy, Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of € 83.0 billion and net income of € 6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
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