Return to Today's Publications

 

Newsletter:
Date Range (YYYY-MM-DD) -
Company, Industry or Technology:
  Search Tips


Energy Vault Scores $110Mn Softbank Investment (Ind. Report)
Energy Vault, Softbank
Date: 2019-08-16
Tokyo-based Softbank Group is reporting a $110 million investment in Switzerland-based energy storage specialist Energy Vault. Energy Vault, which launched in 2018, is presently partnered with Mexican materials company CEMEX and Tata Power Company in India.

According to Energy Vault, its technology enables renewable energy to be stored in 35-ton bricks and delivered as baseload power for less than the cost of fossil fuels at any time.

The global energy storage market is expected to reach 22.2 GW in 2023, from nearly 5 GW at the end of 2018, according to a GlobalData report. . (Source: Softbank, greentechlead, 15 Aug., 2019) Contact: Energy Vault, Robert Piconi, CEO, media@energyvault.ch, www.energyvault.ch SoftBank Group, www.softbank.jp/en

More Low-Carbon Energy News Softbank,  Energy Vault,  Energy Storage,  


Cemex Invests in Swiss Energy Storage Startup (Ind. Report)
Cemex,Energy Vault
Date: 2019-05-20
Mexican materials Cemex has invested in Californian startup Energy Vault, a firm that has found a way to store energy inside concrete blocks using a system inspired by pump-storage hydroelectric plants. Energy Vault’s solution uses the same fundamentals of physics and kinetic energy as pumped hydro but replaces the water with custom made cylindrical blocks. According to Energy Vault, the low-cost blocks, combined with a patented system design and some control software, has allowed Energy Vault to deliver all the benefits of a pumped hydro system but at a much lower price, starting size and without the need for hard to find topography.

The tie-up with Cemex will provide Energy Vault with a network to distribute its “storage towers”. Gonzalo Galindo, Cemex Venture’s chief executive, said: “Energy storage that enables power to be delivered for less than the cost of fossil fuels is critical as the world shifts away from its reliance on carbon-based fuels to renewable energy. (Source: CEMEX, Global Construction Review, 20 May, 2019) Contact: Energy Vault, Robert Piconi, CEO, 1.626.535.2726, media@energyvault.ch, https://energyvault.ch; CEMEX Ventures, CEMEX USA, Ignacio Madridejos, Pres., Megan Lawrence, (713) 722-1799, www.cemexusa.com

More Low-Carbon Energy News Energy Storage,  Energy Vault,  Cemex,  

Showing 1 to 2 of 2.