The Cool Down Has High Praise For Renewell Energy’s Potential Under New Mexico House Bill 361

A recent article from The Cool Down explores how New Mexico’s House Bill 361 could enable companies like Renewell Energy to convert aging oil and gas wells into clean energy assets. The bill proposes streamlining regulations to support technologies that repurpose idle oil wells for alternative uses — including gravity energy storage and geothermal energy production.

Renewell is profiled as a key innovator using mechanical energy storage to extract new value from depleted wells. Unlike conventional batteries, our gravity well system stores and releases energy by raising and lowering a weight inside the well. This process delivers electricity from gravity — without reliance on lithium or other mined materials.

Unique Benefits Emphasized in the Article:

• Circular Infrastructure Use: Instead of capping and abandoning wells, which can be both costly and environmentally risky, Renewell’s technology puts these sites to work again — creating long-term value with minimal new development.
• Zero-Combustion Energy Storage: Gravity-based systems do not involve burning fuel, producing emissions, or generating toxic waste, making them ideal for utilities looking for green energy storage that is safe, silent, and durable.
• Regulatory Momentum: With bipartisan support, HB 361 could open the door to faster permitting and demonstration projects — accelerating the deployment of solutions like the gravity energy battery across the U.S.

Renewell continues to advance partnerships and pilot programs aimed at deploying gravity well systems at scale, addressing two urgent needs at once: cleaning up idle oil wells and providing flexible storage for an increasingly renewable grid.

Read the full article here:
The Cool Down – Lawmakers propose revolutionary use for old oil wells — here’s what it could mean for the energy sector