774%

To effectively use intermittent renewable energies, the world will need vast amounts of energy storage. Gravitricity's unique technology uses heavy weights to store energy underground. The company has 5 patents submitted, over £900K in grants to date and begun building its 250kW Concept Demo. The raise will provide runway through this global downturn.

  • Sub-second response to grid demands and cost-effective, levelised cost below $180/MWh
  • Environmentally sound: very long design life with high efficiency
  • $620 billion market to 2040 (Bloomberg New Energy Finance)
  • UK team with 70+ years experience in energy innovation

Idea

The above-ground concept demonstrator will be constructed in Leith, Edinburgh, and is due to be commissioned in late 2020.
The above-ground concept demonstrator will be constructed in Leith, Edinburgh, and is due to be commissioned in late 2020.
Mock up of a future multi-weight Gravitricity system that could be built into the foundations of new urban buildings. (Press coverage October 2019)
Mock up of a future multi-weight Gravitricity system that could be built into the foundations of new urban buildings. (Press coverage October 2019)
Gravitricity aims to be cost-effective. Please contact us to request a copy of this Levelised Cost of Storage analysis by Imperial College London academic Dr Oliver Schmidt in July 2019.
Gravitricity aims to be cost-effective. Please contact us to request a copy of this Levelised Cost of Storage analysis by Imperial College London academic Dr Oliver Schmidt in July 2019.
Gravitricity's proposed unique selling points
Gravitricity's proposed unique selling points

Gravitricity's tech was invented by Peter Fraenkel MBE and Martin Wright. It is based on the physical principle that any object at height stores energy (E=mgh). We'll seek to use surplus electricity from the grid to raise weights up to 12,000 tonnes in underground shafts; this electricity is then re-released when consumers need it. Disused mineshafts will be used at first. Later, purpose-sunk shafts will allow projects to be sited just where they are needed.

Our tech aims to:

- React very fast to grid demands, accessing high-value markets

- Have a 25+ year life with no cyclical degradation

- Have 80-90% round trip efficiency: as good or better than all alternatives

- Be located almost anywhere, including city-centres

- Have no parasitic loads, no standing losses, no depth-of-discharge limits, and no explosive materials

- Be extremely cost-effective

Gravitricity will make money by selling equipment, expertise and maintenance contracts to customers worldwide, including renewable energy generators and users, mine owners, and power companies.

We are working with winch partner Huisman Equipment BV and controls-partner ISC to build a 250kW Concept Demonstrator and design modular full-scale systems.

Funds from this raise will give us a buffer for any Covid-related delay and global economic downturn. It will also improve our ability to raise bigger Series A finance next year.

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Gravitricity has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

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