TerraStor Announces Fred E. Reed, Jr. as Chief Commercial Officer

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2023-06-08 22:01:00  • 4 mins

TerraStor Energy Corporation ("TerraStor" or the "Company") today announced the addition of Fred E. Reed, Jr. to its founding executive team as TerraStor's Co-founder and Chief Commercial Officer. In this role, Mr. Reed holds responsibility for (i) identifying commercial opportunities for grid-scale long-duration energy storage across the geographic footprint of TerraStor's potential compressed air energy storage ("CAES") projects; (ii) leading the negotiation and execution of storage purchase agreements with customers; and (iii) playing a key role in the development of TerraStor's projects.

Matthew Ciardiello, Co-founder and CEO stated: "We are thrilled to bring Fred onto the founding team as a major partner in our venture to develop multi-gigawatt-hour energy storage facilities utilizing CAES technology. Fred's extensive experience in power development, construction, finance, and operations perfectly complements that of our team. Together we have over 80 years' experience that is effectively purpose-built for tackling the unique challenges of developing power-plant-scale CAES projects, with their geologic, surface facility, and project-finance aspects."

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