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.
Gravity-based energy storage technology company Energy Vault has formed a strategic partnership with non-ferrous metals smelting and refinery company Korea Zinc, including a US$50 million investment commitment.
Gravity and kinetic energy storage startup Energy Vault and ‘thermal pumped hydro’ startup Malta Inc have both said this week that their technologies could be set for gigawatt-hour scale deployments.
Special purpose acquisition company (SPAC) Novus Capital Corporation II chose to merge with novel gravity and kinetic energy-based storage Energy Vault after receiving target proposals from more than 100 different firms.
Two startups seeking to disrupt the energy sector with novel long-duration energy storage technologies have formed partnerships with established industry players.
India is looking at gravity-based energy storage to take advantage of the technology’s short response times and flexibility when it comes to grid integration of clean energy sources.
Energy Vault, a Swiss maker of energy storage systems based around gravity, has made its technology commercially available, with India’s Tata Power expected to be the first customer.
