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Surge in Copper Demand due to EVs, AI, and Clean Energy

26Apr By PriyankaNo Comments

ANALYSIS

Surge in Copper Demand due to EVs, AI, and Clean Energy

The surge in demand for copper, driven by technological advancements such as artificial intelligence, automation, and the shift towards renewable energy and electric vehicles, has been highlighted. Copper cables, which conduct electricity, are particularly in demand. Graeme Train, the head of metals analysis at Trafigura, a Swiss-based company, estimates that a third of the 10 million tonnes of new demand will be generated by the electric vehicle sector. He also noted that another third will be used for electricity generation, transmission, and distribution. The remaining demand will come from areas such as automation, manufacturing capital expenditure, and cooling systems in data centers. The rapid production of electric vehicles and solar panels, along with grid investment in China...

Energy Vault Raises $110 Million From Softbank Vision Fund

17Aug By PriyankaNo Comments

FUNDING

Energy Vault Raises $110 Million From Softbank Vision Fund

Lugano, Switzerland: The creator of renewable energy storage products 'Energy Vault' raises $110 million Series B funding round from SoftBank Vision Fund. This is the first investment of Softbank in energy storage technology. Energy Vault will use the funds to accelerate the global deployment of its technology, which for the first time enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day. As part of the investment, Andreas Hansson, Partner for SoftBank Investment Advisers, will join the Energy Vault board of directors. Energy Vault’s breakthrough technology was inspired by pumped hydro plants that rely on the power of gravity and the movement of water to store and discharge electricity. The company’s solution is based on the ...

SoftBank Corp. To Invest Billions In Indian Solar Power Project

15Jun By Gauri SinghNo Comments

FUNDING

SoftBank Corp. To Invest Billions In Indian Solar Power Project

Japanese holding company, Softbank Group Corporation is determined to invest funds amounting to $60 billion to $100 billion in a solar power project in India. According to the reports, the funds being invested in the project are supposedly raised by the Softbank from the Saudi Arabia’s government. Saudi Arabia is the biggest investor in the Softbank’s Vision Fund, which was backed by an amount of $93 billion last year. After all the arrangements and preparations for the deal are done, both the parties that are Softbank and Indian government will make an official announcement for the same. Softbank was initially started as a telecom firm but it now has handed in a number of different areas, including e-commerce, finance, broadband, marketing, and more. The company has taken on an a...

24Nov By RishabhNo Comments

INSPIRATIONAL

Elon Musk In His Bet, Built The Biggest Battery In World Under 100 Days

Elon Musk made a bet! He remembers, and he made sure that the company delivers what he promised. Musk made a bet to build the biggest Li-ion battery in the world in 100 days to help South Australia to deal with its energy problem and he did. "Tesla will get the system installed and working 100 days from contract signature or it is free." Musk tweeted at the time of a deal initially negotiated over twitter. This world's largest lithium ion battery will be placed in testing this summer in South Australia and energized for the first time in the coming days as it enters a phase of regulatory testing, as per the press release. "Tesla Powerpacks, connected to Neoen's Hornsdale windfarm, have now been fully installed on site, with the testing phase ensuring the battery is optimised and me...