Up to 40 jobs are expected to be created during the construction of Europe’s first ever electricity grid-connected hybrid flywheel system in Rhode, Co. Offaly.
Minister Ged Nash announced the project last week, which is being run by Schwungrad Energie.
A further 15 jobs will be created in maintaining the flywheel which is being funded by Horizon 2020, Beacon Power, RR Projects, Enterprise Ireland and the European Commission.
The technology works by absorbing short-term excess grid energy and subsequently regenerating it as required by grid operators. The new company will provide employment opportunities for masters and PHD graduates.