Quidnet Achieves Major Milestones in US Department of Energy Contracts
HOUSTON, April 20, 2021 /PRNewswire/ -- Quidnet Energy (Quidnet) today announced it has achieved two key milestones in its projects with the US Department of Energy's Water Power Technology Office (WPTO) and Advanced Research Projects Agency–Energy (ARPA-E), to commercialize the company's Geomechanical Pumped Storage (GPS) technology.
Quidnet pumps water underground and stores it in-between layers of rock. The natural elasticity of the rock performs like a spring and holds the water under pressure until it is needed, at which time it is released through a hydroelectric turbine to produce electricity to send back to the grid.
Quidnet partnered with the WPTO through its HydroWIRES Initiative to develop an innovative reversible injector-generator that will enable deployment of modular hydropower conversion in high-pressure pumped hydro applications such as for Quidnet's GPS technology. The milestone was achieved by the completion of system-level design and engineering as well as testing of key operating components in an industrial machining facility in New York State.
Quidnet is working with ARPA-E through their Duration Addition to electricitY Storage (DAYS) program to develop the GPS resource in key power markets across the US by planning and executing exploratory wells to characterize, evaluate, and validate this geologic resource. This milestone is marked by the completion of project development of the exploration well sites – including sites that reuse inactive O&G wells – and achieving resource performance targets during exploration well hydraulic testing. Analogous work was performed by DOE in the early 2000s to similarly characterize North American wind resources.
"WPTO and ARPA-E have been vital partners in the development of our long duration energy storage technology," said Joe Zhou, Quidnet CEO. "These leading energy technology organizations have brought valuable resources and oversight to the development process, helping steward our technology toward commercialization. Their experience, guidance and partnership are very much appreciated."
"Long duration storage technologies such as Quidnet's can play a crucial role in advancing our transition to a zero-carbon electric grid," said Jenn Garson, WPTO Acting Outreach, Engagement & Analysis Manager. "Based on the strong results we have seen to date, we are optimistic about Quidnet's contribution to our energy future."
"Quidnet Energy, as well as the rest of ARPA-E's DAYS teams, are working to develop innovative long-duration energy storage systems and create new technologies to increase grid resilience and performance," said ARPA-E DAYS Program Director Dr. Scott Litzelman. "We look forward to continuing to work closely with Quidnet as they continue to design energy storage solutions of the future."
Quidnet's technology operates in a closed loop configuration, powered by excess grid electricity. Because most of the process is subsurface, projects have a relatively small footprint (well head, pump/generator building, and holding pond), allowing farmers and landowners to generate significant new lease revenue with minor impact.
Quidnet utilizes much of the same subsurface knowledge, workforce, and supply chains as the oil and gas industry, making it a seamless opportunity to re-channel thousands of displaced workers—and the supply chains they operate--toward accelerating a clean energy future. Early resource investigations project sufficient North American geologic resources to provide multiple times the long duration energy storage needed by the grid.
"The very talented, dedicated and rapidly-growing Quidnet team is hyper-focused on ensuring a reliable energy transition," said Quidnet CEO Joe Zhou. "We are committed to being a major part of the solution."
About Quidnet Energy – Based in Houston, Texas with offices in San Francisco, CA and Saratoga Springs, NY, Quidnet's patented GPS technology utilizes excess renewable energy to store water beneath ground under pressure. When renewable energy is not producing this pressurized water drives hydroelectric turbines producing electricity to support the grid at a fraction of the cost of Li-ion and for much longer duration. Quidnet's technology is an adaptation of centuries-old gravity-powered "pumped storage," but without the massive land requirements and reliance on elevated terrain. Please visit www.quidnetenergy.com
Contact:
Steven C. Sullivan
518-441-7272
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SOURCE Quidnet Energy
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