A gravity and buoyancy engine producing energy via a cyclical process of harnessed gravity and buoyancy has a gravity chamber, at least one air lock chamber, at least one electricity producing system, at least one buoyant object, and at least one vertical motion transfer assembly. The gravity chamber provides a zone for the buoyant object to engage the vertical motion transfer assembly as the buoyant object descends toward the air lock chamber. The vertical motion transfer assembly further transfers kinetic energy from the vertical motion of the buoyant object to the electricity generating system in order to provide useable electrical energy. The airlock chamber subsequently reintroduces the buoyant object into the buoyancy chamber to return said buoyant object to an elevated position and recycle through the gravity chamber.