AI and big tech take down the barriers to battery bankability

9th March 2022

That insurance is key to bankability of energy assets was a key theme to emerge from London Energy Storage Summit (ESS UK). Charley Grimston, executive chairman of Altelium attended the London Summit and will be a speaker at the US Summit taking place in Austin, Texas from the 22 – 23rd March.

Charley explains: “Warranty products free OEMs’ balance sheets of long-term liabilities, substituting them with A-rated insurance capital. End-users secure lower cost project finance. Both parties achieve better returns. ”

The growing need for insurance in the energy storage market was highlighted by Oliver Forsyth from IHS Markit:

“Developers and all those that own and operate these assets are starting to realise that there is an element of risk here that they want to pass on to someone else, they don’t want to hold that risk.”  He continued:

“The battery industry hasn’t really been around for that long — so we haven’t really seen the full lifecycle of many of these assets to fully understand how some of these assets get degradated (sic) over time.”

There is however no need to wait for historical data to underwrite the complex chemistry risk of batteries. As Charley explains:

“Waiting for a full life cycle to be complete and deliver its historical performance data would involve too much time and potential waste of resources. This is why the sharing of battery telematics is so crucial to the future of the entire clean energy market.

Battery data, combined with the predictive modelling capabilities of AI and the knowledge of different battery chemistry profiles, is how risk is assessed.

The sharing of data supports a symbiotic relationship: OEMs provide battery telematics which the insurtech enhances with its own data to identify risk and offer insurance services to the OEMs and integrators. ”

In the green energy transition, AI and big tech is making history, rather than waiting for history.

To meet Charley at the Energy Storage Summit in Austin, Texas, US please visit: 

To speak to one of our representatives in the UK, please visit: