FORT WORTH, Texas--(BUSINESS WIRE)--TerraStor Energy Corporation ("TerraStor" or the "Company") today announced the completion of a market study commissioned from PA Consulting Group, Inc. (“PA”) to prioritize the market suitability of dozens of US salt deposit sites that TerraStor had previously identified as technically viable for grid-scale compressed air energy storage (“CAES”) projects. The market study included a detailed analysis of utility demand for large-scale, long-duration energy storage in the markets local to TerraStor’s potential projects; the anticipated timing for such demand; and the proximity of such projects to high voltage transmission with available export capability.
Fred Reed, Co-founder and CCO, stated: "Identifying suitable geologic sites is a challenging but critical first step in CAES development. However, given the number of viable sites now identified, prioritizing them for current market need and project executability is an equally difficult task. We were therefore pleased to have collaborated with PA on evaluating our project development pipeline. PA stands apart in having the depth and breadth of expertise on both physical electric infrastructure and electricity market dynamics nationwide to effectively guide us in this complex prioritization exercise.”
TerraStor enables electrical grids to achieve 100% renewable penetration by developing grid-scale, long-duration energy storage systems. The Company deploys advanced compressed air energy storage (ACAES) technology to create giant mechanical batteries, utilizing free and abundant air and natural geology for a clean, simple, and economic storage solution.
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