Gravitricity

Gravitricity develops innovative underground energy storage technologies that address the growing need for grid-scale energy storage driven by intermittent renewable energy sources. The company has developed two core technologies: GraviStore, an underground gravity energy storage system that uses the force of gravity to store and release energy, combining the fast response time of lithium batteries with the long lifespan of pumped hydro storage; and H2FlexiStore, an underground hydrogen storage technology that uses geological formations to contain pressurized fuel gas, enabling safe large-scale storage close to points of demand. GraviStore offers 50-plus year operational life, flexible capacity, versatile operation, and lower lifetime costs compared to alternatives, with location flexibility for deployment in various geological settings including abandoned coal mines. The company has identified over 50 sites worldwide for potential deployment and has partnered with Huisman for engineering and manufacturing expertise. Founded in 2011 and headquartered in Edinburgh, United Kingdom, Gravitricity has raised approximately $6.8 million in seed funding from investors including Scottish Enterprise, Zero Carbon Capital, and Crowdcube. The company targets the global energy storage market, which BloombergNEF estimated in 2021 will attract over $262 billion in investment through 2030.