February 8, 2024: Scotland-based gravity storage system start-up Gravitricity said on February 6 it plans to deploy its technology in a prototype project at a disused mine shaft in Finland.
The company has signed an agreement with Callio Pyhajarvi to turn the 530-metre deep shaft at the Pyhäsalmi Mine (pictured) into a 2MW demonstration project that will connect to the grid and provide balancing services.
Gravitricity says its GraviStore system is a gravity-harnessing method of generating electricity by dropping weights in underground areas such as abandoned mines. The company is also working on below-surface green hydrogen storage.
Executive chairman Martin Wright said: “This project will demonstrate at full scale how our technology can offer reliable long-life energy storage that can capture and store energy during periods of low demand and release it rapidly when required.”
The project announcement comes after Gravitricity secured nearly £829,000 ($1 million) from a crowdfunding raise last May.
A company spokesperson told Energy Storage Journal then that it had exceeded its initial goal of £550,000, with 1,085 investors participating.