Wedoany.com Report-Dec 12, The US Department of Energy (DoE) has granted a $305 million loan guarantee to finance Project IceBrick, a virtual power plant (VPP) that will deploy up to 193 cold thermal energy storage systems across commercial buildings in California.
The US DoE's Loan Programs Office (LPO) has announced a conditional commitment to IceBrick Energy Assets I, LLC, a subsidiary of Nostromo Energy, Inc., for a loan guarantee of up to $305.54 million to finance Project IceBrick, a VPP consisting of up to 193 cold thermal energy storage (TES) installations at commercial buildings across California.
The company’s patented IceBrick system is rectangular energy storage block with a 132 gallon volume. Project IceBrick is designed to provide customers with efficiency as a service by freezing a water-based solution during hours when electricity supply is at its most abundant and clean.
The IceBrick system stores and later uses the ice to support cooling of the building during hours of peak demand, when the power grid faces highest demand.
