SoftBank backs Altaeros’ wind turbine technology with USD 7m

Dec 5, 2014 - Japanese telecoms group Softbank Corp (TYO:9984) has agreed to invest USD 7 million (EUR 5.7m) in US high-altitude wind turbine developer Altaeros Energies Inc.

The goal of the partnership will be to develop and commercialise the US firm’s Buoyant Airborne Turbine (BAT) wind turbine technology, the parties said on Thursday. Altaeros uses aerospace technology that captures wind at higher altitudes than conventional turbines.

“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 SoftBank’s chairman and CEO Masayoshi Son. He also expressed his belief that the BAT’s potential can be combined with SoftBank’s communication and surveillance technologies.

Boston-based Altaeros was established at the Massachusetts Institute of Technology in 2010. Its BAT turbines operate up to 2,000 feet (600 metres) above ground and produce twice as much power than similarly sized tower-mounted generators. The machines do not need large underground foundations for installation and can be transported easily in standard shipping containers.

(USD 1.0 = EUR 0.808)

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