About the company
Type
Company
Members type
innovator
Headquarters
Trafalgar Square, Charing Cross, London WC2N 5DU, UK
Company size
5
Founders
Mark Howitt, Jeff Draper
Founded
2013
SDG's
Affordable and clean energy
Social
Website
http://www.storelectric.com
Alliance member
Storelectric Limited
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.
TES CAES
Description
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
Energy storage
Status
R&D
CCGT CAES
Description
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.
Status
R&D