Market Leads & Opportunities
Disused mine shafts to become green energy stores of the future
Former Scots mining communities could find a new lease of life – with old mine shafts turned into hi-tech green energy stores.This is the plan of Edinburgh start-up Gravitricity, which has just received a £650,000 grant from Innovate UK, the UK government’s innovation agency, for its plan to harness the power of gravity to store renewable energy.In a case of ‘what goes up, must come down’, their technology uses a massive weight suspended in mine shafts to capture green power, and then release it in seconds.If Gravitricity’s plan succeeds, the technology could breathe new life into former mining communities, and with it jobs and economic activity.The UK funds will enable them to start building a scale demonstrator later this year, and find a site to install a full-scale prototype by 2020.They are now on the look-out for investors, including those who can bring mining experience to the team, and suitable shafts to trial their technology.And once they have proven the technology in old mines, they then plan to sink new shafts to store energy wherever it is required.
More Market Leads
- Committee to decide on more than 100 homes in Somerset
26 Feb 25
Plans for more than 100 homes in Somerset will go before committee today (25 February). - Funding for Argyll and Bute housing projects
26 Feb 25
The UK Government has committed to delivering a package of support from the CRP to Argyll and Bute Council totalling £20.34 million. - Lead developer sought for city centre redevelopment
26 Feb 25
Hull City Council says it has taken a step forward on its redevelopment of the former BHS building in the city centre.
