technology firm Highview Power Storage is developing US projects for its liquid air energy storage ( LAES ) system , after being granted £ 1.5 m ( $ 2 m ) from the UK government ’s Innovate innovation programme . Highview 's cooling system cools and compresses air into a liquid and stores it in a vacuum - like chamber . Upon release , the liquid air expands and drives a turbine , creating electricity . Richard Riley , Highview ’s business development manager for North America , said the low - cost system is ideally suited to large - scale applications , while the US is considered to have the healthiest energy storage market .
London firm Highview Power Storage is seeking US projects for its liquid air energy storage (LAES) system, after being granted £1.5m ($2.03m) from the UK government’s Innovate UK programme. Highview's LAES system cools and compresses air into a liquid and stores it in a thermos-like chamber. Upon release, the liquid air expands and drives a turbine, creating electricity. Richard Riley, Highview’s business development manager for North America, said the low-cost system is ideally suited to large-scale projects, while the US is considered to have the healthiest energy storage market.