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 is The Australian Financial Review’s former Europe correspondent. He is now International Economy editor for The Telegraph UK.
