Gravity Power Inc. is a pre-revenue Delaware corporation that offers a technology for long-duration, grid-connected electrical energy storage. It has developed a highly efficient energy storage technology that reduces carbon emissions while being easily scalable for global markets.
The company utilizes a revolutionary energy storage technology that lowers levelized costs and minimizes environmental impacts. The gravity power plant raises and lowers a piston hydraulically in an underground shaft. The company aims to meet the demand for energy storage with technology that lowers cost, raises efficiency, and minimizes environmental impact. It comprises a deep underground shaft, with a steel-walled piston in the shaft, connected to a hydroelectric powerhouse through a vertical penstock, and filled with water, for a closed system. To store energy, the motor/pump drives water down the penstock, raising the piston hydraulically in the shaft. To return energy to the grid, the piston is allowed to descend, driving water up the penstock and through the turbine/generator. The system provides electrical commodities to the grid similarly to a pumped storage system but without the numerous environmental and technical difficulties of pumped storage. The Company believes that it is a favorable investment because of unbeatable customer value, broad patent protection (4 patents in 20 countries), an active investment climate for energy storage, and an attractive share price. The demand for energy storage is projected to be over $1T, driven primarily by the rapidly worsening climate crisis. The recently passed Bipartisan Infrastructure Law contains $505M in funding to support the development and deployment of energy storage technologies. Bloomberg New Energy Finance projects a $620B market for long-duration energy storage. According to Allied Market Research, the global market for energy storage was $188.5B in 2020 and is projected to grow to $435.4B in 2030.
The company has built key relationships with many industry leaders including Stantec, the Ribbins Company, and Computerized Analysis & Simulation Ltd to move towards commercialization. Gravity Power’s revolutionary technology has been verified by numerous third-party experts, including Stantec, BabEng, and Hochtief. Most recently, the company has agreed to conduct a joint R&D program with the Robbins Company, the pioneer of the tunnel boring machine. The Company’s business model is projected to consist of licensing the technology and offering technical support focused on electric load-serving entities, independent power producers, transmission companies, and similar entities. It intends to offer its technology across the globe through direct-to-business channels and through intermediaries, such as engineering companies.
