Co-funded by the
European Union
Mine Storage
Mine Storage uses two elements to store electrical energy – water and gravity offered by underground mines with high heads. The company provides a closed-loop solution using proven pumped hydro-power technology in an underground setting.
Early stage
Enabling the sustainable energy transition
The need
The requirement to tackle the climate crisis and the volatile energy market has become urgent. In the move towards weather-dependent renewable production, there is increasingly dependency on energy storage to secure and balance the electricity supply.
The solution
Mine storage technology is a proven, scalable way to safely store and distribute energy and help balance transmission grids. Mine Storage develops grid-scale energy storage in underground mines using closed-loop pumped storage hydropower. By leveraging the height differences in mines, large quantities of energy are stored using water and gravity. The operational model for each mine storage facility is developed to optimise revenue streams from local markets.
The value proposition
- Grid-scale energy storage that can be scaled globally.
- Proven technology applied in an innovative setting.
- Clean solution using water and gravity that does not rely on rare-earth minerals.
- High round-trip efficiency of 70-85 percent.
- Long lifecycle resulting in a low levelized cost of storage.
- Leveraging existing infrastructure by making closed mines a circular energy asset.
- Potential to scale globally as there are more than 1 million closed mines.
