The world’s largest technology investor, SoftBank’s Vision Fund, has made its first investment in an energy storage company, betting US$110 million on Swiss start-up Energy Vault.
Energy Vault’s storage solution was created based on the principles behind pumped hydropower stations, which use gravity to store and release energy.
One advantage is that Energy Vault’s technology can be installed almost anywhere, unlike pumped-hydro systems that need at least two massive reservoirs at different elevations to work.
Akshay Naheta, the managing partner for SoftBank Investment Advisers, has estimated the system can be deployed for 15% of the price of a similarly-sized lithium-ion battery installation.
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Date: Aug 19, 2019 @ 09:24
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