Terrament was founded at the start of 2020 and has filed two patent applications for our innovative approach to underground energy storage. We are now seeking $1 million in pre-seed funding.
Terrament's gravity storage design was inspired by a related technology called Underground Pumped Hydro Storage, or UPHS. In fact, the company was born out of a research project exploring the feasibility UPHS. By leveraging our UPHS research to spark discussions with industry experts and validate our market assumptions, we demonstrated that Terrament's concept was not just viable, it was urgently needed.
We are proud to have been selected to join the CEBIP accelerator program. CEBIP, the Clean Energy Business Incubator Program, is supported by Stony Brook University and the New York State Energy Research and Development Authority (NYSERDA).
We're also grateful to have been selected as a 2023 Fellowship Founder at Newlab. The founder fellowship is run in partnership with the New York City Economic Development Corporation (NYCEDC)’s Venture Access NYC initiative.