Quidnet Energy and Emissions Reduction Alberta (ERA), with funding from the Government of Alberta, have launched an ambitious project to develop an ultra-low-cost, multi-gigawatt geologic energy storage resource in Alberta, utilizing Quidnet’s modular pumped hydro storage technology.
The Alberta project is a key part of Quidnet’s mission to accelerate decarbonization by developing and deploying similar-scaled geologic storage resources in major wholesale electricity markets throughout North America. The project has received $5 million in funding from ERA and will take place at Quidnet’s geologic test site in Brooks, AB.
Quidnet’s Geomechanical Pumped Storage (GPS) technology stores energy in the form of water compressed between layers of shale and enables renewable energy projects to store excess energy for extended periods of time, to be released when the grid needs power.
“Alberta is seizing the opportunity to invest in reliable renewable energy projects that will continue to support long-lasting careers in the energy sector,” commented Jason Nixon, Minister of Environment and Parks, Government of Alberta. “Energy storage solutions like the one developed by Quidnet Energy, store excess energy from renewables in geological formations and dispatch it when demand increases on the power grid. By unleashing further private sector investments in clean energy solutions, Albertans can continue to build careers in this dynamic industry that is helping to grow and diversify our provincial economy.”
Quidnet is developing energy storage projects in Texas, Ohio, and New York State, demonstrating GPS technology’s cost-efficiency, terrain-variable deployment, and modular, long-duration capabilities. With per-kilowatt installed costs projected at less than 50 percent of batteries and traditional pumped storage, the Quidnet Energy systems can be configured for applications with 10-hours or more of storage duration. The modular design allows it to be scaled to the needs of specific projects and built on a diverse array of terrain.
“Quidnet’s GPS technology is a novel form of hydroelectric energy storage. It uses time-tested well-drilling and construction technologies to pump water under pressure into subsurface geologic formations to store energy. When the stored energy is needed, the water is released to drive hydroelectric turbines to power the electric grid," Joe Zhou, Quidnet Energy CEO explained.
With successful completion of the project, Quidnet would look to deploy GPS facilities across the Alberta power grid, including near solar and wind power facilities.