- Janus Capital has again comitted $14.4m to Highview Power.
- The energy storage services provider develops liquid air energy storage solutions.
- JCG has also partnered with Highview to co-develop large-scale energy+storage projects.
Janus Capital, the Janus Continental Group (JCG) subsidiary has again invested $14.4 million to support Highview Power’s expansion plans. In February, Highview, a renewable energy storage solutions provider, raised $70 million in a financing round. Janus Capital invested $13 million in that round. This latest investment brings Janus Capital’s total commitment to the company to $27.4m.
Investor JCG believes that the second investment will support Highview Power’s development and expansion in the Great Lakes region of East Africa. Highview Power has developed its storage solution, the CRYOBattery™, which enables liquid air energy storage,, different from the conventional battery storage utilised in green mini-grids in Africa.
Rikin Shah, JCG’s Chief Executive Officer, stated: “We believe Highview Power will be a market leader in long-term energy storage. By increasing our stake in the company, we are also demonstrating our commitment to bringing clean energy and storage solutions to Africa.”
JCG, through another of its subsidiary Great Lakes Africa Energy (GLAE), has partnered with Hughview to co-develop large-scale clean energy generation and storage projects in the Great Lakes region. JCG intends to fill the energy storage gap on the continent.