Makati City Bakuna
Advertisement

DBP, Amber Kinetics sign P750M loan to advance flywheel energy storage technology

Amber Kinetics Philippines recently received a loan grant of P750 million from the Development Bank of the Philippines to help mobilize the production, expansion, and distribution of its flywheel energy storage. 

DBP, Amber Kinetics sign P750M loan to advance flywheel energy storage technology

Hailing from Silicon Valley in the US, Amber Kinetics developed the world’s first and only long-duration flywheel technology as an environmentally safe and efficient kinetic energy storage system. Now in the Philippines, the company seeks to contribute towards the national government’s goal of enhancing power stability within the country and accelerating integration of renewable energy.

With enhanced manufacturing capabilities, AKP also aims to serve international markets that look to explore flywheel energy storage. Having the sites and services in the Philippines, trail-blazes the demand for higher value-added industrial activities, promoting the country as a strategic destination for leading-edge innovation and development. 

DBP staunchly supports the integration of new technologies which can help facilitate the country’s energy transition. Furthermore, topical issues such as energy availability in remote areas of the country and unstable electricity supply create a need for flexible solutions. With the partnership, AKP looks to further goals of ensuring reliable, accessible, and sustainable energy through its flywheel technology.

Topics: Amber Kinetics Philippines , Development Bank of the Philippines , flywheel technology
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement