Finalist of the Cleantech against Climate Change category Electrochaea converts electrical power into chemical energy in methane: “Power to Gas”. This process allows arbitrage between electricity and gas prices with the greatest possible flexibility to maximize value creation in each side of the market at any point in time. The technology offers a solution to the pressing problems of excess electricity, lack of green fuels, supply-demand imbalances and need for grid de-congestion beyond software solutions. Find out more about this smart start-up here: http://www.electrochaea.com/
Tell us the story behind your project/company?
Electrochaea GmbH is a start-up company, based in Planegg, Germany, that has developed a disruptive grid-scale energy storage technology. The process uses a simple and robust bio-catalytic methanation system that is scalable over a broad range of conversion and storage applications. In contrast to start-ups that migrate their headquarters across the Atlantic Ocean looking to conquer the U.S. market; Electrochaea migrated from the U.S.A. to Germany in 2014! This move was driven by the availability of venture capital for cleantech and the strong market signals for renewable energy in Europe.
What makes you passionate about your project?
Our offering allows long-term storage of intermittent renewable power and, at the same time, makes this power available for other sectors like transportation and heating enabling other sectors to reach their decarbonization goals.
What in the energy, sustainability, and start-up world keeps you up at night?
Large amounts of intermittent renewable energy and the capital invested for its production are not being put to best use for decarbonizing the global economy. The broad international consensus for reducing CO2 emissions is at risk of missing critical milestones not because of a lack of available solutions but because it is difficult to change regulatory regimes are inhibiting capital flows into novel solutions.
Tell us what happened after your project/company was selected to be a finalist at SET2017.
Large amounts of intermittent renewable energy and the capital invested for its production are not being put to best use for decarbonizing the global economy. The broad international consensus for reducing CO2 emissions is at risk of missing critical milestones not because of a lack of available solutions but because it is difficult to change regulatory regimes are inhibiting capital flows into novel solutions.
What stands out for you when you remember SET2017?
We were deeply impressed with the mission and personal commitment of grass root innovators from developing countries who clearly showed a dedication to make a difference to their local community and spread their ideas and enthusiasm around the globe.
Has SET17 supported your project and/or company, and how?
Following up on the SET17 we were given the chance to pitch our company at the dena Jahreskongress recently, another great opportunity to reach out to relevant stakeholders.
