WHO ARE WE?
Pumped Hydro Storage was started by enthusiasts with extensive experience in the field of renewable energy. Our vision is to be able to take sites that currently represent an environmental burden, and bring them into the ecocycle to produce cost-effective, renewable energy. We are a fast-growing company with personnel who are passionate about one thing: innovative technology for a sustainable future. Our vision is to be involved in the energy mix of the future, and to help resolve the world’s problems when it comes to large-scale energy storage.
From that starting point, Pumped Hydro was founded in 2017. We had an idea of how major issues in green energy could be solved through so-called pumped-storage power plants and new technology. Mines are an example of how hydropower can be stored, developed and projected without significant impact on the environment.
SEE HOW IT WORKS
“Renewable electricity should be able to be used where and when it’s required, thanks to a battery of water"
BOARD AND MANAGEMENT
More and more people are realising the importance of developing innovative environmental technology. Pumped Hydro Storage’s vision has attracted many experienced entrepreneurs and investors in the cleantech sector. Some of them are presented here.
Otto has more than 10 years of experience in running companies within renewable energy in Scandinavia, with a main focus on wind power. End customers to the wind farms have, among others, been companies like IKEA, Fortum and municipal energy companies. Otto has an MBA from the Stockholm School of Economics.
WHY WE ARE NEEDED
The more renewable energy is used, the more important it is to find innovative solutions for storing energy. Solar and wind power are often unreliable sources of energy, with far too great a variation in the amount of electricity produced compared to consumer usage. Moreover, the power grid currently has its own limitations in that it is not possible to transport energy over long distances without high energy losses. It is primarily not the electricity shortage that drives storage – it is the power shortage and the challenges in the electrical grid. Therefore, more options are needed to be able to store the energy when needed.
To accelerate the growth of green electricity, more focus needs to be placed on environmental technology, or cleantech. Long-term climate initiatives calls for innovative new solutions for large-scale energy storage. Pumped Hydro Storage is an important player in the quest for a solution to the complex problems faced by the energy sector today, and has developed the necessary technology.
In a study conducted by Global Market Insights, the global market for pumped-storage power plants is estimated to be valued at $390 billion by 2024. Global market growth is driven by the trend towards more sustainable energy production, where supplements such as pumped-storage power plants are required. The main factors that will primarily drive demand for pumped-storage power plants are the requirements for better stability in the electrical grid, higher efficiency and greater storage capacity.
EASE (European Association for Storage of Energy) estimates that, on average, pumped-storage power plants are 70-80 percent more efficient compared to today’s alternative energy storage technologies.
Pumped Hydro Storage is proud to work
towards the following goals of the UN:
Access to sustainable, reliable and renewable energy and clean fuels is a prerequisite for meeting several of the climate challenges that the world is faced with today.