Following our victory in the NAM Challenge earlier this year, NAM have entered into a non-disclosure agreement with us to take our work together to the next level. They have authorised the following statement:

“NAM is interested in the transition from fossil to renewable energy in the Netherlands and to that end initiated the NAM70 Challenge to explore the best grid scale technologies available today. Storelectric won the competition with a unanimous vote from a 5 member jury panel consisting of key stakeholders in the energy sector namely NAM, Royal Haskoning DHV, VEMW & New Energy Coalition, Ecorys, Delft University of Technology.”

As a follow up on NAM 70 Challenge, NAM and STORELECTRIC are exploring the potential of the opportunity to develop, construct and/or operate one or more CAES plants through a feasibility study (the “Project”).

For this purpose, Parties are interested in undertaking discussions in relation to the Project.

In relation to and in order to facilitate such discussions, the Parties have entered into an Agreement to enable them to share information and work together.

In case NAM and/or its Affiliates decide to jointly and collaboratively develop construct and/or operate one or more CAES plants with STORELECTRIC, further details will be described in form of a collaboration agreement.