Energy Vault

This week, The Economist released its highly anticipated “The World Ahead: Business in 2025” issue, offering valuable insights into the trends shaping industries worldwide. Among these, grid-scale energy storage takes center stage as the fastest-growing energy technology by 2025—a recognition that underscores the pivotal role of customized solutions in accelerating the global energy transition. We’re proud to see Energy Vault’s Sardinia project and our SOM partnership featured as promising alternatives to traditional lithium-ion storage. These projects highlight our commitment to advancing sustainable, cost-effective, and resilient energy solutions. The Economist positions us as a forward-thinking leader in the sector, delivering cutting-edge technology to meet the world’s growing energy demands. We are proud to see our efforts recognized in such a prestigious publication and look forward to continuing to lead the charge in transforming the energy landscape. Explore the articles and join the conversation on what lies ahead for the future of energy! Ten business trends for 2025, and forecasts for 15 industries: https://archive.is/BSXuP Tom Standage’s ten trends to watch in 2025: https://archive.is/hASdX Ten implausible-sounding scenarios for 2025: https://lnkd.in/ghdpauc5 #EnergyVault #EnergyStorage #Sustainability #TheWorldAhead2025

As demand for artificial intelligence (AI) surges across industries, its energy requirements are transforming global energy systems. The International Energy Agency (IEA) Agency projects that global data center electricity demand will more than double by 2026, driven by AI advancements. Meeting this challenge requires innovative and sustainable energy solutions—and that’s where Energy Vault is making a significant impact. A couple of weeks ago, we announced the Cross Trails Battery Energy Storage System, a 57 MW project in Texas with a 10-year offtake agreement with Gridmatic This energy storage system will enhance grid reliability and facilitate renewable energy integration, creating a foundation for powering the technologies of tomorrow. This milestone builds on our global mission to deploy #EnergyStorage solutions that accelerate the transition to a low-carbon future. Recent and ongoing projects include: ? Calistoga Resiliency Center, California: The largest utility-scale hybrid hydrogen + battery storage system, enabling a carbon-free microgrid to serve local communities during peak demand and extreme weather ? Carbosulcis, Sardinia: A 600 MWh gravity-based energy storage system designed to support Italy’s renewable energy targets ? New South Wales, Australia: A 1.0 GWh project advancing clean energy storage to support renewable adoption with Enervest As AI continues to redefine industries, its growing energy demands underscore the need for reliable and sustainable energy solutions. At Energy Vault, we are proud to lead the way with innovative projects that support both technological advancements and environmental stewardship. Read more about our latest initiatives in our newsroom: https://hubs.la/Q02YQFqn0 More from TIME https://hubs.la/Q02YQxFD0 #EnergyVault #AI #renewables #Sustainability #GridReliability

The 2024 Long Duration Energy Storage Council (LDES Council) Annual Report highlights the critical role of scalable storage solutions in achieving global decarbonization goals. LDES technologies are essential for reliable renewable energy integration, enabling a pathway to net-zero while enhancing energy security and cost efficiency. #EnergyVault, a proud member of the LDES Council, is recognized for its contributions to the sector. Specifically mentioned on pages 24 and 44, Energy Vault is driving global adoption of LDES with its gravity-based and hybrid ultra-long duration energy storage solutions, offering benefits for communities and industries alike. Report Highlights: ? The LDES market represents a $4 trillion investment opportunity, with potential annual savings of $540 billion. ? Scaling to 8 TW of LDES capacity by 2040 is critical, requiring deployment to accelerate 50x faster than current projections. ? Global innovators like Energy Vault are leading the way with projects spanning six continents. Energy Vault remains committed to reimagining energy storage and powering a sustainable future. Let’s work together to unlock the full potential of LDES and drive meaningful change for our planet. For more details, check out pages 24 and 44 of the report! https://hubs.la/Q02YpgXY0 #LDES #EnergyVault #EnergyStorage #Renewables #NetZero #Sustainability

Energy Vault Reports Third Quarter 2024 Financial Results: * Revenue backlog grew 33% quarter-over-quarter to $350 million primarily reflecting new contracts in the U.S. with Jupiter Power and Gridmatic; Australia project awards now exceed 2.6GWh * Transitional Q3 2024 revenue yielded 40%+ GAAP gross margin with higher services and software content; YTD 2024 GAAP Gross Margins are 28.3% * Operating expense improved to $27.6 million in Q3 2024; Adjusted operating expense improved 13% year-over-year and 7% quarter-over-quarter to $15.2 million reflecting prior organizational realignment in Q2 2024 * Commenced project financing for PG&E California long duration green hydrogen and Texas short duration storage projects, expected to bring $60-80 million of cash onto the balance sheet over the next two quarters * Rudong, China 25MW gravity system performance measurements for Round Trip Efficiency (RTE) tested at ~83%, placing it among the highest efficiency of any long-duration energy storage technology * The EVx? Gravity Energy Storage System was recognized as one of TIME Magazine’s Top Inventions of 2024 * Q4 2024 revenue ramp underway with battery shipments in the U.S. and project construction starts in Australia; affirming full-year 2024 annual guidance for all metrics within mid to low end of previously disclosed ranges Read more from the official press release: https://hubs.la/Q02X_rH90 #EnergyVault #PressRelease #earnings #RenewableEnergy #EnergyStorage #batterystorage #Renewables

