The proposed grid-scale project will supply electricity to around 25,000 homes for a day, although realistically it will only be used for short periods to cover sudden peaks in demand.
The firm's boss, Javier Cavada, said the plant will be built on the site of a former disused power plant.
He said: "This plant will provide the critical services needed to help maintain a stable and reliable grid. Giga-scale energy storage will be key to a 100% carbon-free future."
Professor John Loughhead, Chief Scientific Adviser at the government’s business and energy department, has previously praised the technology.
The Electricity System Operator, which manages supply and demand in Britain, said they expected the Highview plant to bid for contracts in the market for flexible electricity.
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