From pv magazine ESS News site
Houston-based long-duration energy storage developer Quidnet Energy has announced a major deal that could see hundreds of megawatts of its innovative technology deployed in Texas to help address ERCOT’s urgent need for energy storage.
The company has announced a strategic partnership with a $10 million investment from Hunt Energy Network (HEN), a distributed energy resources developer with experience in subsurface development.
The two Texas-based companies will collaborate on a build-transfer program for 300 MW of projects utilizing Quidnet Energy’s GES technology, which relies on well-sealed underground reservoirs for energy storage.
The partnership will pair Quidnet’s solution with HEN’s similar subsurface technologies and its capabilities in developing energy storage projects, the companies said in a release.
“Quidnet Energy’s GES technology presents a unique opportunity to revolutionize energy storage, and we’re excited to invest in a solution that purposefully transforms existing resources to expand access to long-duration storage,” said Pat Wood, III, Chief Executive Officer for Hunt Energy Network.
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