Swedish Minister of Energy met TEXEL – “Long-duration energy storage could solve the pressing energy issues”

Energy Minister Khashayar Farmanbar and the chairman of the municipal board Katrin Stjernfeldt Jammeh today met the energy storage company TEXEL in the Malmö harbor area. The purpose of the visit was to take part in TEXEL’s newly developed energy storage technology and plans for the establishment of a Gigafactory. 

During the Minister of Energy´s visit to Malmö today, Khashayar Farmanbar highlighted the importance of not letting energy go to waste, and that large-scale renewable energy storage is needed to store all energy we get from sun and wind. There is great uncertainty about the future energy supply and rising electricity prices in Europe and Sweden, as the expansion of wind and solar increases, energy production also requires new energy storage solutions. If Sweden is to be able to solve the electricity crisis, we must get better at storing energy. Khashayar Farmanbars said when meeting with TEXEL Energy Storage.

TEXEL Energy Storage is a Swedish-founded company that, together with the US Department of Energy (DOE), develops the world’s most cost-effective energy storage technology. Since its inception in 2010, the company has focused on phasing out fossil fuels and providing a circular energy solution to solve the big energy issues and climate crises. TEXEL Energy Storage is an extremely exciting company that can solve the problems we have right now – stated Khashayar Farmanbar during his visit.

The Swedish Minister of Energy also had the time to sit down to discuss energy storage solutions with the CEO and founder of TEXEL, Lars Jacobsson – who earlier this year was appointed Sweden’s only expert advisor to the EU Commission – focusing on large-scale energy storage to reach Europe’s climate goals and stopping Europe’s dependence on hazardous gas.

“We are happy that the Minister of Energy is showing great commitment and knowledge regarding the urgent need for energy storage to solve Sweden’s energy problems. There is a serious national security risk today in Europe which is directly related to an unreasonable degree of Europe’s dependence on Russian gas”, Says Lars Jacobsson, CEO and founder of TEXEL Energy Storage.

In addition to the establishment of the Gigafactory in the Malmö harbor area, TEXEL prepares to make Öreseundsverket, a shutdown local power plant, into the world’s largest “battery”, which can supply Malmö City with green energy. There are also plans to establish an R&D center in the city of Malmö and make the city a leading export in energy storage technology.