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Energy Vault gets $110M investment from SoftBank Vision Fund

Energy storage startup Energy Vault SA has received a $110 million investment from SoftBank Group Corp.'s SoftBank Vision Fund that it will use to accelerate the global deployment of its technology.

SoftBank Vision Fund's investment is its first in energy storage technology, according to an Aug. 14 news release. Andreas Hansson, partner at SoftBank Investment Advisers, will join the Energy Vault board as part of the investment.

"Energy Vault is highly complementary to SoftBank's existing energy portfolio and we are pleased to further the company's global development," said Akshay Naheta, managing partner at SoftBank Investment Advisers.