Quidnet partners with ERA on transformative energy storage resource
Category: #business  By Vikas M  Date: 2021-06-19
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Quidnet partners with ERA on transformative energy storage resource

Quidnet Energy and ERA (Emissions Reduction Alberta), launched an ambitious project using modular pumped hydro storage technology to develop a multi-gigawatt (GW), ultra-low-cost geologic energy-storing resource in Alberta backed by funding from the Government of Alberta.

Quidnet aims to boost decarbonization by developing and implementing similar-scaled geologic storage resources in wholesale electricity markets across North America. The project will take place at Quidnet's geologic test location in Brooks, AB, which has secured $5 million in funding from ERA.

Quidnet's GPS (Geomechanical Pumped Storage) technology enables renewable energy projects to store surplus energy for long periods of time, which can be released when the grid needs power. The GPS stores energy in the form of water compressed between layers of shale. Its technology balances the grid and maximizes the use of transmission infrastructure to distribute renewable energy to load centers, allowing the grid to decarbonize.

As stated by Jason Nixon, Minister of Environment and Parks, Government of Alberta, "This opportunity is being grabbed by Alberta for investing in renewable energy projects that will continue to encourage long-term employment opportunities in the energy sector”.

“Albertans can continue to find multiple job opportunities in this dynamic industry that is helping to strengthen and diversify their provincial economy by unleashing further private sector investments in clean energy solutions.”

Steve MacDonald, ERA CEO stated that "Innovation and technical expertise of Alberta's oil and gas industry is being utilized by Quidnet's technology to help resolve challenge with renewable energy, i.e. the need for long-term and reliable energy storage. The project is another example of taking action to develop the resolutions that meet Alberta’s carbon reduction goals.

According to Mike Biddle, Evok Innovations MD, and Quidnet Board Member, “The  energy storage project with Quidnet Energy coupled with Alberta's other investments in carbon emission technologies is establishing the region as an international leader in energy transition and an inspiration for others to follow."

Source Credit - https://www.prnewswire.com/news-releases/quidnet-energy-and-emissions-reduction-alberta-partner-to-develop-transformative-energy-storage-resource-301315009.html

 

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