Edinburgh-based energy storage company, Gravitricity, has partnered with IEA Infrastructure Construction to seek funds jointly for renewable energy projects, including those at disused mines in the US.
The Biden administration has made $450 million available for clean energy projects at current or former coal mine sites.
Gravitricity has already developed below-ground, gravity-based storage systems in the UK and Europe, with plans for a mine project in the Czech Republic. The company aims to take advantage of the US initiative, along with existing IRA provisions, to explore opportunities in the evolving energy storage market.
“This mine-specific US initiative, on top of the already generous IRA provisions, make the states a particularly attractive destination for first-of-a-kind projects,” said Gravitricity commercial director Robin Lane.
According to Gravitricity’s estimation, there are roughly 14,000 mines globally that have the potential to be appropriate for gravity-based energy storage.
Source: insider.co.uk
Image Source: Gravitricity