Apex CAES

Investment Status: active

Sector: Electric storage and power generation

Investment Fund: Fund IV

Geography: Texas

Initial Investment: Jan. 1, 2011

Storing compressed air

CAES is a proven power storage and generation technology that involves storing compressed air in underground caverns for use later as a source of energy. 

CAES has unique capabilities to satisfy emerging grid and power market needs.  Currently, Apex is pursuing CAES projects within Texas; however, it plans to target opportunities in other markets where the addition of intermittent wind and solar resources increase the value of grid regulation and time shifting of energy.  Apex is currently permitting its first CAES site on the Bethel salt dome in East Texas and expects to break ground by mid 2014. 

The Apex management team possesses exceptionally strong power industry experience encompassing power development, marketing, commodity risk management, corporate development and finance. Haddington’s experience in CAES includes developing the Norton CAES project in northern Ohio, which was sold in 2010 to FirstEnergy Corp.  Additionally, Haddington has extensive experience developing underground natural gas storage projects.  The combination of a highly accomplished management team and an investor with broad experience in energy storage enhances Apex’s ability to successfully execute on its objectives.  

More information is available at www.apexcaes.com

 

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Operating CAES Unit at PowerSouth's McIntosh, Alabama plant