Australian renewable energy startup Green Gravity plans to accelerate the commercialization of its gravitational energy storage technology – which aims to generate clean, dispatchable energy by lowering weights down old mine shafts – after signing an agreement with global professional services c Contact online >>
Australian renewable energy startup Green Gravity plans to accelerate the commercialization of its gravitational energy storage technology – which aims to generate clean, dispatchable energy by lowering weights down old mine shafts – after signing an agreement with global professional services company GHD.
Green Gravity and international engineering heavyweight GHD have signed a memorandum of understanding to develop new applications for the startup''s storage solution, which moves heavy weights vertically in legacy mine shafts to capture and release the gravitational potential energy, providing long-duration storage to the grid.
In a wide-ranging partnership, Australian-based Green Gravity and GHD will collaborate on technical engineering, policy, regulatory matters and electricity grid connectivity practices.
Green Gravity Chief Executive Mark Swinnerton said the partnership marked the next crucial stage in the commercialization of the company''s "home-grown" gravitational energy storage technology.
"Recent escalating power prices declared in the federal budget demonstrate how important it is for innovative Australian companies to commercialize new technology quickly," he said. "Solving the power pricing challenge requires collaboration across sectors, innovation, and determination. We are up for the challenge."
Green Gravity''s technology harnesses the fundamental principles of gravity and kinetic energy to store and dispatch energy by lifting and lowering ultra-heavy weights in legacy mine shafts. As the weights are lowered, the cable holding the weights passes through a device called a ''winder'', which then turns a motor.
The company aims to raise the weights when excess renewable energy is available and lower the weights to satisfy demand; either for industrial purposes or simply because prices in the electricity grid make it an attractive time to dispatch.
The concept is similar to other gravity energy storage technologies, but Swinnerton believes the use of old mine shafts, rather than purpose-built tall towers, will be his competitive advantage.
"Green Gravity''s energy storage technology represents a breakthrough in the search for economic long-duration storage of renewable energy," he said. "By re-using mining assets, costs can be kept low. By using gravity as the fuel, we dispense with consuming the critical water, land, and chemicals which other storage technologies rely on."
The signing of the agreement with GHD follows the announcement that Green Gravity will work with Australian coal producer Yancoal to explore the potential application of its energy storage technology at the Austar coal mine site in the Australian state of New South Wales.
Austar has been idle for more than two years and Swinnerton said decommissioned ventilation shafts that connect the underground mine to the surface look like a prospective place for Green Gravity to deploy its technology.
The deal with Yancoal will see the two companies work together on a feasibility study for the installation of Green Gravity''s equipment at the site, potentially paving the way for widespread application of the technology.
Swinnerton said the study was a great opportunity not just for Green Gravity to prove its technology''s value, but also for legacy mine sites to show their continuing worth. "Successfully identifying the best method of fitting gravitational technology at the former Austar mine site will create a template for beneficial reuse of legacy mining sites for Yancoal, and for thousands of other mines around the country."
Yancoal Australia Chief Executive David Moult said the study will also assess how gravitational energy storage assists in delivering beneficial post-mining land use.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Australian startup Green Gravity has secured AU$9 million (US$6.02 million) in Series A capital funding to complete product development of its gravity-based energy storage technology.
In a media statement released yesterday (15 October), the gravity energy storage developer said it received financing from investors, including HMC Capital, BlueScopeX, Pacific Channel and Sumisho Coal Australia Holdings (SCAPH).
Green Gravity confirmed it will use the funding to complete the remaining product development for its mineshaft-based gravitational energy storage technology. This development includes engineering and physical system testing at suitable scales to enable commercial deployment decisions.
Mark Swinnerton, founder and CEO of Green Gravity, said the funding will help "strengthen our team and enhance our capabilities as we propel towards widespread commercial availability".
"This unique blend of global technology knowledge, Australian manufacturing credentials, mining services expertise and large-scale listed infrastructure investment capacity will set us up for success as we move decisively to deploy this innovative clean energy solution," Swinnerton added.
Several of the investors have existing ties to the company and continue to invest in its potential. For instance, BlueScopeX, an investor in early-stage companies involved in the future of the steel-making process, has already collaborated to develop a demonstration plant for Green Gravity''s technology at BlueScope''s Port Kembla Steelworks facility in Illawarra, New South Wales.
The statement released by Green Gravity also added that the investment from Pacific Channel and SCAPH represents the global interest in the company, whilst HMC Capital will leverage its energy transition platform to provide "transparency to the future infrastructure opportunities associated with impending commercialisation".
About Australia gravity energy storage
As the photovoltaic (PV) industry continues to evolve, advancements in Australia gravity energy storage have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Australia gravity energy storage for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Australia gravity energy storage featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
