Might 4, 2023: Scotland-based gravity storage system firm Gravitricity has raised almost £829,000 ($1 million) from a crowdfunding increase.
An organization spokesperson spoke Journal of Power Storage on Might 3 the startup exceeded its preliminary objective of £550,000, with 1,085 buyers collaborating in Crowdcube elevating.
The money enhance shall be invested in hiring and growing the corporate’s know-how, the spokesperson mentioned.
A bigger institutional spherical is ready to comply with wherein Gravitricity is looking for as much as £40 million.
Industrial director Robin Lane mentioned: “The funds come on the good time for Gravitricity as we advance our plans to develop vitality storage initiatives throughout three websites right here within the UK and in mainland Europe. “
The corporate has developed a gravity-harnessing technique of producing electrical energy by dropping weights underground in locations like deserted mines and can be engaged on under-surface inexperienced hydrogen storage.
