Korea Zinc to invest $50 million in energy storage developer Energy Vault; operations to take place at its zinc refinery in Australia

https://www.reuters.com/article/korea-zinc-renewables-energy-vault/korea-zinc-backs-storage-developer-energy-vault-in-green-push-idUSL4N2TK0SY?

"Korea Zinc is the latest major company to back Swiss-based Energy Vault, following SoftBank Group Corp, Saudi Aramco and global miner BHP Group, ahead of a planned listing on the New York Stock Exchange this quarter... Energy Vault’s EVx storage system works liked pumped hydro, using power when supply is abundant to drive motors and raise 30-tonne blocks, rather than water, up to a height. When power is needed, the blocks are lowered, which releases their potential energy to generate electricity.

Related: New battery technology could be a ‘game changer’ for regional Australian communities

https://www.theguardian.com/australia-news/2022/nov/17/new-battery-technology-could-be-a-game-changer-for-regional-australian-communities