Mine Storage funding news – Stockholm-based Mine Storage Secures €22Million in Funding

This milestone shows the Innovation Fund’s commitment to supporting low-carbon technologies funded by emissions fees from polluters that are reinvested in sustainable projects.

Supporting the Shift to Sustainable Energy

It aims to address the growing need for energy storage as the world moves towards cleaner energy. The company uses abandoned mines for its storage systems which minimizes environmental impact lowers construction costs, and makes use of existing structures.

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Their systems can handle both large-scale storage and additional services adjusting technology to maximize profits based on local conditions. Currently only 3% of generated electricity is stored, highlighting the importance of large-scale energy storage for the energy transition.

These solutions are vital for balancing energy production and consumption improving grid stability and making mine storage a key player in achieving a sustainable zero-carbon energy future.

About Mine Storage

Founded in 2000 Mine Storage leverages its experience and partnerships with energy and mining companies to develop large-scale energy storage solutions using existing infrastructure. With a combined 200 years of experience in various areas of the power industry including hydropower and wind development it aims to be a global leader in energy storage.