Cryogenic energy storage (CES) is an emerging technology that stores energy by cooling air or other gases to liquid form at very low temperatures, then re-gasifying it to generate electricity on demand. CES offers large-scale, long-duration energy storage solutions critical for integrating renewables and stabilizing future power grids. Investors looking to capitalize on the clean energy transition can explore companies advancing cryogenic storage technologies.
Why invest in cryogenic energy storage?
- Long-duration storage: CES can provide multi-hour to multi-day energy discharge, complementing batteries.
- Scalability: Facilities can be built at large scales for grid balancing and peak load management.
- Environmental benefits: Uses abundant air with minimal resource extraction and low emissions.
- Cost competitiveness: Potentially lower capital and operational costs compared to pumped hydro or chemical batteries.
Leading companies and players in cryogenic energy storage
1. Highview Power (private, IPO plans anticipated)
- Pioneer in liquid air energy storage (LAES) technology
- Developing commercial projects globally with several utility-scale plants in planning or operation
- Partners include EDF, Equinor, and other energy companies
2. Siemens Energy (ETR: ENR)
- Provides engineering, procurement, and construction for CES plants
- Investing in cryogenic storage technology integration with renewable energy
3. Chart Industries, Inc. (NASDAQ: GTLS)
- Manufactures cryogenic equipment essential for CES plants
- Supplies liquefaction and refrigeration systems used in energy storage projects
4. Linde plc (NYSE: LIN)
- Industrial gases giant producing cryogenic systems and infrastructure supporting energy storage
5. Ceres Power Holdings plc (LSE: CWR)
- Develops fuel cell and energy storage technologies that may integrate with cryogenic systems
ETFs with exposure to energy storage and clean energy
- Global X Lithium & Battery Tech ETF (LIT) (limited CES exposure)
- iShares Global Clean Energy ETF (ICLN)
- Invesco WilderHill Clean Energy ETF (PBW)
Investment considerations
- Technology maturity: CES is commercializing but still early-stage compared to batteries.
- Project development: Timelines for large-scale plants can be long due to permitting and construction.
- Grid integration: Success depends on grid operators adopting CES as part of storage portfolios.
- Competition: Batteries and pumped hydro remain dominant energy storage technologies currently.
- Policy support: Incentives for long-duration storage favor CES growth.
Cryogenic energy storage companies represent a promising niche in the evolving energy storage landscape. Investors focusing on technology leaders, equipment suppliers, and integrated project developers can position themselves to benefit from growing demand for scalable, long-duration grid storage solutions.