New Brunswick startup testing energy storage device
Stash Energy’s technology works in conjunction with a heat pump to store energy when it is at its cheapest point of the day for use to help heat
the home during more expensive peak hours.
New Brunswick company founded by three university students has signed
a deal to test an energy storage device they invented, in Summerside.
Stash Energy, based in Fredericton, was co-founded by Jordan Kennie, Daniel Larsen and Erik Hatfield. Kennie and Hatfield are from New Brunswick while
Larsen is from Belfast, P.E.I. All three are students at UNB completing their masters in engineering entrepreneurship.
Since 2015 they’ve been working to create a device that uses smart grid technology to take cheap off-peak energy and store it thermally using a unique
compound they created to do the job and are working to patent. That stored energy can then be used during peak hours when electricity is more expensive.
The system works in conjunction with a heat pump. It’s comparable in size and look to a standard hot water tank
New Brunswick energy storage Startup Stash Energy is getting ready to launch a pilot program to test their technology in Summerside as part
of the Living Lab initiative. Stash Energy was founded by, from left: Daniel Larsen, Jordan Kennie, and Erik Hatfield. Rob Blanchard Photo
UNB University of New Brunswick
“Working with the guys from Summerside Electric and the City of Summerside has just been fantastic. They’ve been great mentors.”
The partnership came about because Larsen listened a presentation from the city during one of his classes at UPEI, which he
attended prior to UNB. He was impressed with the level to which the city was willing to support emerging and innovative electrical technology.
A couple of years later, when the group started to work on their technology, Larsen approached the city.
It’s great to be able to take an innovative project like this to the next level in his home province, said Larsen.
“I like that P.E.I. is doing something innovative and I think it reflects well on the Island,” he said.
“A lot of much bigger players look up to what Summerside is doing,” he added.
If the Stash Energy pilot project goes well, the company hopes to start offering units for sale within a couple
of years. They estimate their systems could save homeowners another 30 per cent on their heating
costs in addition to savings from a heat pump. “Big picture for the company would be to have one of these (systems)
in every home. But realistically, if one in four New Brunswick homes had our unit, heat pump and storage, we would be
able to decommission one of our coal generating stations,” said Kennie.