Green Gravity and GHD have executed a Memorandum of Understanding (MoU) to collaborate on the commercialisation of gravitational energy storage systems.
The MoU aims to pursue the development of new applications for the Green Gravity technology, accelerating the commercialisation of the gravitational energy storage systems technology solution using the expertise and connections of GHD, the companies say.
In a wide-ranging partnership, Green Gravity and GHD will collaborate on technical engineering, policy and regulatory matters and electricity grid connectivity practices and will work together to deliver world-class governance and processes in engineering design, they added.
The companies said: “By working in partnership, Green Gravity and GHD aim to provide a tangible example of how connectivity between the engineering services sector and the clean technology development sector can accelerate decarbonisation in the electricity system.”
Green Gravity’s energy storage system moves heavy weights vertically in legacy mine shafts to capture and release the gravitational potential energy of the weights. By using proven mechanical parts and disused mine shafts, Green Gravity’s energy storage technology is low-cost, long life and environmentally compelling, the company claims. The technology improves the economics of wind and solar power, leading to a faster and lower cost transition away from fossil fuels, it added.
Last month, the company signed a separate MoU with Yancoal to study the potential of the energy storage technology at the mining company’s former Austar coal mine in New South Wales.
According to Mark Swinnerton, Founder and CEO of Green Gravity, the partnership demonstrates the potential impact of integration and connectivity between providers of new energy solutions to support Australia’s clean energy transition.
“Green Gravity is excited to partner with one of the world’s leading engineering companies in the next stage of our technology commercialisation,” he said. “Our organisations have strongly aligned interests and, by coming together, we can make an important contribution to the rapidly escalating clean energy transition challenge.
“Green Gravity’s energy storage technology represents a breakthrough in the search for economic long-duration storage of renewable energy. 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.”
Daniel Todd, GHD’s Market Leader – Energy and Resources, added: “GHD is excited to collaborate with Green Gravity in the development of long-duration energy storage solutions, supporting Australia’s transition to a decarbonised energy system. GHD brings experience across all aspects of Green Gravity’s project development program and is aligned with Green Gravity’s focus on repurposing mining assets as part of the solution.”