Storelectric, one of the companies 350 PPM helped develop in its earlier stages, has been featured by the BBC for its plans to develop a large-scale energy storage project on Teesside. https://lnkd.in/egJvFUv3

Their TeesCAES project is designed to store electricity as compressed air in underground salt caverns, then release it when the power is needed.
Storelectric has now completed the acquisition of around 550 acres of industrial land on Teesside, and TeesCAES has been included in Ofgem’s minded-to decision list for support under its Long Duration Electricity Storage Cap and Floor scheme.

Out of 171 initial applications, 16 projects were provisionally selected, with TeesCAES the only compressed-air energy storage project on the list.
We’re proud to have played a part in helping Storelectric get to this point.

This is exactly why we like getting involved early, helping good businesses develop and giving them the foundations to go on and achieve something bigger.