SoftBank has agreed to invest $7m in airborne wind turbine maker Altaeros Energies, supporting the company’s development and commercialisation of its Buoyant Airborne Turbine (BAT) technology.
BAT is a wind turbine which is capable of producing over twice the energy when compared to similar tower-mounted wind turbines.
The technology is designed to increase energy output and reduce the cost of electricity for remote sites, while being used for applications like mining, oil and gas, agriculture, and disaster relief.
BAT can also be transported in standard shipping containers, which cuts down the logistical cost of using the technology.
SoftBank CEO Masayoshi Son said: "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."
"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."
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