China leaps towards sustainable future with Gravity Energy Storage
In a landmark move, Energy Vault Holdings, Inc. has revealed that China Tianying Inc. will be deploying five new EVx™ gravity energy storage systems under the terms of a licensing and royalty agreement with Atlas Renewable.
This strategic partnership is set to revolutionize the energy storage sector with the Rudong EVx system, poised to be the world’s inaugural commercial grid-scale gravity energy storage system.
Boasting a technical life exceeding 35 years, the 25 MW, 100 MWh Rudong system is a promising alternative to the prevalent pumped hydro plants that dominate 90% of the global energy storage capacity.
Chairman Yan Shengjun of China Tianying underscored the demand for Energy Vault’s innovative technology in China, noting its longevity and substantial local economic contribution. “As we commission the first 100MWh system in Rudong, optimized for China’s market requirements, we are expediting the expansion of this revolutionary technology. This will enable a seamless transition from fossil fuels to clean energy, aligning with China’s aspirations for a net carbon neutral future,” Mr. Yan remarked.
Energy Vault’s technology, akin to pumped hydro in terms of longevity, offers a lower Levelized Cost of Storage over time. It brings enhanced scalability, efficiency, and safety advantages compared to existing storage solutions.
The construction of the storage medium utilises 25-ton blocks made from local soil, thereby eschewing carbon-intensive concrete. These blocks can also incorporate various waste materials, embodying circular economic principles that China Tianying and Energy Vault are harnessing for local development.
The recent commissioning of the Rudong EVx system marks a significant milestone. Following a capping ceremony in September 2023, the structure is now grid-connected, heralding it as the first commercial utility-scale non-pumped hydro gravity energy storage system in the world. Additionally, CNTY is advancing the deployment of a 2 GWh EVx system in Tong Liao, Inner Mongolia, aimed at powering zero carbon industrial parks.
Robert Piconi, Chairman and CEO of Energy Vault, praised the partnership’s early successes. “With the Rudong system set to go live and five new deployments announced, totalling 3.26 GWh, our collaborative efforts with China Tianying are bearing fruit, even amidst the challenges posed by COVID-19. This venture is a testament to the commitment to sustainable development and a carbon-neutral future,” Mr. Piconi stated.
China’s energy policies, mandating that renewable energy plants integrate storage solutions, have traditionally been met with lithium-ion batteries. However, Energy Vault’s gravity storage technology is emerging as a strong contender, promising to bolster China’s renewable energy capacity and meet the surging energy demands.
