Energy Vault storage system can decarbonise Townsville zinc plant

Sun Metals zinc refinery plans to develop an innovative energy storage system at its Stuart zinc refinery.

AN innovative energy tower storage system is set to be developed at Townsville’s Sun Metals zinc refinery under a US$50m ($69.6m) investment by owner Korea Zinc.

The parties to the deal have announced the investment which will see the application of Swiss-based Energy Vault’s gravity energy storage technology and, potentially, the re-use of tailings and other waste materials at the refinery in the storage system’s composite blocks.

Energy Vault’s storage system works like pumped hydro, using power when supply is abundant to drive motors and raise 30-tonne blocks, rather than water, up to a height.

When power is needed, the blocks are lowered, releasing their energy to generate electricity.

“Energy Vault’s innovative storage technology and energy management software platform can play a key role in enabling and accelerating our decarbonisation strategy as we enhance our ability to power our operations with renewable energy,” Korea Zinc vice-chairman Yun B. Choi said.

“Our investment in Energy Vault underscores our commitment to advancing the production of metals that are essential for human life in a sustainable way.”

The companies announced a strategic partnership on renewable energy storage, while Korea Zinc also announced it had agreed to invest in Energy Vault ahead of a planned listing on the New York Stock Exchange through Novus Capital later this year.

Sun Metals is aiming to become one of the first zinc refineries in the world to produce “green” zinc to support a strategy to shift to 100 per cent renewable power by 2040, with an interim target of 80 per cent renewable by 2030.

Korea Zinc recently announced its Ark Energy Corporation would acquire utility-scale wind and solar energy developer Epuron to deliver more than 9GW of projects to meet Sun Metals’ renewable energy goals and support plans to produce green hydrogen. Sun Metals aims to deploy Energy Vault’s storage and energy management software technology and begin project deployment in mid-2022.

Ark Energy chief executive Daniel Kim said long duration energy storage, which was not geographically dependent like pumped hydro, remained the “holy grail” of the energy transition.

“Long duration energy storage would allow us to time shift renewable energy from the 124MW Sun Metals solar farm to more valuable periods of the day to increase the overall percentage of renewables in the energy mix and protect the Sun Metals zinc refinery from high wholesale prices,” he said.

The zinc refinery is the second largest single site consumer of electricity in Queensland – consuming around 1.3 million MWh of electricity a year which comprises about 30 per cent of its zinc production costs.

Originally published as Energy Vault storage system can decarbonise Townsville zinc plant