Storelectric Ltd (SE) (www.storelectric.com), the developer of highly efficient forms of compressed air energy storage, is pleased to announce the appointment of Trevor Bailey as Chairman with immediate effect. The Company also announces that Emerald Capital Partners (ECP) (www.emerald-capitalpartners.com), to whom Trevor is a Senior Advisor, has also taken a minority position in SE.
Trevor is the co-founder of Emerald Operating Partners (EOP), a leading strategic advisory firm focused on energy transition, and has over 30 years of senior executive experience in the power generation
industry. Trevor is also a Senior Advisor with Emerald Capital Partners (ECP), an ESG-focused private equity firm whose investments span from solar power project development to data centre technologies. He will retain these positions alongside his role as Chairman of SE.
Trevor previously held positions at General Electric, where he led Product Management and Engineering in its Power Systems Division. He has acquisition and business consolidation experience, having also been Integration Leader for General Electric’s US$13 billion acquisition of Alstom Power.
Emerald Capital Partners investment
ECP has taken a minority position in SE, and will leverage the expertise of EOP, its sister company, which has an extensive global team of world-class experts with a proven track record of building businesses through operational excellence, providing insights to private equity companies, and executing long-term strategic partnerships with large global corporations such as Mitsubishi Heavy Industries and Kohler Power.
SE is confident that this investment of capital and the skills provided will be critical in continuing to develop effective energy storage technology to help companies and governments pursue their decarbonisation agendas.
Tallat Azad, Managing Director of SE, commented:
“We are delighted to have Trevor and the Emerald team on board, providing significant technology development experience which we believe will help us drive the Company forwards, helping us to achieve our ambitious growth targets. We remain fully focused on continuing to deploy our technology and developing a robust project pipeline.”
Trevor Bailey, the newly appointed Chairman of SE, added:
“Emerald strongly believes in the global potential and impact that SE’s technology will have in complementing current and future renewable energy needs. The scale of these projects will significantly help to provide smooth and uninterrupted renewable energy to power the world’s electricity grids. We will be working with the SE team to continue the development and roll-out these technologies into commercial scale projects. We are all excited by the future of this fantastic partnership”.
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Storelectric’s CAES/Hydrogen (hybrid) technology:
Governments, policy-makers, and corporations are finally realising that the transition from fossil fuels to clean renewable power generation requires (grid scale) long-term energy storage, along with continuous efficiencies in power production. Storelectric is the missing piece of the jigsaw. We are a developer of clean energy projects using more efficient forms of Compressed Air Energy Storage (CAES) at a grid-scale, with a unique hybrid Hydrogen technology. Hydrogen is viewed by many experts as one of the key drivers in the energy transition.