Mentioned:
Energy Vault wants to be on the leading edge of the battery storage business. Which is exactly why they’re coming to Japan next.
What’s happening:
- Energy Vault (NASDAQ: NRGV) has entered into a new deal to acquire a 850 megawatt battery energy storage development portfolio in Japan
Why it matters:
- This is the first time ever that Energy Vault has committed to develop a battery energy storage development project in Japan
Going deeper:
- Energy Vault has publicly stated that 350 megawatts of the new battery energy storage portfolio they are acquiring in Japan will begin commercial operations within the next two years
- Energy Vault has been making a flurry of new acquisitions lately, including just recently purchasing a 175 megawatt battery storage project located near Dallas, Texas that is anticipated to generate more than $15M USD in annual revenue once it becomes fully operational
The intrigue:
- Japanese technology investment giant SoftBank was one of the earliest institutional investors in Energy Vault and is one of the largest shareholders of the company
