– SWITZERLAND, Lugano – Energy Vault, the energy storage company, today announced a $110 million dollar investment from Japan’s SoftBank Vision Fund. This investment will set the company on the path to accelerating its development of large energy storage projects with its unique gravity-assisted technology.
The $110 million Series B funding round will allow the company to develop projects that follow on the heels of its existing quarter-scale demonstration installation in Switzerland. The initial project, which has been functioning since July 2018, has allowed the company to refine the software that controls the system, test the durability of the composite bricks, and improve overall efficiencies in order to provide a cost-effective storage solution.
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