Mine Storage has entered into an agreement with British mining company Anglesey Mining Plc together with its 49.75% owned subsidiary Grängesberg Iron AB to investigate conceptual plans and designs for a pumped hydro-energy storage project at the Grängesberg Mine.
Grid supporting energy storage is imperative for the continuous electrification of transport and industry and to allow the expansion of electricity production to support the growing electricity demand from society. Mine Storage develops pumped hydro storage facilities in underground mines that store energy and supports the electricity grid.
A mine storage is a large-scale energy storage facility with a very low environmental impact. It makes an already existing mine into a circular asset by utilizing the mine as a water reservoir and relying on the most reliable force available, namely gravity, to create a closed-loop pumped hydro energy storage. When there is an overproduction of electricity from for example solar or wind, energy can be stored in the mine storage by pumping water from the mine to an upper water reservoir at ground level. Later, when the demand for electricity is higher, water is released back into the mine via turbines and electricity is sent back into the grid.
“We are very pleased to have signed this agreement with Mine Storage over our Grängesberg project. The Mine Storage team has identified the Grängesberg Mine as one of the most suitable locations to design, install and operate what could potentially be a significant pumped hydro-storage project” says Jo Battershill, Chief Executive of Anglesey Mining.
The Grängesberg mine could become the first mine storage in the world to become operational as a 15 MW pilot. To put this into context, 15 MW can support the energy need of 35 000 households*.
Mine Storage has developed the Grängesberg mine storage project over the last year and is now planning a public consultation process that includes the municipality, county administrative board, local community, local fishery conservation associations, and other stakeholders.
“The collaboration with Anglesey is a great confirmation of the value Mine Storage can offer not only in the global energy transition, but also for a sustainable mining industry. Anglesey Mining and Grängesberg Iron show a great leadership and we are both pleased and honored to have entered into this agreement with them“ says Thomas Johansson, Co-founder and Chief Executive of Mine Storage.
* European average household energy consumption. I.e. if a mine storage is generating 15 MW for 1 hour, it can support the electricity consumption of 35 000 households for 1 hour.
For more information, contact:
Thomas Johansson, co-founder and CEO, email@example.com, 070-696 78 00
– About Mine Storage
– About Anglesey Mining
About Mine Storage
Mine Storage aims to be true enabler of a sustainable energy transition by developing and operating fast-response and medium to large scale pumped hydro systems in underground mines.
Mine Storage is a Swedish company targeting the development and operation of grid-scale mine storages using infrastructure that is already available. The Mine Storage team have a combined total of 200 years’ experience within many areas of the power industry – from hydropower, wind development, energy trading and more. The Mine Storage team has collectively completed more than 30 infrastructure projects and been part of 19 start-ups.
About Anglesey Mining
Anglesey Mining plc is a UK mining company listed om AIM. It was incorporated in 1984 and currently has interests in projects in Wales, Sweden and Canada.
Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 295,220,548 ordinary shares on issue.
Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category.
Anglesey also holds an almost 50% interest in the Grangesberg Iron project in Sweden, together with management rights and a right of first refusal to increase its interest to 100%. Anglesey also holds 12% of Labrador Iron Mines Holdings Limited, which through its 52% owned subsidiaries, is engaged in the exploration and development of direct shipping iron ore deposits in Labrador and Quebec.