Stefan Streckfus – Sustainable Renewable Energy Storage

Through his work with Renewell Energy, Stefan Streckfus transforms oil and gas liabilities into renewable energy assets by installing gravity energy storage in inactive oil and gas wells.

Stefan Streckfus

Renewell Energy

Streckfus, co-founder and chief technology officer of Renewell Energy, is designing and developing the company's first to-scale prototype and creating the ideal team to build out this concept.

Renewell Energy solves two problems with a single technology:

1. Renewable energy, while low-cost and sustainable, is intermittent and non-dispatchable. Humans need massive amounts of energy storage to shift nature's supply curve (times when wind blows and/or the sun shines) to demand.
2. North America is home to millions of inactive oil and gas wells, many of which leak methane. Additionally, estimated remediation costs average $76,000 per well in the United States.

To address this challenge, Renewell Energy converts inactive oil and gas wells into renewable energy storage.

This solution reduces the cost and carbon footprint of future energy storage needs by:

• Using funding earmarked for well remediation
• Sealing wells during installation to cease methane emissions and other environmental impacts.

Status

Prototype

Industry

• Grid-scale energy storage
• Oil and gas well remediation

Potential Markets

• Oil well owners
• Utilities
• Energy storage aggregators

Looking For

• Industry mentors
• Funding
• Strategic partnerships
• Customer identification
• Subject matter experts