Key Investment 2022
Already in 2022, Atlas Renewable has participated in and facilitated the capital investment into Pre=IPP PIPE of Energy Vault and to enable Energy Vault jointly working with Chinese partners, namely China Tianying (CNTY) and SkyTower Energy to construct its first 100 MWh storage facility in Rudong City, Jiangsu Province near Shanghai. China Tianying is a Fortune 500 Company in China in the waste to energy and renewable recycling business.
Energy Vault (NYSE: NRGV) is an American innovation company located in California that is revolutionizing the critical need for energy storage by returning to the basic physics of nature. Through the manipulation of heavy weights in a synchronized fashion to create and expend energy through generators tasked to the upward and downward travel of the blocks. Lifting and lowering created the motive force necessary to spin generators to produce electricity. The latent energy in the suspended blocks in effect stores the energy for later use. Energy vault stores the energy that would otherwise be wasted due to the nature of the use cycles of electric power.
Technology
The technology is the critical answer to the intermitancy of the renewable energy production cycle. Without available storage of electic power the electric grid is subject to instability. Batteries are widely seen as the answer to the storage dilemma but they have significant drawbacks as currently configured and are not without carbon production drawbacks. The “energy vault” stores when plentiful and releases when energy is scarce. Closing the loop on the circular economy.
Applications
Applications of the Energy Vault Technology will be varied and are critically needed to help industrial uses in many sectors to comply with requirements of 30/60 mandates. The storage application will allow higher grid efficiency and resilience and a greater abilty to manage power production and consumption nationally.
Global Impact
The ability to save energy through storage (particularly the gross 6% lost in long haul transmission will allow heavy carbon contaminating sources of electricity to be scaled back and more renewables sources brought online. China with its ability to manufacture components will now help secure China’s needs under 30/60 but to allow for electicity storage to slowly turn the tide of energy demand fully toward non carbon sources.
