Timing with HPQ's Town Hall Zoom meeting is interesting though.
The Quebec government would have an opportunity to have a strong trio (Hydro-Quebec/PYR/HPQ) for this mega market.
MONTREAL -- Hydro-Quebec announced on Wednesday the launch of EVLO Energy Storage, a subsidiary designed to design, sell and operate storage systems.
The provincially-owned company explained that these storage systems are mainly intended for producers, transporters and distributors of electricity as well as medium and large-scale commercial and industrial markets.
According to Hydro-Quebec, EVLO lithium-iron phosphate batteries are much safer than traditional lithium-ion batteries and their environmental footprint is smaller since they are made from abundant and non-toxic raw materials.
They can also be recycled through a process that recovers and reuses 99 per cent of active materials. EVLO systems are also free of rare earths and cobalt.
The technology marketed by EVLO is supported by more than 40 years of research and development on battery materials by Hydro-Quebec, and the EVLO storage systems have been put to the test in real operating conditions in the network.
Hydro-Quebec President and CEO Sophie Brochu believes that energy storage will be at the heart of the energy transition. In her opinion, Quebec's know-how in the field of batteries will help support the development of solar and wind energy and help manage peaks in consumption.
EVLO also announced the signing of a memorandum of understanding with Innergex renewable energy within the framework of the Tonnerre project, in France, which provides for the commissioning of a 9 megawatt-hour (MWh) storage system in the French electricity network.