Funding Secured, Subject to Location
Storelectric has achieved a breakthrough, with an offer of funding (of course, subject to contract etc.) for multiple plants of various sizes and any of our technologies, subject to securing a suitable location. Previously we had an offer subject to such a project being shovel-ready, i.e. with site-specific designs, planning permission and grid connection offer. This is a big advance. Now to secure a location – and we have numerous initiatives to do that, both in the UK and overseas.
We currently have a funding round open for earlier-stage investors pending that location. More money now will help us secure it, as we become more credible and can perform more feasibility studies and pay for options.
Storelectric Speaks at World Utilities Congress
Mark Howitt will be speaking at the World Utilities Congress (www.worldutilitiescongress.com) in Abu Dhabi, on the subject of “Delivering a much more affordable, reliable and resilient Net Zero emissions grid.” This presentation is part of Session 20. Energy storage technology and applications taking place on Wednesday 11 May at 15:30 – 17:00. It would be good to see you there!
Salt Basins Survey
Storelectric has completed a survey of UK onshore salt basins with Geostock, leading inerternational geotechnical experts, to identify the extent and quality of opportunities for CAES and hydrogen storage in them. The opportunity is immense – and many other countries have even more!
Renewables Can Provide Grid Stability
National Grid can now provide grid stability from renewables, via synthetic grid-forming capabilities. Such renewables can now compete with synchronous machines to deliver the service. This is incredible: not only is synthetic inertia inferior to natural inertia, but also it cannot be relied upon owing to intermittency: the balancing services now being procured for energy will also have to be procured for stability services. This can only lead to an increase in grid costs and complexity, delivering a decrease in reliability and resilience. What will they think of next?
Thought Leadership Blog
There are many current issues facing the energy system which are challenging enough without confusing political challenges with regulatory ones. Too many political challenges are being given to regulators to sort out, which is grossly complicating matters for all parties. In this month’s blog Mark considers how to separate them, and applies to all regulated utilities.