Anglesey Mining plc and RheEnergise have signed a memorandum of understanding (MOU) to explore the feasibility of deploying RheEnergise’s High-Density Hydro® (HD Hydro) energy storage technology at the Parys Mountain mine site. The project aims to support Anglesey’s renewable energy initiatives and provide a reliable source of clean energy for future mining and mineral processing operations.
HD Hydro technology is based on traditional pumped energy storage but uses a high-density fluid that is 2.5 times denser than water. This allows for installations that require significantly less elevation and are smaller and more cost-effective than conventional water-based systems.
Under the agreement, the companies will investigate the potential use of the existing 300m deep Morris Shaft at Parys Mountain for a hydro-energy storage project. The initial phase will involve a scoping study to assess the project’s technical and economic feasibility, including environmental impact evaluations and regulatory requirements.
Both parties will collaborate to secure non-dilutive funding to advance the project through feasibility studies, construction, and commissioning.
“RheEnergise has demonstrated that it is able to deliver demonstrator projects here in the UK,” said Rob Marsden, Chief Executive of Anglesey Mining. “The infrastructure and mothballed assets at Parys Mountain provide an ideal site at which to place a commercial-scale plant. Anglesey Mining are relentlessly focused on delivering a polymetallic underground mine at Parys Mountain. Securing a source of consistent green power on site while benefiting from the synergies between deployment of the technology and establishing a presence back underground at Parys Mountain is key to the strategy of de-risking the incremental development of the mine.”
Stephen Crosher, Chief Executive of RheEnergise, added, “We are delighted to have the opportunity to work with Anglesey Mining on this groundbreaking project. The Parys Mountain site presents a unique opportunity to demonstrate the versatility and scalability of our HD Hydro technology. We believe that this project will serve as a model for future deployments of energy storage solutions at mine sites around the world.”
The initiative aims to demonstrate the practical application of HD Hydro technology while contributing to the redevelopment of the Parys Mountain mine.
