Edinburgh based energy storage company Gravitricity has gone into administration, according to Energy Voice. The firm, which developed gravity based storage technology using suspended weights in mine shafts, is now seeking a buyer through administrators. No financial figures or creditor details were disclosed in the report.
Why it matters: The collapse highlights funding risks for novel storage technologies that compete with battery systems in the EV charging infrastructure stack. Gravitricity's technology was positioned as grid scale storage that could support renewable energy and charging networks, so its failure may prompt CPOs and developers to reassess reliance on emerging storage solutions versus proven lithium ion systems.