Recently, Sizable Energy, a start-up company specializing in ocean energy, has announced the raising of $8 million to accelerate the implementation of its gravity energy storage system in marine environments. The round was led by Playground Global, and also includes Exa Ventures, Verve Ventures, Satgana, EDEN/IAG and Unruly Capital.
The capital raised will be used to advance pilot testing and prepare for the commercialization of its marine pumped hydro system, designed to provide low-cost, highly scalable long-duration energy storage (LDES).
How does it work and what are its advantages?
Sizable Energy’s energy storage approach is based on using the depth of the ocean to generate pressure to store energy via gravity. The system pumps saturated sea brine, which is denser than seawater, from the seafloor into a shallow reservoir and then releases it downward to generate electricity with turbines.
Sizable Energy states that the advantages of this system include:
- Lowest storage cost in the market, even cheaper than future projections for lithium batteries.
- Small or large units, from 1 to hundreds of gigawatt-hours, can be installed as required.
- It can be manufactured and assembled with today’s maritime technology (ships, ports, etc.).
- Since it is in the open sea and at depth, it does not affect the coastal landscape.
Basically, it is a battery that uses gravity and the depth of the ocean to store energy.
Current status and future plans
After successfully completing tests at the MARIN institute (The Netherlands), the company is now conducting further sea trials in Reggio Calabria, Italy, which will validate components and demonstrate the complete assembly and installation process of the system in real ocean conditions.
With the money raised and the backing of these tests, the company plans to build a megawatt (MW)-scale demonstration plant in the Mediterranean. Sizable Energy also expects to begin commercial development in 2026 in several locations around the world, in collaboration with governments, energy providers and local manufacturers.
What is the impact of this technology?
Long-term energy storage (LDES) is the “holy grail” for a 100% renewable power grid, so if Sizable Energy is successful, it could provide a reliable, cheap, and massive way to store energy from the sun and wind, making abandoning fossil fuelsmuch more viable and faster.
In addition, the world is projected to need up to 120 terawatt-hours of long-term energy storage by 2040, which is ten times the current installed capacity. In the face of this challenge, Sizable’s ocean system can be a significant game changer.
Source and video: Sizable Energy
