Ryken Power

My business partner and I have patent‑pending technology that allows us to participate in the battery storage and oil and gas industries. Our I.P. allows us to convert existing oil and gas wells into grid‑sized storage batteries utilizing electrochemical and electrostatic storage mediums. We essentially convert an existing wellbore into a mile‑long battery utilizing existing infrastructure, speeding up time to market for storage.

By repurposing oil and gas wellbores, we are helping expedite a reduction in greenhouse gases currently emitted from existing oil and gas wells. Because our storage is subterranean, it is also protected from harm that surface‑type storage is currently exposed to, such as weather and human‑initiated events.

We each have been in the oil and gas service industry (“OFS”) for 20 years and currently hold senior management positions in an OFS company with annual revenues of approximately $75MM, and are looking to transition to our own company.

Our technology/business model is very scalable and solves multiple challenges faced within both the oil and gas and energy storage markets. We anticipate business opportunities with various government agencies. Repurposing oil and gas wellbores also addresses challenges with inherited orphan wells, and the subterranean location of the battery reduces various security risks inherent in today’s battery storage solutions.