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 and as our storage is subterranean, also protects from harm that surface type storage is currently exposed to like weather and human initiated events. We are ready to proceed with the building of our prototype and full-scale model here in Texas and seeking investment funding to do so.
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 looking to transition to our own company.
The funding we are currently seeking phase 1 funding of $300k which will be used to finish our form factor design and build/test a scaled down prototype to prove up our current design which utilizes hybrid super capacitors. We have a manufacturing partner on standby to begin upon funding. Upon successful completion and testing of the prototype, we will be seeking funding for our phase 2 build out which includes the build out of a full scale, mile long (vertical) battery within a wellbore.
Our technology/business model is very scalable and comes with strong returns on invested capital while solving multiple challenges faced within both the Oil and Gas and Energy storage markets. We anticipate business opportunities with various government agencies as well as repurposing Oil and Gas wellbores solves challenges on inherited orphan wells and due to the subterranean location of the battery reduces various security risks inherent in today’s battery storage solutions.
If this is something of interest and you believe it fits into your portfolio, we would enjoy the opportunity of discussing this further with you.
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