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SoftBank completes its first investment in renewable energy storage

 Last Update: 2023-01-02
 Source: Internet
 Author: User

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magnetic energy

renewable fuels

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Energy storage company Energy Vault announced that it is investing $110 million
in its Series B funding round by SoftBank's Vision Fund.
This is SoftBank's first investment
in renewable energy storage.

Energy Vault will use the funding to accelerate the global deployment of its technology, which for the first time enables renewable energy to deliver baseloads
24 hours a day at a rate below the cost of fossil fuels.

As part of the investment, Andreas Hansson, partner at SoftBank's investment advisors, will join Energy Vault's board of directors
.
The investment in the technology is part of SoftBank's efforts to diversify investments in the energy transition and simplify the transition
to renewable energy.

Robert Piconi, CEO of Energy Vault, said: "We have been committed to replacing fossil fuels with renewable energy and we are excited to partner with the SoftBank Vision Fund to expand our global reach
.
”

Energy VaultSoftBankVision FundB1.
1 Renewable Energy

Energy Vault24

Andreas HanssonEnergy Vault

Energy VaultRobert PiconiSoftBank Vision Fund

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