Energy Storage
AJ Lucas Geosystems
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Overview
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AJ Lucas Geosystems is partnering with Sage Geosystems, Inc to develop a new low-cost and low-footprint Long Duration Energy Storage (LDES) platform called EarthStoreTM.
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The project aims to develop a minimum of 4GW of LDES capacity by 2030, with daily duration capacity ranging between 2 and 24 hours, and ultra-long capacity of multiple days in reserve.
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The technology uses high-pressure water storage in deep tight formations to generate power at a significantly lower cost and environmental impact than pumped hydro.
Technology
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EarthStoreTM is a patented technology exclusively licensed in Australia to AJ Lucas Geosystems by Sage Geosystems, Inc.
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Power is generated from high-pressure water being discharged from deep underground via proven Pelton turbine technology.
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The technology offers a small footprint with minimal environmental and social impact, flexible discharge durations, and the potential to flatten highly volatile electricity prices in the National Electricity Market (NEM).
Key Competitive Advantages
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Small footprint with minimal environmental and social impact.
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Medium-term Levelised Cost Of Storage (LCOS) potential of ~$70/MWh, making it the lowest cost storage technology.
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Ability to shift solar, wind, and other cheap power prices into high-price high-demand periods.
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Flexible discharge durations available: 2, 4, 8, 12, 16, 24, 72+ hour discharge.
Strategic Rationale
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The NEM is forecast to need 36 GW/522 GWh of storage capacity by 2034-35, rising to 56 GW/660 GWh by 2049-50.
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EarthStoreTM's flexibility means it is capable of providing all three of the NEM's storage needs: shallow, medium, and deep storage.
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The technology offers a compelling solution to Australia's current carbon, renewables, and network problems by stabilizing market pricing, creating more supply-side competition, and leveraging a large and untapped workforce.
About AJ Lucas
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AJ Lucas Geosystems was formed through a partnership with Sage Geosystems in 2023.
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The company focuses on industries with high barriers to entry, allowing it to generate high margins using specialized technologies in core energy, utilities, and infrastructure sectors.
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AJ Lucas Services provides fully integrated design and delivery of onshore wells in the energy and infrastructure sectors.
Experienced Leadership
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The leadership team includes founders and key personnel from Sage Geosystems with extensive experience in the oil and gas industry, including Shell, ExxonMobil, and Weatherford.
Development Timeline
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The project is scheduled to begin in 2025 with site finalization, mobilization, and drilling, followed by production testing and phase II commitment.
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