Storelectric is Now Raising Investment
Storelectric is growing and we’d like to invite you to be part of it.
We’ve partnered with leading green-tech investors 350PPM to launch our latest round of investment on their Envestry site. We’re raising a round of growth finance to bring our proprietary compressed-energy storage technology to the world.
The growth of renewable generation brings a similarly-sized need for emissions-free arbitrage, balancing and ancillary services. Now Storelectric offers cost-effective technology able to do this.
In the short term (for peak demand only), the market is for up to a third of peak demand in any country. To support baseload, 3-6 times as much storage is needed. To support the transition from fossil fuels of heating, about 3-10 times as much again is required.
Storelectric’s plants earn 12-15% returns on investment in today’s market, which is forecast to improve in the coming years, as such we are offering a select group of investors the opportunity to be involved at the start of what is a new and highly lucrative asset class.
Partners and Collaborators
Storelectric Ltd has developed an enviable list of partners and suppliers to ensure project success and ensure delivery is not compromised at any stage of development.
Every partner business envisages working with us as we are seen as providing a unique opportunity to create a new global market, well ahead of any competition.
An initial agreement on the land option for the first project has been secured with the owner for the use of existing gas-optimised salt caverns with 4-8GWh capacity now, with a possibility to expand this in the near future to 40-60GWh. They have experience in winning planning and grid permissions for comparable projects in the gas industry, on the same property in virtually identical caverns.
OEM’s for the main equipment are numerous as this equipment is considered off the shelf and only adapted to the ambient conditions of the new location. However, we see the advantages of business partnerships and as such we are in discussions with several such as Siemens, GE, Doosan, Sulzer amongst others.
The thermal storage device is an important part of the system design and as such the supply side is considered confidential.
Several EPC and General Engineering Contractors are in discussions with us to tender for the 1st project FEED work and help screen future projects.
BEIS, the British Government’s Department of Business, Energy and Industrial Strategy (formerly the Department of Energy and Climate Change (DECC)) has provided Storelectric with funding. We look forward to greater funding and work together.
Siemens have modelled the system using their existing, catalogue equipment and are particularly focused on the air subsystem: compression, expansion and generation.
BPE supply process engineering design services
Geostock and KBB Deep are two of the big three global geotechnical firms, supporting us in feasibility studies and project planning. They validate and ensure the structural integrity of salt caverns and (in future) other geologies; they also project manage all related works such as drilling, solution mining, and building a solution mining plant.
Other companies supporting Storelectric include:
Uni of Edinburgh
Storelectric’s proposal is “eminently credible from an energy market perspective … an exciting opportunity.
This appears to compare well with existing technologies such as pumped storage and interconnections.”
The National Grid