Chemicals giant BASF has launched an international competition with €500,000 in prize money to explore fresh ideas for large-scale, chemically based energy storage.
The goal of the competition is to develop and deploy innovative technologies. The contest, which is being run via Nine Sigma’s open innovation community Nine Sights, offers €100,000 to each of up to five winners, as well as the potential for further collaboration with BASF to develop the winning ideas.
Competition submissions should:
- Store energy for stationary applications
- Have a chemical basis for energy storage
- Safely store energy and release it as electricity
- Be less expensive, or more efficient, than existing energy storage options, for example, show potential for reduced investment costs.
Deadline for entering the competition is 2 June and winners will be announced in November.