Economical Energy has developed a new, high elevation bucket elevator that can hoist material quicker and through smaller diameter shafts than traditional skip hoisting, meaning that the required shaft construction is both cheaper and quicker to build. 

This high elevation bucket elevator has two use cases. 

• The first is ore hoisting for deep underground mines, which is the focus of Economical Mining. 
• The second is long duration energy storage for variable renewable energy, which is the focus of Economical Energy.