Irish-led but Dutch-based Corre Energy has made a number of key appointments across Europe as the company continues its growth in energy storage.
The company, which is currently developing compressed air energy storage schemes in the Netherlands and Denmark, has appointed a project director for Denmark, a senior engineering project manager in the Netherlands and 12 other appointments across the UK, Germany and Italy. Corre is planning to develop additional schemes in Germany and further afield including the US, Middle East, and southeast Asia.
“Corre Energy has rapidly proved itself to be a leader in the development and operation of Long Duration Energy Storage projects to help accelerate the transition to net zero, and to enhance security and flexibility of our energy systems, which have been further stretched against the sudden and heart-breaking conflict unfolding in eastern Europe,” said Patrick McClughan, chief strategy officer.
“Any technology which helps to stabilise the situation in the medium term, and aid with the transition to more sustainable energy production is welcome to policy makers at the moment.”
Market size
A report published recently by Global Industry Analysts estimated the worldwide compressed air energy storage market will reach $10.3 billion (€9.2 billion) by 2026.
Established in 2018, the renewable energy company is focused on the development, construction and future operation of grid-scale underground storage facilities, as well as the production and sale of green hydrogen.
The company floated on the growth market operated by Euronext Dublin last year at a market value of €62 million, after raising €12 million in an initial public offering (IPO).
