EnergyBank has deep-sea plan to store wind power

EnergyBank's scale model test rig in Lake Taupō. (Image: EnergyBank)

Mon, 19 Dec 2022

A New Zealand startup company is hoping to solve wind power’s intermittent generation with a deep-ocean gravity-based storage system. EnergyBank is developing a bolt-on system for offshore wind turbines away from the continental shelf. The concept has led to some jaw-dropping reactions overseas, but the two-year-old company last year secured $2.7 million in seed funding from several venture capital firms.It is not the only New Zealand company with novel ideas for emission-free electricity generation.While startup Vortex Power Systems...

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