Leonardo DiCaprio’s gravity energy start-up is now worth $US2 billion, but a BHP alumnus reckons his tweak on the same concept could be the real blockbuster.
Mark Swinnerton says Green Gravity aims to raise the weights when excess renewable energy is available.“If Energy Vault is worth $US2 billion five weeks after listing, I do get excited about the potential for our business,” Swinnerton told, Swinnerton knew he wanted to do something that solved a big environmental, sustainability or governance problem for the resources industry.
“I don’t have to do any of that, I can dispense with the construction of a building and simply use what was already there; a hole that somebody else already drilled and used and is now redundant.” Aside from making clean energy at the precise moment it is wanted, Swinnerton’s concept could possibly offer some accounting benefits for those that partner with Green Gravity.
Swinnerton won’t name names, but the rumour mill suggests partnership negotiations are under way with several of Australia’s biggest companies.
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