Gravitricity is an energy technology company based in Edinburgh, London. Its patented technology is based on a simple principle: raising and lowering a heavy weight to store and release energy. The Gravitricity system suspends weights of 500 - 5000 tonnes in a deep shaft by several cables, each of which is engaged with a winch capable of lifting its share of the weight. Electrical power is then absorbed or generated by raising or lowering the weight. The technology has a 25+ year life with no cyclical degradation, has no parasitic loads, is cost-effective and can be installed anywhere including city-centres. The company has recently submitted its fifth patent application and has won a grant under InnovateUK's Energy Catalyst programme. It is working with winch partner Huisman Equipment BV and controls-partner ISC to build a 250kW Concept Demonstrator and design modular full-scale systems. With the funds received, Gravitricity will buffer for any COVID-related delay in energy requirements amidst the global economic downturn.
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Gravitricity Rating Review
Pitch rating powered by CROWDRATING™
Rated on 22/05/2020
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£4,053,090
pre-money valuation
2.41%
equity available
1,421
investors
£545
pledge per investor
07827384
company number
Active
company status
28/10/2011
incorporated 13 years
£0.30
share price
Previous Funding rounds
20 Apr 23 | Crowdcube | £1,185,207 / 158% | |
19 Apr 23 | Crowdcube | £759,700 / 309% | 62.33% |
18 Apr 23 | Crowdcube | £2,124,008 / 283% | 58.33% |
18 Apr 23 | Crowdcube | £775,000 / 775% | 51.33% |
News
Gravitricity begins feasibility study on Slovenian coal mine - The Engineer
25/03/2024 The Engineer
ABB and Gravitricity to collaborate on energy storage systems using end-of-life mine shafts and hoist technology - ABB
11/12/2023 ABB
Gravitricity to demonstrate energy storage tech in deep mine - HeraldScotland
05/02/2024 HeraldScotland
Ofgem funding to back feasibility study of Gravitricity's H2 storage - Renewables Now
11/03/2024 Renewables Now
ABB and Gravitricity mine potential of hoist-delivered batteries | theenergyst.com battery, gravity, hoist, shaft, mine, hoist ... - The Energyst
11/12/2023 The Energyst
ABB and Gravitricity partner on gravity energy storage systems - Smart Energy International
12/12/2023 Smart Energy International
ABB and Gravitricity to develop energy storage using former mine shafts - BusinessGreen
11/12/2023 BusinessGreen
ABB and Gravitricity to explore hoist expertise for gravity energy storage - bestmag
14/12/2023 bestmag
Gravitricity weighs up one of Europe’s deepest mines - The Engineer
05/02/2024 The Engineer
Gravitricity plans 2-MW gravity energy store at Finnish mine - Renewables Now
05/02/2024 Renewables Now
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