SCOTTISH energy storage specialists Gravitricity is set to make its debut in America after linking with a major US construction group.
The Edinburgh firm has signed an agreement with IEA Infrastructure Construction to seek funds for joint renewable energy schemes, following US president Joe Biden’s announcement of $450 million being made available for clean energy projects at the site of current or former coal mines.
Gravitricity specialises in developing below ground gravity energy storage systems in the UK and mainland Europe. Proposals are in place for a mine project in the Czech Republic, where the firm plans to store energy by lowering and raising a single massive weight suspended in the former Darkov mine.
The energy specialist has already demonstrated a scale version of their technology in Edinburgh – built in partnership with Dutch firm Huisman – and now plans to build full-scale schemes in the UK and worldwide. Future systems could have a capacity of 25MWh or more, it said.
Up to five clean energy projects will be funded at current and former US mines, with demonstration projects expected to “… provide knowledge and experience that catalyse the next generation of clean energy on mine land projects,” the US’ energy department said.
The White House also said it will allow developers of clean energy projects to take advantage of billions of dollars in new bonuses being offered in addition to investment and production tax credits available through the 2022 Inflation Reduction Act (IRA). The bonuses will ‘incentivise more clean energy investment in energy communities, particularly coal communities,’ that have been hurt by a decade-plus decline in US coal production, the White House added.
Robin Lane, Gravitricity commercial director, said, “The timing could not be better. Governments worldwide recognise the need for energy storage and also the requirement to find new futures for mining communities seeking alternatives.
“This mine-specific US initiative, on top of the already generous IRA provisions, make the States a particularly attractive destination for first-of-a-kind projects. IEA Infrastructure Construction has proven expertise in heavy civil, energy and infrastructure schemes and are the ideal partner for us to seek opportunities in this fast-evolving market.”
