CPS Energy partners with Bill Gates-backed startup Quidnet on underground energy storage system
CPS Energy said Monday it has reached an agreement with a startup backed by Bill Gates to use water pumped underground as a battery that will store energy longer than the utility’s current battery systems.
The city-owned utility announced a 15-year partnership with Houston-based Quidnet Energy, which uses hydraulic fracturing technology typically used in the oil and gas industry.
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