INOX India to supply 5 X 690kl vertical tanks for the Project
These tanks will be the largest shop-fabricated vacuum insulated Industrial Gas tanks ever made by INOX India
This is the first instance of cryogenic tanks being used at industrial scale for clean energy storage
Mumbai, 7th November, 2024 -INOX India Ltd (INOXCVA), one of the world's leading cryogenic technology solution providers, is pleased to announce the securing of a significant contract from Highview Power, UK for their upcoming Liquid Air Energy Storage (LAES) facility at Carrington, Manchester, UK. Under the contract, INOXCVA will supply 5 Vertical 690kl, high pressure EN Design Vacuum Insulated Cryogenic Tanks for the project. This contract marks INOXCVA's entry into the cutting-edge field of liquid air energy storage and represents the company's first order for a liquid air energy storage project. Notably, these will be largest shop-fabricated vacuum insulated Industrial Gas tanks ever made by INOXCVA.
This contract strengthens INOXCVA's position in the global cryogenic equipment market and opens new avenues in the rapidly growing energy storage sector. The Company looks forward to supporting Highview Power in enhancing the UK's energy storage capabilities and contributing to the country's clean energy infrastructure. INOX India's contribution to this project aligns with its global efforts to transition to more sustainable energy balancing systems.
Commenting on the prestigious contract win, Siddharth Jain, Promoter & Non-Executive Director, INOX India Ltd, said "We are thrilled to partner with Highview Power on this ground-breaking renewable energy project. This partnership not only demonstrates our technological prowess in cryogenic solutions but also marks a significant milestone towards our vision of creating a positive impact across the planet with our products and solutions. By leveraging our expertise in large-scale cryogenic equipment, we aim to contribute substantially to the UK's energy storage capabilities and transition to cleaner energy sources. This contract underlines our unparalleled expertise in delivering complex, large-scale cryogenic solutions, while customizing them to the specific needs of our customers. We are also excited that besides being among the largest shop-fabricated vacuum insulated Industrial Gas tanks ever made by INOXCVA, this installation would be the first instance of cryogenic tanks being used at industrial scale for the storage of clean energy."
Richard Butland, Co-Founder & CEO, Highview Power adds, "As we strive to move UK closer to Net Zero, we are proud to partner with INOXCVA, an innovative solution provider. We greatly appreciate their commitment to delivering a well-designed and tailored solution for such an important project. This critical energy storage program will enhance energy security and stability in the country while bolstering the economy, making strong partnerships like ours with INOXCVA essential."
Highview Power is constructing the world's first commercial scale LAES long duration energy storage facility in Carrington, Manchester, using its proprietary technology. The facility is set to significantly advance the UK's renewable energy storage capabilities and playing a key role in the UK's transition to Net Zero. Once operational, the facility will have a storage capacity of 300 MWh and an output power of 50 MW per hour for six hours. The facility is expected to be operational in late 2026. The Carrington LAES project is set to play a crucial role in balancing the intermittency of renewable energy sources, providing a reliable and efficient solution for the grid.
About INOX India Ltd
INOXCVA is one of the world's leading providers of customized cryogenic solutions to global customers across the clean energy space including industrial gases, LNG, hydrogen and cryo-scientific applications, for over three decades. It's offerings include standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries such as industrial gases, liquified natural gas ("LNG"), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction. In addition, it manufactures a range of cryogenic equipment utilised in global scientific research projects. We also were the largest exporter of cryogenic tanks from India in terms of revenue in Fiscal 2022. (Source: CRISIL Report, November 2022).
For more information, contact:
Puneet Gupta | [email protected]