Energy Vault's Energy Storage Innovation
SoftBank's Vision Fund Investing Big in the Swiss Startup
Storing Solar and Wind Energy for 24/7 Use
Switzerland's energy storage technology company Energy Vault has received a $110 million investment from SoftBank's Vision Fund, one of the world's largest technology investors. The company stores wind and solar energy in a huge tower of concrete blocks. It uses software to autonomously control the energy tower's operations including a 400 foot, 6 armed crane that stacks the energy storage blocks. And it uses algorithms to account for changes in energy supply and demand, weather, grid needs and other factors. Storing renewable energy is the biggest challenge facing the green energy industry. Energy Vault has a very innovative solution that SoftBank's Vision Fund is betting on.
Global Expansion
Energy Vault relies on low cost materials like cement blocks to provide energy storage. It says it's a much cheaper method than lithium-ion batteries to store electricity. The company says their technology enables renewables to deliver baseload power for a lower cost than fossil fuels 24.7 Through storage, the system eliminates the intermittent and unpredictable nature of wind and solar power. With the Japanese Vision Fund investment, Energy Vault will now deploy its technology globally, starting with large-scale prototype plants in Italy and India. For a free Kindle borrow of my book "List of Top New Energy Innovations", to go amazon.com/author/ekane
https://www.amazon.com/gp/product/B07KM4XLH8/ref=dbs_a_def_rwt_bibl_vppi_i8
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| Source: Solar Vault computer rendering |
Storing Solar and Wind Energy for 24/7 Use
Switzerland's energy storage technology company Energy Vault has received a $110 million investment from SoftBank's Vision Fund, one of the world's largest technology investors. The company stores wind and solar energy in a huge tower of concrete blocks. It uses software to autonomously control the energy tower's operations including a 400 foot, 6 armed crane that stacks the energy storage blocks. And it uses algorithms to account for changes in energy supply and demand, weather, grid needs and other factors. Storing renewable energy is the biggest challenge facing the green energy industry. Energy Vault has a very innovative solution that SoftBank's Vision Fund is betting on.
Global Expansion
Energy Vault relies on low cost materials like cement blocks to provide energy storage. It says it's a much cheaper method than lithium-ion batteries to store electricity. The company says their technology enables renewables to deliver baseload power for a lower cost than fossil fuels 24.7 Through storage, the system eliminates the intermittent and unpredictable nature of wind and solar power. With the Japanese Vision Fund investment, Energy Vault will now deploy its technology globally, starting with large-scale prototype plants in Italy and India. For a free Kindle borrow of my book "List of Top New Energy Innovations", to go amazon.com/author/ekane
https://www.amazon.com/gp/product/B07KM4XLH8/ref=dbs_a_def_rwt_bibl_vppi_i8
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