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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 ...

Tata Power Pacts with Tata Motors to Make Maharshtra EV Ready

Electric Utility Company Tata Power Ltd. has partnered with Tata Motors Ltd. to make Maharashtra electric vehicle ready, a move that will focus on establishing charging stations in the state for public use. The company has signed a MoU with the state to support the Maharashtra Electric Vehicle Policy (2018) in accelerating the adoption of electric vehicles, as informed in the Tata Motors official statement. The event witnessed Maharashtra Chief Minister Devendra Fadnavis inaugurating the new EV charging stations to mark the week-long World Environment Day celebration. Meanwhile, CEO & MD, Tata Power, Praveen Sinha said, We are happy to present Maharashtra with various electric vehicle charging stations that cover the wide expanse of the city. As a part of the pact, nine locatio...

Atomberg – A fan made by IIT-Bombay Alumni Selling 2000 Fans Monthly, Tie-up With Tata Powers

Atomberg Technologies, a Mumbai based fan manufacturing startup launched by IIT-Bombay alumni, has created an innovative and highly energy efficient fan called "Gorilla Fans". Gorilla Fans are based on the state-of-the-art Brushless DC technology that is more energy efficient than even the five-star ceiling fans available in the market. The Gorilla Fans consume just 28 watts of energy, even when operated at their highest speed. Multi-award winning startup Atomberg started manufacturing these fans back in November 2015, and within six months, their sales reached 1,000 fans per month and currently, the company is selling 12,000 fans per month, with a capacity to produce 30,000 fans per month. The Gorilla Fans are one of the highest rated and reviewed products on e-commerce giants like Ama...