Annette Verschuren, the former president of Home Depot Canada and Asia, has joined a Toronto-based start-up that will commercialize energy storage technologies. Verschuren will serve as executive chair of NRStor Inc., a new company backed by Northwater Capital Management.
NRStor plans to develop Canada's first Energy Storage Park that will demonstrate newly developed technologies that store electrical energy for later use. Such storage technologies can make intermittent sources of energy such as wind turbines and solar energy dispatchable by matching up energy generation and demand.
Some market research firms have estimated more than $120 billion will be invested in energy-storage projects between 2011 and 2021, as governments and regulators have recognized the inherent value and need for energy storage in electricity marketplace.
"I have a reputation for building things, but never have I been so excited about the possible outcomes," Verschuren said. "Energy storage is the missing link to creating a more viable renewable energy sector and satisfying the global crisis of rising electricity demand -- all the puzzle pieces exist and NRStor is going to put them together."
As the former president of Home Depot Canada between 1996 and 2011, Verschuren oversaw the Atlanta retailer’s expansion in that country from 19 to 180 stores. She was also put in charge of Home Depot’s Asia’s operations when the company entered China in 2007.