Gravitricity has partnered with firms in the US and Germany to deploy its gravity energy storage solution while Energy Vault has provided an update on its China project.
Gravitricity has signed an agreement with US firm IEA Infrastructure Construction to seek funds for projects in the US from the Bipartisan Infrastructure Bill which provided US$450 million for clean energy projects at mining sites. The company plans to fund up to five projects at current and former mines.
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Gravitricity has also been contracted to investigate the potential of storing energy at a decommissioned mine in Halle, Germany, by the mine’s owner Geiger Group. Investigative work will start in May and, if successful, Gravitricity will deliver a concept design and project development plan to Geiger Group for it to consider the deployment of a full-scale gravity energy storage plant.
Gravitricity develops below ground gravity energy storage systems and raised £40 million to commercialise projects in January this year, as covered by our sister site Solar Power Portal. The firm’s technology works by raising weights in a deep shaft and releasing them when energy is required.
The technology is similar to that employed by Switzerland-headquartered and NYSE-listed Energy Vault, whose CEO Robert Piconi provided an update to its first commercial gravity energy storage project in Rudong, China, in a shareholder letter.
The letter – “From Rudong to Beijing to Mongolia: My insights from Energy Vault’s recent trip to China and the site of the first EVx gravity energy storage system” – provided an update with pictures (below).
“When fully commissioned later this year, the 25 MW, 100 MWh EVx system will be integrated into China’s national energy grid to provide critical storage and delivery of clean renewable energy generated by the adjacent wind farm. This is a significant milestone that brings us one step closer to realising our mission of decarbonisation through the deployment of sustainable energy solutions in the largest energy consumption market in the world,” Piconi said.
It also revealed that the concrete foundations have been completed for the firm’s first gravity storage project in the US, in Georgia with Enel Green Power.
Energy Vault now provides a range of energy storage solutions including battery storage and green hydrogen and is forecasting for US$325-425 million in revenues this year.
Energy-Storage.news’ publisher Solar Media will host the 1st Energy Storage Summit Asia, 11-12 July 2023 in Singapore. The event will help give clarity on this nascent, yet quickly growing market, bringing together a community of credible independent generators, policymakers, banks, funds, off-takers and technology providers. For more information, go to the website.