Storelectric blog

Storelectric blog

Signed up PwC

Building the businessPosted by Mark Howitt Tue, September 23, 2014 18:27

After tough negotiations, Pricewaterhouse Coopers have signed an unprecedented engagement agreement with Storelectric. They are taking a significant shareholding in the business in return for free support of various kinds, such as:
- Strategy
- Corporate, structure
- Financial, commercial
- Trading
- Funding the pilot and first full-scale plants.

They have many reasons for doing this:
- Massive scale energy needed by renewable generators to ensure growth regardless of government support;
- Such storage is needed by the grid to provide peak power and back-up to renewables, as capacity is reducing and becoming more expensive to maintain as back-up;
- Governments across the world have identified truly grid-scale energy storage as a key technology benefiting their economies by billions per economy per annum;
- As DECC said, ours is the first viable solution at this scale;
- Ours is entirely carbon-free for peak smoothing (probably well over 90% of our future output), and low carbon for mass storage;
- This investment fits in well with PwC's ongoing green strategy.

It goes without saying that we have a fantastic amount to gain from this partnership, too! Not least that it will help to close our consortium deals. So, welcome!



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