Quidnet Energy Inc

The Proposed Project Is a 30-MONTH Program Led by Quidnet Energy to Demonstrate the Commercial Feasibility of Reservoir-based Geomechanical Pumped Storage (GPS-R), an Innovative Form of Long-duration Energy Storage That Is Modular, Untethered to Mountainous Terrains, Fast to Permit, and Deployable at a Fraction of the Capex of Traditional Pumped Storage and a Levelized Cost of Storage Comparable to Existing Natural Gas Power Generation. GPS-R Also Stands Out Among Energy Storage Technologies in Its Ability to Genuinely Employ and Transition the Oil and Gas Workforce. the Two Phases of the Proposed Work Scope Cover Two Budget Periods as Outlined Below. Phase 1 (budget Period 1) – Field Validation & Commercial Feasibility • Expected Results: Wells (and Associated Lease), Permits and Approvals Secured. Reservoir Productivity Data and Well Testing Data Obtained Through Field Testing. GPS-R Reservoir and Tea Model Developed to Validate Commercial Viability. • Community Benefits Plan Results: Re-use of an Old Oil and Gas Well for Testing, Providing Leasing Payments to Associated Landowners, and Putting Oil and Gas Workers to Work to Execute Field Testing. Phase 2 (budget Period 2) – Commercialization Planning • Expected Results: GPS-R System Level Design and Costing Completed. National GPS-R Resource Assessment Delivered. Project Development Plan Generated for a Near-term Commercial-demonstration Project. • Community Benefits Plan Results: Resource Estimates Identified Within Disadvantaged Communities as Part of National GPS-R Resource Assessment. Successful Completion of the Proposed Project Would Demonstrate GPS-R in Real-world Field Environments at 100+ KW Hydraulic Capacity for Various Cycling Durations, Use Those Field Test Results to Validate Well Performance Assumptions and Inform Commercial-scale Project Economics (targeting 10+% Unlevered Internal Rate of Return (irr), and Identify Grid-scale GPS-R Resources in the Us; All Together to Enable Follow-on Financing for a Full-system Commercial Demonstration.