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Startup of the Week: Corre Energy

  • Corre Energy develops Long Duration Energy Storage (LDES) projects and products.
  • It stores renewable energy at scale to enable a secure, flexible and affordable green energy system.
  • The startup helps to accelerate the transition to net zero and enhance the security and flexibility of energy systems.

Website: https://corre.energy/

 

 

What is Corre Energy?

 
Corre Energy develops Long Duration Energy Storage (LDES) projects and products. It stores renewable energy at scale to enable a secure, flexible and affordable green energy system. The startup helps to accelerate the transition to net zero and enhance the security and flexibility of energy systems.

‘The EU’s objective is to reach over 80% renewable energy by 2050. Corre Energy is accelerating this energy transition through underground energy storage by developing, building and operating storage systems in salt caverns, specifically hydrogen-fuelled Compressed Air Energy Storage (CAES), green hydrogen production, and storage in salt caverns.’

 

Is there a market for LDES?

 
To put it simply, yes! More and more people are becoming conscious of their own environmental impact and looking for ways to reduce their carbon footprint. This is where renewable energy sources come into play. While they offer low- or zero-carbon emissions, they need an adequate storage solution.

Recently, Matthew Lynn of The Telegraph reported on the plans to keep the UK’s last remaining coal power plant open until at least 2023. In the article, Lynn also discusses renewables and the need for proper storage of this type of energy: ‘renewables might be great in the long term, but until we have lots of excess capacity or new forms of storage, they can’t be relied upon.’

Corre Energy has developed LDES projects and products to store energy at scale to enable a secure, flexible and affordable green energy system.

‘The European and global energy markets are seeing substantial growth of renewables; increased volatility in wholesale prices, including negative prices becoming more common place; and the growing electrification of EVs and heating as governments seek to decarbonise.’

 

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What projects does Corre Energy have?

 
Corre Energy currently has two projects: one in the Netherlands and one in Denmark. These projects both provide a solution for storing renewable energy.

  • ZW1 – This is a Compressed Air Energy Storage (CAES) project in the Netherlands. CAES is a highly flexible large-scale energy storage technology that uses underground storage caverns to store energy. These storage caverns – sometimes known as salt caverns – are created in geological salt deposits by a salt extraction process.
  • DK1 – This is a hydrogen storage project located in Denmark. The Green Hydrogen Hub Denmark aims to be the world’s first project to combine large-scale green hydrogen production with two large-scale energy storage solutions. These storage solutions are underground hydrogen storage and CAES – as used in the Netherlands with the ZW1 project.

 

 
 
 

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