Tag Archives: Matthew Forrest

ABB and EcoHoist to work on low carbon, low cost vertical material transport solution

Mine shafts and equipment, Mining equipment, Sustainable mining, , , , , ,

ABB and EcoHoist have executed a Memorandum of Understanding (MoU) to collaborate on the development of a vertical material transport solution for underground mines.

The solution combines EcoHoist’s technology with ABB’s technical capability and experience in vertical ore haulage in mining, they say.

The EcoHoist aims to improve on traditional vertical hoisting systems, by substantially reducing the size of the required mine shafts. This reduction in mine shaft size leads to a reduction in capital cost and construction time compared with skip hoist systems, the company says. The EcoHoist operates on electricity and provides the opportunity for mines using conventional diesel powered load and haul fleets to simultaneously cut production costs and decarbonise.

“As mines go deeper underground, and as external pressures to decarbonise mining operations increase, the EcoHoist is a compelling solution,” EcoHoist says.

The collaboration will see experts from both companies contributing to solutions for the future of underground ore haulage systems and provides opportunities for further commercial arrangements. This collaboration aims to expedite EcoHoist’s delivery of a subscale demonstration of the technology, by leveraging ABB’s expertise in engineering and hoist safety systems.

ABB has a strong reputation for delivering solutions for the mining industry, with more than 600 active production and service mine hoists within its global installed base, and EcoHoist hopes this collaboration will accelerate the adoption and deployment of the EcoHoist pilot.

Björn Jonsson – Global Business Line Manager for Hoisting at ABB, said: “The mining industry globally is poised for a sustainability step change and ABB is excited to work with EcoHoist in support of new technologies in this journey.”

Aaron Trueman – Australian Business Line Manager for Hoisting at ABB, added: “No matter the mine in Australia, the challenge is how to get ore out of the ground safely and efficiently with high availability in very remote locations. Hoists are a critical mine asset to achieve this, and novel approaches to ore haulage such as EcoHoist are what the industry needs to deliver minerals essential to modern technology.”

Matthew Forrest – Managing Director of EcoHoist, said: “I look forward to continuing to work with Björn, Aaron and other talented people at ABB. ABB’s proven track record delivering electrical drive, automation and safety systems to the resources industry provides strong synergies with EcoHoist.”

Michael Short – Business Development Engineer at EcoHoist, says the EcoHoist offers an opportunity for mining leaders interested in integrating a low-cost solution into their operation.

“We are now in early conversations with interested mining companies for collaboration projects to trial this innovative technology, aiming to increase production rates while reducing both operating costs and carbon footprint.”

Economical Energy and its VIPER energy storage tech win Studio X recognition

Environmental, Mining services, Power supply for mines, Sustainable mining, , , , , , ,

Economical Energy announces that it has joined the third cohort of the Shell-powered Studio X Accelerator Program, a first-of-its-kind open global innovation company seeking to accelerate innovation in energy and climate tech.

ATP Fund, a venture capital partner of Studio X, has also invested in Economical Energy.

Economical Energy is developing the VIPER (Vertically Integrated Potential Energy Reservoir) energy storage technology, to help make renewable energy cheap, clean and continuous. The VIPER technology stores renewable wind and solar power when it’s available so that it can be used later during energy inadequacy to keep the lights on. It has potential applications in mining, representing an opportunity for companies to reduce their emissions and expand their portfolios.

Economical Energy expects its VIPER technology to become substantially cheaper than batteries, while having a significantly smaller environmental impact than batteries and pumped hydro.

It is considered a Long Duration Energy Storage (LDES) technology, as it is best suited for six to 12 hours of storage which is the optimal range for time shifting intermittent renewable energy. This differentiates it from the lithium-ion batteries installed on grids that typically only have two hours of energy storage.

It represents a reinvention of pumped hydro, using the same underlying physics, the force of gravity, but switching out the water used by pumped hydro with dirt, which is heavier and is not affected by drought or climate change. The VIPER also removes pumped hydro’s requirements for mountains and construction in ecologically diverse areas, by using deep holes in the ground like those provided by deep underground mines.

Max Gray, Director of the Studio X accelerator program, said: “The Studio X accelerator program is excited to have Economical Energy as part of the 2023 cohort. Their innovative solution to LDES will play a key role in meeting the future energy supply and demand equation, as well as adding stability to power grid infrastructure in times of energy instability. The next decades will need abundant LDES solutions and Economical Energy’s technology is poised to play a key role in that supply.”

Matthew Forrest, Managing Director of Economical Energy, said: “The level of technical due diligence from Studio X and ATP Fund was by far the most sophisticated we have encountered. Their understanding of the complexities of the underground environment were particularly relevant. I feel that their decision to invest is a strong vote of confidence in us and our VIPER technology.”