Gravitricity is an innovative mechanical energy storage technology developer.
We store electricity by lowering very heavy weights down deep vertical shafts. The 'clock weight' concept is Victorian, but using it for grid-connected electricity storage is novel, taking technologies from established industries (on- and off-shore heavy lift, power electronics, shaft sinking) and integrating them in innovative ways.
We have three patents pending, regarding basic concept plus various subsystem innovations.
Gravitricity's technology has very fast response ( < 1s to full power or charge); long lifetime (50+ years); no cyclical degradation, and can be designed to prioritise energy (up to 5MWh) or power (up to 20MW) .
The technology is particularly suited to long-life storage applications, and those where multiple revenues can be stacked. Initial projects will be in existing mineshafts in the UK, Europe, and South Africa. Later projects will use purpose sunk-shafts exactly where energy storage is required to avoid upgrades of distribution grids.
Gravitricity's CAPEX is competitive with Lithium batteries on a per-MW basis, and it's cost per MWh cycle is much lower than batteries for high-cycle or lifetime applications.
Full scale prototype deployment is planned for 2019, with subsystem testing in 2018. Gravitricity is looking to raise £500,000 seed finance in late 2017.
UK insurers will be called upon next month by the Prudential Market Authority to stress test their business against a range of climate and transition risks
As ClientEarth warns too many councils have missed deadlines to submit air quality plans, government confirms fresh support from its Clean Bus Technology Fund
Environment Agency chair Emma Howard Boyd's speech at the European Bank for Reconstruction and Development - in full
Britain has its first new deep coal mine in decades - a result of pretending climate change isn't political
Rebecca Willis argues the controversial decision to approve a new coal mine in the UK is symptomatic of a wider political failure