Torque enters into energy storage industry

23 April 2024

The global market for storage of electric energy faces, even by very conservative estimates, dramatic growth. That is part of the reason Torque has just acquired 35 per cent of RESS, a new company, established by experienced parties with the right combination of skills and a deep understanding of this unique market.

The company’s sole concern is large-scale storage of electrical energy on batteries. It will operate in a strategic partnership with PowerCon, the world’s leading producer of onshore power supply. PowerCon owns 10 per cent of RESS.

RESS’s portfolio of products includes 20-foot container storage facilities as well as a unique, self-developed system built into industrial pallet racks and operating with natural cooling, noise reduction and a look and feel, which far exceeds what has previously been the standard in this industry. The International Energy Agency (IEA) expects global storage capacity needs to expand manyfold over the coming years, and Torque is very excited to pe a part of the journey.

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