It is now unfortunately defunct or at least the website says they're on hold indefinitely.
Here is a youtube video explaining:
https://www.youtube.com/watch?v=u6I2lKtfpLQ
It was a flywheel battery. A physical battery. It turns electrical energy into kinetic energy (and back on demand) at a very high efficiency rate. If I remember the specs correctly it could supply 15 kwh. I think the cost for first adopters would have been $6500 a unit. Actually here are the full specs from a sheet I got from the website before it went down:
Technical Specifcations
Continuous Power 3kW
Peak Power (60 seconds) 9kW
Nameplate Energy 15kWh
Depth of Discharge 100%
Interface 48VDC Virtual Lead Acid Bus
24h Roundtrip Efciency >80%
Expected Service Life 10 years
Physical Package meter(inch) 1 x 1 x 1 (40 x 40 x 40)
Weight kg(lbs) 340 (750)
Standard Connectivity Wi-Fi, Ethernet
Optional Connectivity CAN Bus, RS-485, Xbee, Powerline, LoRa
Energy storage systems of any size can be built by linking 2 or more (n) Velkess L systems togetherin parallel.
Multiple parallel Velkess L modules will self balance and behave as a single energy storage system with performance equal to (1 module) * n.
The clever part was that the flywheel (flywheels are dangerous due to the large amount of kinetic energy) would employ a lasso effect to crumple and use its own energy to destroy itself if there was a technical problem.The killer app quality it had was that a flywheel of this sort could theoretically run for many decades without failure. The first iteration had '10 years' expected service life but I believe that was being very conservative and it had the capability to last much, much longer.