Energy Vault Reports Third Quarter 2024 Financial Results: * Revenue backlog grew 33% quarter-over-quarter to $350 million primarily reflecting new contracts in the U.S. with Jupiter Power and Gridmatic; Australia project awards now exceed 2.6GWh * Transitional Q3 2024 revenue yielded 40%+ GAAP gross margin with higher services and software content; YTD 2024 GAAP Gross Margins are 28.3% * Operating expense improved to $27.6 million in Q3 2024; Adjusted operating expense improved 13% year-over-year and 7% quarter-over-quarter to $15.2 million reflecting prior organizational realignment in Q2 2024 * Commenced project financing for PG&E California long duration green hydrogen and Texas short duration storage projects, expected to bring $60-80 million of cash onto the balance sheet over the next two quarters * Rudong, China 25MW gravity system performance measurements for Round Trip Efficiency (RTE) tested at ~83%, placing it among the highest efficiency of any long-duration energy storage technology * The EVx? Gravity Energy Storage System was recognized as one of TIME Magazine’s Top Inventions of 2024 * Q4 2024 revenue ramp underway with battery shipments in the U.S. and project construction starts in Australia; affirming full-year 2024 annual guidance for all metrics within mid to low end of previously disclosed ranges Read more from the official press release: https://hubs.la/Q02X_rH90 #EnergyVault #PressRelease #earnings #RenewableEnergy #EnergyStorage #batterystorage #Renewables

We’re thrilled to see four of the pioneering startups we’ve invested in named in Time Magazine's "The Best Inventions of 2024" list. ?? ?? ArteraAI: Leveraging multimodal AI to revolutionize diagnostics, accelerating the future of personalized healthcare. ?? Cohere: Leading the way in AI with its Command R model, making advanced capabilities accessible and impactful for countless industries. ?? Energy Vault: Transforming renewable energy storage with its EVx technology, paving the path for a cleaner, more sustainable future. ?? Spiritus: Breaking new ground in carbon capture and environmental restoration with its innovative Carbon Orchard initiative. Congratulations to each team on this recognition! ?? We’re proud to be part of their journey as they push boundaries and lead the way to a resilient future. ??? Read more here: https://lnkd.in/ekZTJCpd #Innovation #BestInventions2024 #TimeMagazine #Pioneers #AI #Healthcare #PortfolioHighlight #AramcoVentures #Prosperity7

Energy Vault to deploy 114MWh battery energy storage system in US - click here: https://hubs.la/Q02XJyhX0 Pictured: Robert Piconi (Energy Vault) & Matt Wytock (Gridmatic) #energystorage #batterystorage #renewableenergy #usa

A few weeks ago, Energy Vault announced a strategic partnership with Enervest Group to develop a 1,000 MWh battery energy storage system (BESS) at the Stoney Creek site in New South Wales, Australia. This project aims to enhance grid reliability and support the state’s growing renewable energy capacity. Project Overview: ? Location: Narrabri, New South Wales ? Capacity: 1,000 MWh, sufficient to power approximately 1,000 homes for nearly 10 days ? Technology: Utilizing Energy Vault’s proprietary X-Vault integration platform, B-VAULT? product, and Vault-OS Energy Management System This initiative aligns with Australia’s recent commitment to over 1.4 GW of new solar and wind projects, representing a $3.3 billion investment in renewable energy. The Stoney Creek BESS will play a crucial role in integrating renewable energy sources into the grid, enhancing stability, and reducing carbon emissions. This project exemplifies Energy Vault’s commitment to delivering resilient and adaptable energy storage systems that meet the urgent demand for reliable, clean power globally. As we continue to grow our portfolio, we are thrilled to support renewable energy markets worldwide with impactful solutions. More from Los Angeles Business Journal: https://hubs.la/Q02XJdTZ0 More from pv magazine Australia: https://lnkd.in/g2XMFUYK #EnergyVault #RenewableEnergy #Australia #BatteryStorage #CleanEnergy #GlobalEnergy

https://lnkd.in/eaiQmNqA Energy Vault #bess #energystorage #energytransition #netzero

#EnergyVault is proud to announce FID Approval for 57 MW Cross Trails Battery Energy Storage System in Texas and 10-Year Offtake Agreement with Gridmatic: The Cross Trails #BESS will provide energy and ancillary services to support renewable energy production and improve grid resiliency in the Electric Reliability Council of Texas (#ERCOT) region. The upcoming deployment demonstrates Energy Vault’s execution on its growth strategy to maximize capital efficiency and profitability in building, owning and operating #EnergyStorage infrastructure. Read more: https://hubs.la/Q02Xw4WS0 #NRGV #RenewableEnergy #BatteryStorage #Resiliency