# Quidnet Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/quidnet-energy

- Industry: Energy Storage & Batteries
- Headquarters: Houston, US
- Website: www.quidnetenergy.com
- Total disclosed funding: $11M
- Latest round: Series B (May 22, 2020)
- Investors on record: 6

## About

Based in the US, Quidnet Energy Inc. specializes in innovative energy storage solutions utilizing Geomechanical Energy Storage technology to effectively manage and store excess electricity, particularly from renewable sources.Quidnet Energy Inc. operates in Houston, US, focusing on Geomechanical Energy Storage (GES) technology. Founded in 2013 by Aaron Mandell and Howard Schmidt, the company has completed 7 deals to date. In May 2024, it raised USD 10.00 mn from Hunt Energy, LLC. The funding is aimed at enhancing its operations in Texas.Quidnet Energy specializes in Geomechanical Energy Storage (GES), a modular long-duration energy storage technology designed to store excess electricity using underground water reservoirs. This system pumps water from a surface pond into a well, where it is held under pressure. When energy is required, the pressurized water is released to flow through a turbine, generating electricity before returning to the pond for subsequent cycles. Quidnet’s technology provides firm, reliable power to utility companies and energy providers, addressing the intermittent nature of renewable energy sources, with significant projects underway in Texas.Quidnet Energy's revenue model relies on partnerships and project collaborations with utility companies, such as CPS Energy, for large-scale installations of their Geomechanical Pumped Storage (GPS) systems. These collaborations include development and installation services for GES systems, tailored to meet specific energy demands, which are essential for funding further project expansions across various geographies.In May 2024, Quidnet Energy Inc. secured USD 10.00 mn in funding, which will be utilized to implement 300 MW of geomechanical energy storage facilities in Texas. The company's growth strategy includes expanding its market presence and enhancing reliability in energy systems to support the state's energy transition.

## Funding rounds

- Series B, May 22, 2020, $10M — Breakthrough Energy Ventures, Evok Innovations, Trafigura, Neglected Climate Opportunities
- Seed, Aug 3, 2016, $1M — Clean Energy Venture Group, Sorenson Impact Foundation

## Investors

- Clean Energy Venture Group (https://capitalatlas.ai/funds/clean-energy-venture-group) — Seed
- Sorenson Impact Foundation — Seed
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series B
- Evok Innovations (https://capitalatlas.ai/funds/evok-innovations) — Series B
- Trafigura — Series B
- Neglected Climate Opportunities (https://capitalatlas.ai/funds/neglected-climate-opportunities) — Series B