Gravitricity is aiming to make its US debut, after linking with an American construction group.
The Edinburgh-based energy storage firm has signed an agreement with IEA Infrastructure Construction to seek funds jointly for renewable energy schemes, including those at disused mines.
Earlier this month, the Biden administration made $450m available for clean energy projects at the site of current or former coal mines.
Gravitricity has already stated developing below-ground, gravity-based storage systems in the UK and mainland Europe.
The company is advancing proposals for a mine project in the Czech Republic, where it plans to store energy by lowering and raising a single massive weight suspended in the former Darkov mine.
This follows the demonstration of a scale version of the technology in Edinburgh - built in partnership with Dutch winch specialists Huisman - with plans to build full-scale schemes in the UK and worldwide. Future systems could have a capacity of 25MWh or more.
Up to five clean energy projects will be funded at current and former US mines, through the $1trn 2021 infrastructure law, with demonstration projects expected to “provide knowledge and experience that catalyse the next generation of clean energy on mine land projects,” according to the Energy Department.
The White House also said it will allow developers of clean energy projects to take advantage of billions of dollars in new bonuses being offered in addition to investment and production tax credits available through the 2022 Inflation Reduction Act.
“The timing could not be better,” said Gravitricity commercial director Robin Lane. “Governments worldwide recognise the need for energy storage and also the requirement to find new futures for mining communities seeking alternatives.
“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.
“IEA Infrastructure Construction has proven expertise in heavy civil, energy and infrastructure schemes and are the ideal partner for us to seek opportunities in this fast-evolving market.” Lane added.
Applications are due by the end of August, with grant decisions expected by early next year.
Worldwide, Gravitricity estimates there are around 14,000 mines which could be suitable for gravity energy storage.
It uses heavy weights suspended in a deep shaft by cables attached to winches.
When there is excess electricity, for example on a windy day, the weight is winched to the top of the shaft ready to generate power.
This weight can then be released when required - in less than a second - and the winches become generators, producing either a large burst of electricity quickly, or releasing it more slowly depending on what is needed.
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