Energy Vault to deploy 2 GWh of gravity storage in China – pv magazine International

Energy Vault’s EVx storage system is comparable to pumped hydro, using grid-scale renewable energy when supply is plentiful to drive motors and lift 30-ton blocks onto a crane tower at six arms, rather than water, up to a certain height. When the electricity needs to be sent back to the grid, the blocks are lowered, recovering the kinetic energy.

Swiss gravity storage system provider Energy Vault has announced that it will build five storage projects with a combined storage capacity of 2 GWh in China.

The company said the projects will build on its EVx gravity-based energy storage technology and it will partner with US company Atlas Renewable Energy, Chinese NGO EIPC, telecom company based in China China Tianying and unspecified selected provincial and local governments for their construction.

“In February 2022, Energy Vault and Atlas Renewable signed a license and royalty agreement for the deployment of Energy Vault’s gravity energy storage technology in China, which follows a $50 million capital investment. dollars in the company as part of the IPO earlier this year on the New York Stock Exchange (NYSE),” the company said in a statement. “The companies immediately began construction of a first 25 megawatt (MW) and 100 MWh system outside Shanghai in Rudong province, which started in March 2022 earlier this year.”

In April, Energy Vault signed an agreement with Indian utility NTPC Ltd to forge a long-term strategic partnership. NTPC will deploy Energy Vault’s EVx gravity energy storage technology and software solutions based on results of joint feasibility study.

In January, Korea Zinc agreed to invest $50 million in Energy Vault so it could use its energy storage technology at its Australian refinery. The South Korean foundry giant is the latest major company to back Energy Vault ahead of its listing on the New York Stock Exchange.

The new investment increased the previously announced private investment in public equity financing from $100 million to $150 million, in conjunction with Energy Vault’s agreement to become a publicly traded company through a merger with Novus Capital Corporation II. Its previous funding round included investments from Saudi Aramco Energy Ventures, BHP Ventures, Volta Energy Technologies and Softbank Vision Fund, among others.

Energy Vault’s EVx storage system is comparable to pumped hydro, using grid-scale renewable energy when supply is plentiful to drive motors and lift 30-ton blocks onto a crane tower at six arms, rather than water, up to a certain height. When the electricity needs to be sent back to the grid, the blocks are lowered, recovering the kinetic energy.

According to the company, there is no degradation in the storage capacity of the composite blocks, which can remain in the raised position for unlimited periods of time. Its composite blocks are developed in cooperation with Mexico’s Cemex, using local soil at the sites where it builds its storage systems, as well as other materials such as recycled coal ash, waste residue from mining operations and decommissioned wind turbine blades.

Energy Vault’s EVx Tower features 80% to 85% round-trip efficiency and over 35 years of technical life. It has a modular design that scales up to several gigawatt hours of storage capacity.

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