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Quidnet Energy, a provider of geomechanical energy storage (GES) technology, has joined hands with distributed energy resources developer Hunt Energy Network to deliver 300 MW of storage projects in the Electric Reliability Council of Texas (ERCOT) grid operating region.
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. |
