Renewell Energy
With renewable energy generation quickly gaining market share, a need is developing for energy storage on a scale the world has never seen before. Concurrently, there are over 3 million inactive oil and gas wells in North America. Our technology will tackle both of these problems simultaneously, massively deploying gravity-based energy storage at a very low added cost. Our solution will build the greenest, most flexible, and largest distributed energy storage network currently feasible. With a potential of over 7 GWhs at $50/kWh, we can deliver the storage necessary for wind and solar to experience uninhibited market share growth. We are developing a low-risk and zero-self-discharge energy storage technology that can operate in both short duration (2 to 8 hours) and long duration (weeks to months) scenarios. Renewell will partner with energy companies to retrofit these already grid-connected wells with a proprietary energy storage device and pair that with an intelligent software-based controls platform to optimize operations.
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Renewell Energy Among 12 Startups in Rice Alliance Clean Energy Accelerator June 2021