Following its investment spree, Japanese Corporation Softbank has now led a USD 7 million funding round in MIT-based Clean-Tech Startup Altaeros Energies.
The raised funds will be used to to support the development and commercialization of its Buoyant Airborne Turbine (BAT) technology. Altaeros was founded in 2010 at the Massachusetts Institute of Technology to commercialize the airborne wind turbine.
“Altaeros’ airborne wind turbine technology is a new and promising renewable energy solution for remote islands and locations in Japan and the Asia-Pacific region,” said Masayoshi Son, Chairman & CEO of SoftBank. “We also believe in the BAT’s potential to create new businesses by combining it with communication and surveillance technologies. We look forward to working with the Altaeros team.”
Altaeros’ wind turbines, called Buoyant Airborne Turbine (BATs) technology can fly higher than traditional wind towers, go up to 2,000 meters above ground and generates over twice the energy of similarly sized tower-mounted wind turbines. In addition, the BAT can lift other equipment high into the air, delivering services such as telecommunications to its customers.
Earlier this year, Softbank announced that its clean energy business unit will start retail distribution of renewable energy sources including solar and wind power in Japan.
Here is a video which shows Altaeros BAT and how it works:Category Business Investments