For ages flywheels have been used to achieve smooth operation of machines. The early models where purely mechanical consisting of only a stone wheel attached to an axle. Nowadays flywheels are complex constructions where energy is stored mechanically and transferred to and from the flywheel by an integrated motor/generator. The stone wheel has been replaced by a steel or composite rotor and magnetic bearings have been introduced. Today flywheels are used as supplementary UPS storage at several industries world over. Future applications span a wide range including electric vehicles, intermediate storage for renewable energy generation and direct grid applications from power quality issues to offering an alternative to strengthening transmission. One of the key issues for viable flywheel construction is a high overall efficiency, hence a reduction of the total losses. By increasing the voltage, current losses are decreased and otherwise necessary transformer steps become redundant. So far flywheels over 10kV have not been constructed, mainly due to isolation problems associated with high voltage, but also because of limitations in the power electronics. Recent progress in semi-conductor technology enables faster switching and lower costs. The predominant part of prior studies have been directed towards optimising mechanical issues whereas the electro technical part now seem to show great potential for improvement. An overview of flywheel technology and previous projects are presented and moreover a 200kW flywheel using high voltage technology is simulated.