– 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.
- Disclaimer - News, data and statement included in this release are intended exclusively for general information purposes. Talent4Boards accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the adequacy or accuracy of the information. No data or statement in this release should be considered for decisions about securities referred. Product and brand names used in this release maybe trademarks or registered trademarks of their respective owners.
Comments are closed.