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October 3, 2018The University at Albany Announces Key Capture Energy Joins START-UP NY Program
The University at Albany has announced that Key Capture Energy has joined the START-UP NY Program. The company, partnering with UAlbany through the program, plans to invest more than $250,000 and create at least 10 jobs locally.
Key Capture Energy is an independent developer of utility-scale battery storage projects. The company identifies, prospects, develops and deploys energy storage applications which address:
• Wholesale market revenues
• Capacity
• Energy arbitrage
• Ancillary services
• Non-wires alternatives
The startup will re-locate its headquarters from Houston, Texas to Albany, according to Dan Fitzgerald, co-founder and chief development officer of the company.
Fitzgerald, a UAlbany alum, said joining the START-UP NY Program will allow Key Capture Energy to contribute to the state’s economic development as well as its clean energy future.
“As a lifelong resident of New York State and a graduate of the state university system, I am pleased for Key Capture Energy to join START-UP NY in this endeavor,” Fitzgerald said. “In my career as a developer of renewable energy in New York, I’ve had the pleasure of harnessing clean energy resources within the state, and I look forward to the great opportunity to utilize the intellectual resources of the state university system.”
As a START-UP NY participant sponsored by UAlbany, Key Capture Energy will collaborate with faculty from the University to develop energy storage technology, and it will offer employment and internship opportunities for students, according to Matt Grattan, director of community and economic development at the University.
“Key Capture Energy’s partnership with UAlbany under the START-UP NY Program is a testament of our commitment to developing high-demand programs that grow companies with a strategy of hiring the
University’s world-renowned faculty,” Grattan said. “We look forward to a long and mutually-beneficial relationship with Key Capture Energy.”
The company hired Ryan Andrews, a 2016 graduate of the University’s School of Business, following an internship this summer.
The company broke ground on its KCE NY 1 Project last Wednesday, Sept. 26, in Stillwater, N.Y. The event marked the start of construction of the largest lithium-ion battery storage project in New York State, according to Fitzgerald.
He said the project is a key part of the next generation of the New York electric grid, enhancing the power grid’s performance and reliability with reduced carbon emissions, while promoting economic and job growth in upstate New York.
For more information, visit Key Capture Energy’s website.
