Gravitricity is an IP rich UK SME in the cleantech sector with 4 patents and 3 further patent applications relating to its innovative energy storage technology. This project supports the initial phase of its expansion to Chile, where it is believed conditions are suitable for high and fast growing customer demand and low cost implementation.

The project is a 3 month feasibility study led by Gravitricity as sole partner with a single subcontractor (Fower Group). A research and innovation relationship will be established with the Fower Group, specialist in bringing new technology to the mining sector in Chile, Peru and Ecuador.

Gravitricity's technology stores energy by raising and lowering weights in a vertical underground shaft. Novel electrically driven winch-drive modules are being developed. Each unit can be configured to produce between 1 and 20MW peak power, with output duration from 15 minutes to eight hours.

Mining represents over 40% of Chilean GDP and this project will identify the availability and abundance of disused mine shafts. The identification of an abundance of mine shafts would give a significant cost advantage to future Gravitricity technical implementations in the region. The project will engage with Chilean government departments and agencies, Mining and Renewable Energy Associations as well as interviewing end-users at mines known to have involvement with the creation and maintenance of shafts. This will speed up commercialisation in a market which expects to more than double its renewable energy output by 2030\.

The objective of the study is to fast-track Gravitricity's commercialisation in the region. Internationalisation is a key plank of the company's overall growth strategy, and Chile has been identified as having good conditions for the company's first foray into the Americas. Mines are large energy users and many mining companies are transitioning to renewable power with some Chilean mines going as far as 100% renewables. Energy storage is a key enabler of this transition and gravitricity is uniquely placed to rehabilitate and reuse the disused assets of the mining sector (ie. mine shafts) to put them back into productive service.