How UK's disused mine shafts plan to store renewable energy

Gravitricity develops winch and hoist system to store energy at half the cost of lithium-ion batteries

Britain's cheapest "virtual battery" could be created by hoisting and dropping 12,000-tonne weights - half the weight of the Statue of Liberty - down disused mine shafts, according to Imperial College London.

The surprising new source of "gravity energy" is being developed by Gravitricity, an Edinburgh-based startup, which hopes to use Britain's old mines to make better use of clean electricity at half the cost of lithium-ion batteries.