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.
About
Stefan Streckfus
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.
In the News
America's Top GreenTech Companies 2024, TIME
Mar. 13, 2024
We can turn these gross oil wells into a climate solution!, Pattrn
Jan. 16, 2024
Idle Oil Wells' Next Act? Becoming Batteries for Renewable Energy, Bloomberg
May 5, 2023
Critical Need
Renewell Energy solves two problems with a single technology:
- 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.
- 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.
Potential Impact
To address this challenge, Renewell Energy converts inactive oil and gas wells into renewable energy storage.
Innovation and Advantages
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.
Profile
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
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Last Updated Jan. 30, 2025