The technology would address the “fundamental problem” of how to store energy from renewable sources when it’s not needed and may create as many as 22,000 jobs by 2050, lobby group Centre for Low Carbon Futures said today in the report.

“We have an opportunity, and growing need, to scale up our investment in technologies that will ensure the energy from renewables is not wasted, and the opportunities for the U.K. industrial sector are not lost,” Richard Williams, pro-vice chancellor at the University of Birmingham, who led the study, said in a statement.

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