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Rio Tinto punts on British start-up to plug renewables gap

Hans van Leeuwen
Hans van LeeuwenEurope correspondent

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London | Rio Tinto has joined a £300 million ($575 million) investor syndicate to bankroll British energy-storage play Highview Power, which claims its technology can store and firm renewable energy more effectively than batteries or hydro.

Highview’s CEO, New Zealand-born ex-banker Richard Butland, said the company was readying to take a big punt on the Australian market, with Rio Tinto and the Northern Territory government shaping up as potential customers.

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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com

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    Original URL: https://www.afr.com/companies/energy/rio-tinto-punts-on-british-start-up-to-plug-renewables-gap-20240619-p5jmwu