Every partner business envisages working with us for many years, on numerous installations world-wide. Each one expects our business to account for a significant part of their corporate bottom line and business growth. We are seen as providing a unique opportunity to create a new global market, well ahead of any competition.
Siemens have modelled the system using their existing, catalogue equipment, calculating 62.3% round trip efficiency (all energy out/in) for a 40MW, 800MWh distribution grid scale plant and a reasonable expectation of 68-70% efficiency for the full-scale 500MW, 21GWh plants. They are particularly focused on the air subsystem: compression, expansion and generation. They have expressed their support publicly on this 2.4 minute video.
Pricewaterhouse Coopers (PwC) have delivered free advice and support in market, trading, financial, commercial and structural matters, including financial modelling, on a partnership basis.
Major Chemicals Manufacturer
A chemical manufacturing multinational has offered Storelectric the use of existing gas-optimised salt caverns with 4-8GWh capacity now, with a possibility to expand this in the near future to 40-60GWh, together with the land above them. They have experience winning planning and grid permissions for comparable projects in the gas industry, on the same property in virtually identical caverns.
Dentons LLP, the world’s largest legal practice, has contracted to provide legal services for deferred payment, at risk.
Oswald Consultancy consulting engineers undertook early process analyses. Jim Oswald, CEO, was R&D Director of Rolls-Royce Energy before R-R relocated to Canada; he has access to many of his former team and colleagues to supplement their own internal resources. They are expert in gas turbines (so agreement with Siemens’ steam turbine experts increases confidence greatly), heat exchange and thermal management.
GE Alstom supporting Storelectric with our thermal management subsystem, and with the integration of this with the air subsystem.
Balfour Beatty is supporting Storelectric with our civil engineering, buildings design and project management and also with the electrical sub-system (substation, synchronisation with the grid etc.) will be delivered by one of Siemens and the civils and project management partner.
National Grid is working with Storelectric and PwC to identify and quantify the various revenue streams that we can expect from a full-sized installation. They have offered to develop a conditional contract for future energy off-take, in order to provide commercial comfort to investors.
BEIS, the British Government’s Department of Business, Energy and Industrial Strategy (the part that was formerly the Department of Energy and Climate Change (DECC)) supports the work that Storelectric does, and has provided some funding. We look forward to greater funding and work together.
Likewise, a number of leading universities are also supporting us with their expertise, research and development.
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