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Former watch trader is now building the AWS of grid storage, Terralyr

TechCrunch LogoTechCrunch12h ago

Former watch trader is now building the AWS of grid storage, Terralyr - TechCrunch

Quick Summary:

Terralayr also manages batteries, both its own and those of others, but Man said the difference is that it doesn’t function as a trader, but something more like an exchange.“Our pitch is like, we’re not traders.We don’t trade at all.

For somewhere like Germany, where Terralayr is starting out, power providers need to predict how much electricity they’ll generate in the next 24 hours.

Analysts at the firm also expect capacity to nearly triple again before the end of the decade.“The industry, while still very nascent, has been built the wrong way around,” Man said.“Today, people build a battery, and then somebody else trades it.


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Article Details

Author / Journalist: Tim De Chant

Category: Technology

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 04:00:00 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 802 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23114029

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