The collaboration aims to provide an energy storage solution to support Anglesey’s renewable energy projects and also a reliable and economical source of clean energy for future mining and mineral processing operations. High-Density Hydro (HD Hydro) energy storage is based on traditional pumped energy storage technology but rather than using water, a high-density fluid which is 2.5 x more dense than water is used in a closed loop. This technology requires 2.5 x less elevation than water-based systems for a given output and installations would also be correspondingly smaller and cheaper.
The MOU outlines the two companies' intention to jointly investigate the feasibility of utilising the modern 300-meter-deep Parys Mountain Morris Shaft to host a hydro-energy storage project. This initiative would not only demonstrate the capabilities of RheEnergise's HD Hydro technology in an operational environment but also facilitate the redevelopment of the underground mine at Parys Mountain.
The initial focus of the collaboration will be on conducting a comprehensive scoping study to assess the technical and economic viability of the proposed project. This will involve evaluating the potential environmental impacts and identifying any necessary permits or regulatory approvals.
The parties have agreed to work together to secure non-dilutive funding to support the project through the various stages of development, from feasibility study to construction and commissioning.
“RheEnergise has demonstrated that it is able to deliver demonstrator projects here in the UK” said Rob Marsden, Chief Executive of Anglesey Mining. “The infrastructure and mothballed assets at Parys Mountain provide an ideal site at which to place a commercial scale plant. Anglesey Mining are relentlessly focused on delivering a polymetallic underground mine at Parys Mountain. Securing a source of consistent green power on site while benefiting from the synergies between deployment of the technology and establishing a presence back underground at Parys Mountain is key to the strategy of de-risking the incremental development of the mine.”
The Parys Mountain site presents a unique opportunity to demonstrate the versatility and scalability of RheEnergise’s HD Hydro technology, added Stephen Crosher, Chief Executive of RheEnergise.
“We believe that this project will serve as a model for future deployments of energy storage solutions at mine sites around the world” Mr Crosher said.
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