The Paradigm Shift in Energy Storage®

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FastCAP Competing as a Finalist in Defense Energy Technology Challenge

FastCAP Systems has been invited to present its technology as a finalist in the 5th bi-annual Defense Energy Technology Challenge. FastCAP is one of 20 companies invited to present out of more than 200 applicants. Awardees will present their energy technologies at the Pacific Defense Energy Summit in Honolulu Hawaii, September 15-17, 2014. The program is co-located with the Asia Pacific Clean Energy Summit and the Asia Pacific Resilience Innovation Summit, convening global leadership across the resilience pillars of energy, agriculture, water and security.

To view the 2014 Pacific Defense Energy Technology Challenge Awardees, please follow the link below.

FastCAP Invited to Present at the Geothermal Resources Council (GRC) Annual Summit

FastCAP Systems will present its technical paper entitled "Downhole Power Source for Geothermal Drilling and Well Development Enabled by a Novel Extreme High Temperature Ultracapacitor" this fall at the largest geothermal conference and expo in the world - the GRC Annual Meeting and Expo. The 38th annual event, taking place in Portland Oregon on September 28-October 1, focuses on the promotion of geothermal energy as a global energy solution and was created to bring together leading minds and emerging technologies in the geothermal energy space. FastCAP's most recent breakthrough in high temperature energy storage, an ultracapacitor that operates safely and reliably at 200C, was developed under a DOE Geothermal Technologies Office grant and was recently validated by Sandia National Laboratory. This technology, along with FastCAP's ongoing development of a 250C ultracapacitor, will be presented at the summit. Both technologies hold great promise in enabling efficient and effective directional drilling capabilities in the geothermal context.

FastCAP to Present at the World Oil HPHT Conference

FastCAP Systems' CEO, Dr. Riccardo Signorelli, will speak at the 2014 World Oil HPHT Drilling and Completions Conference on September 23rd in Houston Texas. The ninth annual event features high level technical discussions exploring the latest in breakthrough high temperature and pressure technologies. The event will feature approximately twenty five presentations from top industry experts, including Baker Hughes, Chevron, Halliburton, Schumberger, Weatherford, Pemex and GE Oil and Gas. FastCAP will present its high temperature ultracapacitor and power systems technologies and their applications in HPHT wells. Please join us on September 23rd, Session III for an engaging discussion of FastCAP's technologies and their breakthrough applications in HPHT wells.

The Department of Energy Features FastCAP's High Temperature Technology

The Department of Energy celebrated FastCAP's recent breakthrough in high temperature energy storage in an email and social media campaign this week. To read the article, please click the link below:

FastCAP Announces Major Breakthrough in High Temperature Energy Storage

FastCAP Systems announced today that its newest technology, an ultracapacitor (ultracap) that reliably operates in extreme temperatures (200˚C, or roughly 400˚F), has successfully completed third party validation testing by Sandia National Laboratory. The newly validated ultracaps, celebrated as the highest temperature rechargeable energy storage devices in the world, mark a new frontier in ultracap development with major implications in a variety of industries, from energy exploration to defense, and vehicles to consumer electronics. The devices, which are expected to be released commercially later this year for use in the oil, gas and geothermal industries, were developed under a grant that FastCAP received from the Department of Energy Geothermal Technologies Office (GTO) in 2012. By the end of the program in 2015, FastCAP expects to have devices validated for performance at 250˚C.

The absence of safe, reliable energy storage is a pain point in many industries, from vehicles to aeronautics to traditional energy exploration. FastCAP has found a niche for its high temperature ultracaps in the oil and gas industry, utilizing its technology in systems deployed while drilling, making the drilling process safer, data driven and more efficient. FastCAP’s existing commercial ultracaps, the first in the world to operate at 150˚C, served as a starting point for the GTO research and development. “We are making a big impact in oil and gas, addressing a long existing need of oil service companies, so this is an exciting beach head market for us” stated Riccardo Signorelli, CEO of FastCAP. “But FastCAP is a clean technology company at heart, and the long term mission with our drilling technology product line is to enable a new era of geothermal energy exploration and development,” he noted. Geothermal energy is a virtually unlimited, carbonless energy source that is available 24/7, anywhere in the world. It does not present problems typically associated with other energy sources, such as intermittency with renewables, toxic wastes with nuclear, and CO2 emissions with fossil fuels. Signorelli considers the most significant obstacle to widespread deployment of geothermal energy production an engineering problem that FastCAP can solve with its technology: “Being able to drill for geothermal energy more efficiently and intelligently is the key to enabling widespread geothermal energy development, and this is something that we enable with our high temperature downhole power sources.”

