- Quidnet Energy receives $10 million to commercialize pumped storage technology.
- The main idea is to use excess renewable energy to pump water into the ground.
Quidnet Energy has been selected to receive $10 million in funding from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E).
Quidnet Energy was launched to build energy technology to accelerate the energy transition. In Quidnet Energy’s Geomechanical Pumped Storage (GPS) technology, renewable energy is stored for extended periods in large quantities using existing natural resources. In addition, the company uses existing drilling and hydropower machinery supply chains, according to a release.
The main idea is to use excess renewable energy to pump water into the ground between rock layers where the water would be kept under pressure. The natural elasticity of certain rock formations acts like a spring and keeps the water under pressure. When renewable energy is unavailable, the valve is opened, and the water is released through a hydroelectric turbine to generate electricity. Quidnet said its technology is an adaptation of centuries-old gravity-powered pumped storage, but without the massive land requirements and reliance on elevated terrain.