Gravitricity to target US funds for clean energy projects at mines

Gravitricity will partner with US infrastructure company IEA Infrastructure Construction to step into the US market and pursue federal funding for energy projects at former mines, the Edinburgh gravity energy storage specialist said last week.

The companies have agreed to jointly seek funds for renewable energy projects, including at disused mines.

The partnership comes as the US Department of Energy rеcently announced it is providing USD 450 million (EUR 410m) for clean energy demonstration projects on mine land, with applications due by the end of August.

“This mine-specific US initiative, on top of the already generous IRA [Inflation Reduction Act] provisions, make the States a particularly attractive destination for first-of-a-kind projects,” said Gravitricity commercial director Robin Lane.

Gravitricity has demonstrated a scale version of its technology in Edinburgh and is advancing a 4-MW/2-MWh project at a decommissioned mine in the Czech Republic.

The company’s technology stores energy by winching up and down weights in a deep underground shaft. The weights are raised when there is excess electricity and can then be released quickly or more slowly depending on what energy they need to produce.

(USD 1 = EUR 0.911)

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