Green Gravity, the innovative energy startup, has announced plans to establish a cutting-edge research and development facility, which will be accompanied by the implementation of a digital twin. A digital twin serves as a virtual representation of a physical system, allowing for the testing of new components and hypotheses before their implementation in the real world.
Under the leadership of former BHP executive Mark Swinnerton, Green Gravity believes that incorporating digital assets into their facility, known as Gravity Lab, will expedite the process of validating their commercial-scale energy storage systems. To bring Gravity Lab to life, the company has joined forces with Bluescope and AI specialist xAmplify, while also securing support from NVIDIA.
The technology developed by Green Gravity revolves around the concept of lifting and releasing heavy weights within existing mine shafts. Although similar to other gravity energy storage solutions, Swinnerton emphasizes that their utilization of abandoned mine shafts instead of purpose-built towers provides a competitive edge. This approach offers cost reductions and proves to be more environmentally friendly by repurposing abundant, yet neglected, infrastructure.
Swinnterton elaborates, stating, “By repurposing mining assets, we can maintain low costs. By harnessing gravity as our fuel, we eliminate the need for consuming critical resources such as water, land, and chemicals that other storage technologies rely on.”
The company asserts that Green Gravity will be capable of achieving comparable unit costs to pumped hydro, but with significantly lower capital expenditure. Swinnerton explains, “Rather than investing AUD 700 million ($468 million) as required for large-scale pumped hydro projects, we can achieve similar unit costs with an investment of just AUD 30 million. While this may result in less energy output, it presents a cost-effective alternative to traditional pumped hydro solutions, and the abundance of suitable sites is substantial.”
In November 2022, Green Gravity entered into a memorandum of understanding with GHD Group to explore new applications for their storage solutions. The startup also successfully completed domestic capital raises last year but aims to secure even greater global investment in the near future.
Highlighting the vast potential of their storage capacity, Green Gravity claims to have identified at least 3 gigawatt-hours (GWh) of potential storage capacity across 175 assessed and suitable sites. Swinnterton confidently states, “And that's just in Australia – there is undoubtedly even more capacity available elsewhere.”
Green Gravity's commitment to innovative energy storage solutions showcases the promising advancements being made in the renewable energy sector. With their focus on repurposing existing infrastructure and harnessing the power of gravity, the startup is poised to make a significant impact in the global energy landscape.
