Green Assist: Greening Europe’s energy landscape with innovative gravity storage grid

In the heart of Poland’s Oława EKO Energy Cluster, a groundbreaking project is currently being developed to provide greener, cleaner energy. The company PROMET-PLAST has embarked on a mission to build a smart energy grid with gravity energy storage – an emerging technology that uses suspended solid weights to store and release energy. Gravity energy storage is a cleaner alternative to traditional batteries, with the ability to reload energy 10–20 times per day.

This innovative project will integrate the company’s existing energy system to ensure a consistent energy supply that adapts swiftly to volatile energy sources. PROMET-PLAST’s smart energy grid has the potential to increase renewable energy use in Europe and curtail greenhouse gas emissions. The project offers stability and sustainability in a time when energy independence is more crucial than ever. In September 2023 the company received a long-awaited patent further confirming the innovative nature of this technology.

Recognising the project’s potential impact on Europe’s green energy sector, PROMET-PLAST sought guidance from the EU initiative Green Assist. As a result, between July and December 2023, the company received free tailored advisory support from hand-picked experts to boost its green venture.

The project’s chief financial officer, Adam Wąsiewicz, said: ‘I did not expect to encounter such committed individuals who not only sought to understand my project but also provided constructive assistance.’

PROMET-PLAST’s request for support was multi-faceted. Green Assist helped the company to develop a robust business model and financing strategy. Offering independent opinion, the initiative experts helped the company to approach the financial market and investors. They were also providing a comprehensive analysis of market dynamics, focusing on the Polish renewable energy landscape.

Adam added: ‘Green Assist helped us to gain a better understanding of the expectations of potential investors. The questions posed by Green Assist experts revealed several threats that we were not aware of, allowing us to safeguard against them.’

In addition, PROMET-PLAST asked Green Assist for support with presenting its project to EU institutions and the wider public. The project aims to bolster its investment appeal, seeking advice on how to navigate the challenges inherent to an innovative venture.

‘The materials prepared by the Green Assist team are top-quality, making conversations with investors much smoother. I also appreciate that all tasks are completed within the agreed deadlines,’ noted Adam.

Green Assist also supported PROMET-PLAST with designing the final reporting and satisfaction surveys, ensuring that the project remains on course and responsive to the ever-evolving demands of the green energy sector.

‘Meetings with the Green Assist team have consistently been constructive, and we have never wasted time on unnecessary discussions. I am grateful that Green Assist listened to us and understood our needs. I would highly recommend collaborating with the Green Assist team. They are true professionals,’ said Adam.