Argonaut Power has entered into a partnership with Connected Energy to provide financed storage solutions using second life EV batteries.

The venture’s E-STOR battery systems manufactured and supplied by Connected Energy will be fully funded and managed by flexibility outfit Argonaut Power.

One of the first partnership projects will be the installation of behind-the-meter storage for an undisclosed water utility in the north of England to reduce its so-called red zone grid costs via Triad and DuoS avoidance.

The utility will also benefit from sharing part of the total revenues generated by the battery, including the revenue from capacity market and frequency regulation services.

Argonaut Power director Roberto Castiglioni said: “Argonaut Power is delighted to begin working with Connected Energy using its E-STOR technology.

“This will enable us to supply fully funded, sustainable energy solutions for up to 30 years ahead.”

Connected Energy chief executive Matthew Lumsden added: “Teaming up with Argonaut provides further credibility to our E-STOR technology.”