Top 5 gravity energy storage companies in the world
At present, the overall gravity energy storage industry is in a relatively early stage, and there are not many gravity energy storage companies in the world. The gravity energy storage companies mainly include Swiss Energy Vault, UK Gravitricity, US Gravity Power and ARES.
And most of the company’s projects are in the conception or proposal stage, only Gravity Power’s piston water pump project and Energy Vault energy storage tower project (35MWh in India, CDU project in Switzerland) are in the stage of commercial operation.
Gravitricity’s drilling energy storage project and ARES’ rail locomotive energy storage project are still under construction. Below is the introduction of the top 5 gravity energy storage companies (in no particular order).
Top 5 gravity energy storage companies
Energy Vault
Company profile:
Energy Vault, an energy storage startup based in Switzerland’s Lugano region, is a new energy storage technology company founded in 2017. Energy Vault targets renewable energy developers, utilities/government, large commercial and industrial companies, and C&I customers.The low upfront capital investment, coupled with minimal maintenance and operating expenses, makes Energy Vault’s gravity storage ideal.
The Energy Vault LDES solution is based on proprietary gravitational energy technology and is ideal for use cases that require 4 or more hours of storage capacity. The Energy Vault Gravity Energy Storage System (GESS) solution utilizes the mechanical process of raising and lowering composite blocks.
Energy Vault, one of the top 5 gravity energy storage companies, has been working on battery energy storage deployments recently. Prior to this, agreements with Wellhead Electric and W Power have been announced. For energy storage battery industry information, please refer to energy storage solutions and top 10 energy storage battery companies.
Total market value: 496.10 million USD
Company website: https://www.energyvault.com/
Gravity Power
Company profile:
One of the top 5 gravity energy storage companies Gravity Power, LLC is a company based in Goleta, California. Founded in 2009. The Gravity Power Plant is effectively a Water Battery. They dig a deep shaft, using standard technology from the mining industry. They build a piston of reinforced rock in the shaft. They add water and cap it, creating a closed loop system, with no additional water required. Gravity Power is by far the most cost-effective solution for long duration energy storage.
Company website: https://www.gravitypower.net/
ARES
Company profile:
Founded in 2010, one of gravity energy storage companies Advanced Rail Energy Storage (ARES) has developed, tested and patented rail-based, gravity-powered energy storage technologies that are more environmentally responsible, durable, and cost-effective than other utility-scale storage alternatives.
ARES technologies use no fossil fuel or water, produce zero emissions or hazardous waste, and have a 40+ year service life with no degradation or thermal runaway. In 2014, ARES, an American energy company, proposed a rail locomotive energy storage solution. ARES built a 6-mile-long uphill track with heavy-duty locomotives, which are solid machined concrete, each weighing 300 tons.
When discharging, the residual electricity will be used to drive the high-efficiency motor to push the locomotive to the “station” on the top of the slope, and the electrical energy will be stored as gravitational potential energy; When generating electricity, the locomotive is released to go downhill, and the gravitational potential energy is converted into electrical energy to start generating electricity.
Total market value: 20.02 billion USD
Company website: https://aresnorthamerica.com/
Gravitricity
Company profile:
Founded in 2011 by inventor Peter Fraenkel, Gravitricity has built a 15-meter, 250-kilowatt prototype of a gravity battery in Scotland, with commissioning and grid connection starting in 2021. During 2021, Gravitricity successfully built, commissioned and operated a 250kW grid-connected demonstration project using a 15m high drilling rig in Leith Harbour, Edinburgh.
In April 2021, Gravitricity completed the 250KW demonstration project in Leith, Edinburgh, In February 2022, Gravitricity received £1.5 million from the UK government to develop and construct a 4MWh commercial gravity energy storage system at a grid connection site in northern England.
Company website: https://gravitricity.com/
CNTY
Company profile:
CNTY is one of the top 5 gravity energy storage companies. Its business includes industrial research and technology development, urban environmental service operation, waste disposal and utilization, environmental protection equipment manufacturing, and the development and application of cloud platform for smart environmental management. CNTY has been authorized by EV company gravity energy storage technology in 2022.
CNTY, Energy Vault, and Atlas Renewable announced the signing of a technology license agreement, a PIPE capital increase agreement, and the construction of a 100MWh energy storage project to help China’s carbon reduction process, with a total transaction value of US$100 million. The first gravity energy storage partnership agreement between a U.S. and Chinese company to support China’s 2030 carbon peak and 2060 carbon neutrality goals.
Total market value: 12.341 billion RMB
Company website: https://www.ctyi.com.cn/
