Complexul Energetic Valea Jiului (CEVJ) and Green Gravity have entered into a Framework Cooperation Agreement to explore the possibility of applying Green Gravity’s innovative energy storage technology in 17 mine shafts at its four mining operations in Jiu Valley in Romania.
The agreement outlines the scope and objectives of a joint study to evaluate the technical, economic, and environmental aspects of converting CEVJ’s existing coal mines into energy storage facilities using Green Gravity’s proprietary technology and expertise.
The study will also assess the potential benefits and challenges of integrating the energy storage system with the existing electricity grid and renewable energy sources.
The agreement represents a strategic partnership between CEVJ and Green Gravity, as both parties share a common vision of advancing the energy transition and reducing greenhouse gas emissions, while creating new opportunities for economic development and social well-being. The agreement also aligns with the EU’s Green Deal, which aims to make Europe the first climate-neutral continent by 2050.
Romania is undergoing a major energy transition, aiming to increase the share of renewable energy in its energy mix and reduce dependence on fossil fuels. Romania has set ambitious targets for renewable energy for 2030.
“I welcome this initiative, which demonstrates the potential for cooperation between Romania and Australia in the field of clean energy and climate action. I support CEVJ and Green Gravity’s efforts to explore the feasibility of storing gravity energy from old mine shafts, which could provide a viable solution for improving the flexibility and resilience of our energy system, securing a future for the Jiu Valley while gradually reducing our dependence on fossil fuels. Here we are quickly taking the first steps in reinventing the new company Complexul Energetic Valea Jiului, a chance for development and new jobs for the entire region,” said Sebastian-Ioan Burduja, Romanian Energy Minister.
“We are delighted to collaborate with CEVJ on this innovative project, which has the potential to transform Romania’s coal sector into a renewable energy storage hub, creating jobs, growth, and innovation. Our technology offers a unique solution to store excess renewable energy using gravity, which can help balance the power grid and support the EU’s climate goals,” said Mark Swinnerton, CEO of Green Gravity.
“Successfully implementing gravitational energy storage in the Jiu Valley will provide a leading example for successful transition of a coal mining region. This project has global implications for climate, jobs, and investment. Green Gravity’s energy storage technology represents a breakthrough in the search for economic long-duration storage of renewable energy. By re-using mining assets, costs can be kept low. By using gravity as the fuel, we dispense with consuming the critical water, land, and chemicals which other storage technologies rely on.”
“We are pleasantly impressed by the partnership with Green Gravity, a world-class clean energy company. This project is part of our strategy to diversify our energy portfolio and explore new opportunities to create value from our coal assets. We believe that gravitational energy storage is an innovative approach to the energy transition, and we are committed to contributing to Romania’s and Europe’s energy transition and to green regeneration,” said Eusebiu Durbaca, CEO of CEVJ.
Green Gravity’s energy storage technology
Green Gravity’s energy storage system moves heavy weights vertically in legacy mine shafts to capture and release the gravitational potential energy of the weights. By simply using proven mechanical parts and disused mine shafts, Green Gravity’s energy storage technology is low-cost, long life and environmentally compelling.
Storing energy in this way uses no processed chemicals and has no performance degradation. Moving weights vertically allows for high Round Trip Efficiency and using legacy mine shafts allows reuse of existing structures, contributing to the circular economy, and lowering costs.
Green Gravity’s energy storage technology improves the economics of wind and solar power, leading to a faster and lower cost transition away from fossil fuels. Truly the next generation of ultra-green energy.