It is widely understood that if the intelligent drilling and smart well techniques that are currently ubiquitous in the oil and gas industry were deployed in the geothermal context, geothermal energy would quickly become a major contender to meet global energy demand. One of the most significant obstacles that stands in the way of such deployment are limitations related to the maximum operating temperatures of downhole batteries used in the oil and gas industry, which currently provide power for downhole sensors, steering tools, telemetry equipment and other technologies. The lack of energy storage devices that can operate reliably and safely at temperatures encountered in geothermal wells is perhaps the most significant obstacle standing in the way of deployment of MWD/LWD techniques and smart well technologies in geothermal applications.

During the validation testing of FastCAP’s cells, which was performed at Sandia National Laboratory in May, two prototypes were held at constant max voltage at 200˚C+ for more than 500 hours. The cells showed little performance degradation over this timeframe. Similar tests performed in parallel with the Sandia tests in the FastCAP laboratory over longer timeframes have shown the cells to perform failure free for more than 2,500 hours. The stable performance and extreme long life of these cells position the technology for commercial deployment without further development. “It was important to us to showcase a hermetically sealed and commercial ready technology, as opposed to a small piece of a cell tested in a controlled laboratory experiment,” noted Nicolò Brambilla, a Senior Engineer and Team Lead for FastCAP’s GTO program. “These cells are ready to enter the market and will start making an impact in the short term.”

FastCAP is engaged with multiple partners in the geothermal and oil and gas industries, both in the U.S. and abroad, who are eager to integrate the technology into their drilling operations. The company expects the new technology to be demonstrated in a well by early 2015. “Once you enable the advanced drilling techniques that are already standard practice in the oil and gas industry in the geothermal context, widespread deployment of this vast energy source quickly becomes a sound economical prospect,” Signorelli noted. “It’s the enormous promise of geothermal energy that keeps the FastCAP team up at night - the potential for positive change in our energy future is truly huge.” 

To view the Sandia National Laboratory report, please click here:

 

FastCAP Systems Acquires Key Technology from Canada-Based Calmena, Expands into New Oil, Gas and Geothermal Markets

BOSTON, MA – INNOVATION DISTRICT. FastCAP Exploration Technologies Ltd. (“FET”), a newly formed subsidiary of FastCAP Systems Corporation (“FSC”) in Boston, Massachusetts has acquired key technology, assets and team members of Calmena Energy Services Inc.’s (“Calmena”) Directional Drilling Technologies, based in Calgary, Alberta. FSC has developed and commercialized world record breaking high performance ultracapacitor based power systems, and intends for FET to focus specifically on FSC’s extreme environment products and services for the oil, gas and geothermal industries.

Central to the acquisition is Calmena’s non-compensated rotary pulser, which when combined with FastCAP’s Ulysses Extreme Power System (Ulyss EP®), will enable achievement of three to four times the torque of rotary pulsers on the market today. This capability will enable directional drilling service companies to operate reliably in high flow rates and high concentrations of lost circulation material.  FET’s high torque technology will offer unprecedented resilience to service companies and operators by preventing expensive trip outs and reducing non-productive time.

"We are excited about the new technology and solutions that this acquisition will enable us to offer to the oil and gas industry, and about the new frontiers that these systems will enable operators to explore," noted Dr. Riccardo Signorelli, President of FastCAP Exploration Technologies. 

“Calmena views this transaction as strategically beneficial to both parties. While we continue to deliver onshore directional field services through our core business operations in the United States, we are excited about collaborating closely with FastCAP through their development and commercialization of these new and exciting directional drilling technologies,” added John King, President and Chief Executive Officer of Calgary based Calmena.