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Economics & trade

New initiative for large-scale energy storage

By Otto Werrneskog 2020-02-15
New technology and new solutions therefore become an increasingly important element
Increases possible amount of energy to the grid with at least 10 percent. However the transition to fossil-free electricity will take sacrifices.

New technology and new solutions therefore become an increasingly important element of regeneration and more and more are looking for new environmental technologies required for the transition to renewable energy, but the energy is often large, complex and not least capital-intensive. This is Pumped Hydro Storage Sweden AB with its expertise in the energy sector comes into the picture.

Large-scale energy storage

Pumped Hydro Storage has done its objective to show that it is possible to optimize and increase the possible amount of energy to the grid with at least another 10 percent. The company president Otto Werneskog comment wager:

- With our experience in the billion-in the wind power industry, we realized that the piece that is missing in the energy sector at the moment is large-scale energy storage. We had an idea of ​​how this could be solved by so-called pumped storage power plants and new technology. Abandoned mines are examples of how hydropower can be stored, developed and planned without any major impact on the environment.

Optimization using AI

However, the company also wants to optimize the existing hydro power, something that is currently managed by a proprietary AI platform. Today 'By having IT systems automatically analyze a variety of data variables you can control that the amount of green electricity is always as high as possible in the networks.

The energy is often large, complex and not least capital-intensive

Turnkey pump power

Pumped Hydro Storage means long-term goal is to become a leading supplier of turnkey pumped storage plant. But like all major energy takes such a time. The in-house design and complete hydropower plant with a capacity of more than 20MW will take 4-5 years and require significant investment.

The focus in the near future is therefore to verify and further develop our AI platform cooperation with Swedish partners.We are currently working to collect and evaluate data from one of the leading power producers. The goal is to soon be able to license out to players and thus be able to get a stable cash flow.

Two new partnerships with utilities

The company now operates the two energy companies. The goal is to show that it is possible to optimize, but other investments, increase the possible amount of energy to the grid by at least another 10 percent.

- We are currently working to collect and evaluate data from leading power producers. The goal is to soon be able to out-license our system to operators in order to obtain a stable cash flow,He adds that the topic is hot and there is great interest in investor meetings in connection with the ongoing share issue. The company has big ambitions and are already planning to become a listed company in the listing on First North NASDAQ in four years with a market capitalization of 500 million and is among other Swedish environmental technology companies such as Minesto and Climeon. < / p>

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