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About the company
2 Howick Park Avenue, Penwortham, Preston PR1 0LS
Mark Howitt, Jeff Draper
Affordable and clean energy
Enabling renewables to power the world: the most cost-effective large scale, long duration storage, suitable globally.
Storelectric is developing transmission grid-scale energy storage innovative adiabatic Compressed Air Energy Storage (CAES). Our installations of 500MW, 2.5-21GWh produce zero or ultra-low emissions and will operate at 68-70% round trip efficiency, at a cost of £400m ($530m), and a levelised cost less than half that of gas-fired peaking plants. A second technology enables us to convert existing gas-fired power stations (CCGT or OCGT) into 60% efficient CAES systems at much lower capex, provided they are over a suitable geology. Both use existing, off-the-shelf equipment. These plants address the entire energy trilemma: the world’s most cost-effective and widely implementable large scale energy storage technology, up to 100% clean, turning locally generated renewable energy into dispatchable electricity. They also support the transition to renewables without subsidy, in a level regulatory and commercial playing field. They have the potential to store an entire country’s energy requirements for over a week, and global potential.
The world’s cleanest and most cost-effective transmission grid-scale electricity storage, suitable globally, using CAES.
Transmission grid-scale energy storage innovative adiabatic Thermal Energy Storage (TES) Compressed Air Energy Storage (CAES). Our installations of 500MW, 6-21GWh with zero or low emissions, operate at 68-70% round trip efficiency, at a cost of £300m (€400m), and a levelised cost less than half that of gas-fired peaking plants, and use existing, off-the-shelf equipment. Addresses the entire energy trilemma: the world’s most cost-effective and widely implementable large scale energy storage technology, up to 100% clean, turning locally generated renewable energy into dispatchable electricity. Potential to store the entire continent’s energy requirements for over a week; potential globally is greater still.
Categories of application
Affordable and clean energy
Sector of application
Cheap conversion of suitably located power stations to CAES, almost halving emissions and adding energy storage revenue.
Conversion of suitably located gas-fired power stations (CCGT or OCGT) to Compressed Air Energy Storage (CAES) to store Gigawatt-hours of electricity in underground salt caverns and other geologies. A perfect technology for the transition towards a 100% renewable future. CCGT CAES almost halves emissions while adding storage related revenues, can create value in otherwise stranded assets. A truly grid-scale storage technology with the scalability and affordability to match intermittent renewable energy with variable demand. Makes renewables cost-effective without subsidy, cutting energy costs, reducing grid reinforcement and enhancing energy security. Raising money to build a commercially viable pilot plant.