Joseph Jayaraj, EsTeq Executive Director2 Aug 2019 17:08
Lets not forget about Joseph's director salary too, making a total of 5 directors that will need wages every month cos as Scott once said " we don't do all this for free , we expect to get paid for it obviously . "
Allied Energy Highlights
· 20 year lease secured over first 0.94 acre site in Knowsley capable of hosting a 20MW facility; becomes unconditional upon offtake agreement and funding
· Land lease options secured over 3 farmland sites located in the Liverpool area (each capable of hosting a 25MW energy storage/generating facility)
· Heads of Terms agreed with a leading privately owned property, transport and logistics company for a 2 ha industrial site in Scotland (capable of hosting an initial 50MW energy storage/generating facility)
· Pre-planning process initiated on all sites
· Design work for optimal facility layout initiated with leading battery storage technology & combined heat and power manufacturing companies
· Early discussions with blue chip clients on the potential of supplying their long term localised energy needs for both electricity and heat on long term power purchase agreements (minimum of 15 years)
· Early discussions with potential project finance partners underway
· Preliminary discussions with potential JV partner affiliated with Oxford University for co-location of R&D facility with potential financial support from Scottish Enterprise (for innovation in energy storage system design)
· All sites are being assessed and progressed simultaneously, with a view to commencing construction of the first facility during Q1 2019
And all this has been achieved with only £50k you just couldn't make it up.Trading electricity by buying it cheap when theres a surplice and storing it into batteries that you then sell back later back at a higher price when theres a shortage.
Es Teq has lost this year 90% of its investments ,however that isn't going to stop Chief Ballooner Scott from pinning all of his hopes into Allied Energy after all this was all his big idea.