What Storelectric does

Storelectric Ltd. is a privately-held UK company, founded in 2013 and headquartered in Preston, that develops utility-scale Compressed Air Energy Storage (CAES) projects. The company's core technology stores excess electricity by compressing air underground and releases it to generate power during periods of peak demand, targeting long-duration storage applications of 8 to 22 hours. Storelectric addresses grid imbalance caused by intermittent renewable generation — particularly wind in Northern Scotland — where transmission capacity is insufficient relative to generation output.

The company pursues a project development business model, bidding into government-backed competitive schemes such as the UK Ofgem Long Duration Energy Storage (LDES) cap-and-floor framework. Storelectric is currently shortlisted across 16 projects totaling 7,645 MW in this first UK LDES cap-and-floor round. Its technology is positioned as cost-efficient for extended discharge durations where lithium-ion battery economics weaken. Revenue mechanics are project-based and bespoke, with pricing not publicly disclosed. The go-to-market is enterprise field sales targeting grid operators, energy utilities, and renewable energy developers, rather than conventional distribution channels.

The company operates with a small team of 1-10 employees and a leadership group comprising CEO Tallat Azad, CTO and co-founder Mark Howitt, and CFO and co-founder Jeff Draper. Total disclosed funding to date is approximately $1.26M (2018, 350 PPM), and the company is not yet generating commercial revenue from operating projects.

Name

Storelectric

Legal name

Storelectric Ltd.

Website

https://storelectric.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Compressed Air Energy Storage

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Geologic & Underground Energy Storage (CAES Caverns, Hydrogen Caverns, Reservoir-Based) (EUAFADAF)

akta.pro secondary industry

Stationary Energy Storage Systems (BESS/ESS Integrators) (IMAGAHAD)

Keywords

• Compressed air storage
• Long-duration storage
• Grid energy storage
• CAES project development
• Renewable integration

Headquarters

HQ city

Preston

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Technology or R&D, Supply Chain, Personnel, Operations

Revenue model

1. CAES Project Development: Development and deployment of large-scale compressed air energy storage projects under government incentive schemes such as the UK LDES cap-and-floor framework

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Storelectric develops and deploys large-scale Compressed Air Energy Storage (CAES) projects that store excess electricity by compressing air underground and release it to generate power during peak demand. The company provides utility-scale long-duration energy storage systems (8–22 hours) for grid operators and utilities to support renewable energy integration and grid stability.

Product overview

Storelectric is a compressed air energy storage (CAES) technology company that provides utility-scale energy storage solutions. The company offers CAES systems that store excess electricity by compressing air underground and release it to generate power during peak demand periods. The product fits within the broader LDES (Long-Duration Energy Storage) category and supports renewable energy integration and grid stability. The technology has been recognized as one of the selected projects in the UK's first LDES cap-and-floor scheme, with projects ranging from 8 to 22 hours of storage duration.

Differentiator

Problem solved

Functional benefit

Products and services

• Compressed Air Energy Storage (CAES) Systems Storelectric develops and deploys utility-scale compressed air energy storage systems that store excess electricity by compressing air underground and releasing it to generate power during peak demand. Designed for grid operators, energy utilities, and renewable energy developers requiring long-duration storage (8–22 hours) to support renewable integration and grid stability. The systems are deployed as bespoke large-scale infrastructure projects, including those competing in the UK Ofgem LDES cap-and-floor scheme.

Quantifiable outcome

• Durations ranging from 8 to 22 hours for grid storage applications
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Saft (TotalEnergies): Saft, a TotalEnergies subsidiary, manufactures industrial batteries and is developing long-duration storage solutions for grid applications, making it a broader incumbent competing in the same utility-scale LDES market as Storelectric.
• GE Vernova: GE Vernova provides a broad portfolio of power generation, grid solutions, and energy storage technologies, competing in the larger LDES and grid-services market where Storelectric operates.
• Fluence: Fluence is a leading global battery-based energy storage integrator (BESS), competing with Storelectric in the LDES market for utility-scale project awards, though focused on shorter-duration lithium-ion applications.
• Siemens Energy: Siemens Energy provides broad power generation and grid infrastructure solutions including energy storage and rotating equipment. While not a CAES specialist, it is a major incumbent competing for grid-scale storage and renewable integration contracts.

Direct peers

• Form Energy: Form Energy is developing iron-air battery technology for 100+ hour long-duration storage, competing with Storelectric's CAES in the same utility-scale, multi-hour grid storage market segment.
• Energy Vault: Energy Vault develops long-duration energy storage solutions including gravity-based and hybrid systems, targeting utility-scale grid applications. Competes for the same LDES opportunities and renewable integration customers as Storelectric.
• Hydrostor: Hydrostor is the most direct peer — a developer of utility-scale Advanced Compressed Air Energy Storage (A-CAES) projects, including UK LDES projects. Same core technology (underground CAES), same target customers (grid operators/Utilities), and same regulatory framework (UK cap-and-floor scheme).
• Highview Power: Highview Power develops utility-scale Liquid Air Energy Storage (LAES) systems, a long-duration storage technology competing in the same UK LDES scheme and addressing the same grid-balancing use cases as Storelectric's CAES.

Emerging players

• ESS Inc. ESS Inc. manufactures iron-flow batteries for long-duration energy storage at utility scale, competing directly with Storelectric for multi-hour storage projects under frameworks like the UK LDES scheme.
• Malta Inc. Malta is developing pumped heat energy storage as a long-duration grid storage solution, making it a competitor in the same LDES competitive landscape (alongside CAES, flow batteries, and pumped hydro).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Storelectric