Renewell Energy

oil wells that end well

Based based in Silicon Valley, California, Renewell Energy works in manufacturing energy, founded in 2020.

Profile

There are over 2 million inactive oil and gas wells in North America. Regulations vary, but in all cases owners are required to remediate them, a collective cost of over $280B. Renewell Energy is creating an energy storage device that can be used in place of remediation, allowing a huge impending expense to massively deploy gravity-based energy storage at a very low added cost. Renewell's solution will build the greenest, most flexible, and largest distributed energy storage network currently feasible. With a potential of over 40 GWhs at $62/kWh, Renewell can deliver the storage necessary for wind and solar to experience uninhibited market share growth.

Within the manufacturing energy space, the company focuses on its core offering rather than a broad product line.

The business is associated with Silicon Valley, California.

Directory data places it at the SOSV portfolio company stage.

Recorded headcount: 2-10 employees.

Website: renewellenergy.com