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Fossil Fuels Not the Only Underground Energy Resource

July 9, 2019, 7:06 PM

Quidnet Energy Inc., a developer of pumped water energy storage, has a regulatory problem few energy companies face: States aren’t sure how to regulate it.

“We’re not oil and gas, and we’re not strictly geothermal, so nobody knows how to give us a permit to drill to operate a well,” said Howard Schmidt, co-founder of the energy startup, during a panel session at the 2019 Advanced Research Projects Agency-Energy (ARPA-E) Innovation Summit in Denver.

The agency is part of the Department of Energy, and the session’s focus was on the development of subsurface energy resources other than ...