The technology solves the growing global problem of continuous electricity supply due to consumption peaks.
By JERUSALEM POST STAFFNOSTROMO'S ENVOY cooling product(photo credit: HAREL BEN NUN)
The head of American energy giant Exelon, Mayo Shattuck, has announced a $500,000 personal investment in Israeli energy storage company Nostromo, which has developed an industrial cooling system called IceBrick that freezes and thaws ice.The technology uses electricity to freeze water efficiently at night, when temperature and costs are lower, and when consumption is low, and during the day thaws it and uses the cold vapor to cool large spaces, cutting out the need to use polluting and pricey air conditioning.This technology also solves the growing global problem of continuous electricity supply due to consumption peaks. This problem is being addressed globally by developing renewable energy storage solutions.Nostromo developed a solution that both produces the cooling effect and stores it for use later. This system is fully sustainable, unlike lithium batteries which are very difficult to recycle and the common solution today is to bury them in the ground, which pollutes the soil and severely damages groundwater reservoirs. Nostromo’s shareholders include the Taavura Group, Judith and Kobi Richter and Menora Mivtachim Energy.Nostromo’s founder and CEO Yaron Ben-Nun, said that, according to a recently-published Frost & Sullivan study, 40% of the world’s population lives in tropical countries, so by 2050 the use of air conditioning will triple, and therefore the world now aims to make energy storage solutions as simple as possible, and not as complicated as lithium.Analysts say Nostromo’s technology is a smart solution that uses water for cooling and is environmentally friendly.Shattuck is chairman of Exelon, a $44.5 billion public energy company operating in Canada and 48 US states in the production, transmission and distribution of electricity and natural gas. It is one of the largest power producers in the US, providing electricity and natural gas to about 10 million customers and is ranked by Fortune magazine as having the largest number of customers in the US.Shattuck’s investment in Nostromo is seen as an expression of trust by a world-renowned leader in the field of energy in an Israeli green energy company.
Related Tagsinvestmentenergyelectricity
if(catID != 151){
var cont = `Take Israel home with the new Jerusalem Post Store
