Welcome to our dedicated page for ENERGY VAULT HOLDINGS news (Ticker: NRGV), a resource for investors and traders seeking the latest updates and insights on ENERGY VAULT HOLDINGS stock.
Company Overview
ENERGY VAULT HOLDINGS INC (NRGV) is a global energy storage company that revolutionizes grid-scale solutions using gravity and kinetic energy storage methods. Specializing in long-duration energy storage systems, the company addresses the intermittency challenges of renewable energy sources such as solar and wind. With a robust technological framework rooted in mechanical energy conversion, ENERGY VAULT plays a pivotal role in integrating renewable power into modern grids, making renewable energy assets more efficient and reliable.
Core Business and Technology
The company is deeply invested in advanced gravity-based energy storage, which converts excess renewable energy into potential energy. This approach leverages fundamental physics to store energy over prolonged periods, ultimately converting it back to electrical power when needed. The innovative use of kinetic energy in storage systems underscores a technical expertise aimed at reducing energy waste and smoothing out the variability of renewable power generation.
Market Position and Operational Footprint
Operating on a global scale, ENERGY VAULT is strategically positioned in major markets including the United States, China, and other regions. This broad geographical footprint enhances the company’s ability to compete in the energy storage market by aligning with regional energy policies and grid requirements. The company has established partnerships and engineering integrations that reinforce its role in the transition to renewable energy, placing it at the intersection of technology and sustainability.
Business Model and Revenue Streams
The company primarily generates revenue through its grid-scale energy storage solutions which are integral for stabilizing renewable energy output. By addressing the intermittence issues associated with renewable power, ENERGY VAULT’s solutions help utilities manage energy supply more effectively. Its model emphasizes capitalizing on infrastructure development, technological integration, and maintenance services, thereby ensuring long-term engagement with grid operators and energy providers.
Technological Innovation and Industry Impact
ENERGY VAULT's approach is embedded in energy storage innovation that blends traditional physical principles with modern engineering. The emphasis on gravity and kinetic energy storage is not only a demonstration of the company’s technical expertise but also a vital contribution to the renewable energy sector. This innovative methodology supports grid resilience and optimized energy management, making the company a significant participant in the conversation around sustainable energy infrastructure.
Competitive Landscape
Within the competitive realm of energy storage, ENERGY VAULT differentiates itself by harnessing mechanical principles to convert energy and support renewable integrative projects. Although the market features several energy storage entities and emerging technologies, the company’s unique focus on gravity and kinetic systems provides a distinct advantage. Its operational strategy, which includes a diversified geographical presence and a commitment to robust, long-duration energy storage, reinforces its competitive posture in the sector.
Industry Keywords and Terminology
- Grid-scale energy storage
- Renewable integration
- Gravity-based storage
These industry terms underscore the company’s deep technological roots and operational mandates, articulating its role in solving modern renewable challenges with innovative energy management solutions.
Conclusion
ENERGY VAULT HOLDINGS INC stands as a sophisticated provider of essential energy storage solutions that mitigate the challenges posed by renewable energy intermittence. Its scientifically grounded methods, extensive market footprint, and integration into grid infrastructure serve to underscore its commitment to enhancing the renewable energy landscape. The detailed presentation of its technology, market positioning, and business model provides a comprehensive picture necessary for stakeholders and industry observers interested in understanding the complexities of modern energy storage systems.
Energy Vault Holdings (NYSE: NRGV) has appointed Dylan Hixon to its Board of Directors, effective March 31, 2025, replacing co-founder Bill Gross who will transition to an advisory role. Hixon, an early NRGV investor and President of Arden Road Investments, brings extensive experience in transformative technologies with investments in companies like SpaceX and Niantic.
The company has shown recent momentum in both gravity energy storage and battery storage solutions. Key developments include:
- Partnership with Skidmore, Owings & Merrill for next-generation gravity energy storage systems
- 14-year Long-Term Energy Service Agreement for Stoney Creek BESS project in Australia
- BESS supply agreements with ACEN Australia and Victorian government's State Electricity Commission
- Development of the Calistoga Resiliency Center, set to be the largest green hydrogen long-duration energy storage system in the U.S.
Energy Vault (NYSE: NRGV) has signed a 10-year licensing and royalty agreement with SPML Infra for manufacturing and deploying B-VAULT battery energy storage technology in India. The deal includes:
- Initial 500MWh capacity worth ~$100 million to be delivered over the next 12 months
- Expected to scale to 30-40+ GWh over 10 years
- Agreement includes upfront licensing fees and long-term recurring royalty revenue streams
- Will impact revenue, gross margin and cash positively in Q1 and Q2 2025
The partnership aims to leverage SPML's local manufacturing capabilities and market expertise to achieve cost efficiencies in India's growing energy storage market. India's storage capacity requirement is projected to reach 236.2 GWh by 2031-32, with an estimated market size of $57 billion, growing to $443 billion by 2047.
Energy Vault Holdings (NYSE: NRGV) has secured $28 million in project financing for its Calistoga Resiliency Center (CRC), including the sale of Investment Tax Credit. The CRC is the world's first ultra-long duration hybrid green hydrogen energy storage microgrid serving PG&E in California.
The facility, designed to address power resiliency during wildfire risks, features a 293 MWh microgrid system delivering ~48 hours of continuous energy supply with 8.5 MW peak power output during Public Safety Power Shutoff (PSPS) events. The system combines hydrogen fuel cells with B-VAULT™ DC battery technology and is managed by VaultOS™ Energy Management System.
The CRC has achieved mechanical completion and is under commissioning, with full commercial operation expected in Q2 2025. Additionally, Energy Vault has executed binding commitments for Investment Tax Credits for two Texas projects, expected to yield over $25 million.
Energy Vault (NYSE: NRGV) reported its Q4 and full-year 2024 financial results, highlighting significant growth in contract revenue backlog, which increased 90% to $660 million from the previous quarter. The company's Q4 2024 revenue was $33.5 million, with full-year 2024 revenue at $46.2 million.
Key highlights include:
- Q4 2024 GAAP gross margin improved to 7.7% from 3.4% year-over-year
- Full-year 2024 GAAP gross margin increased to 13.4% from 5.1% previous year
- Cash position of $30.1 million with no debt as of December 31, 2024
- Six projects totaling 840MW under Energy Vault's asset portfolio
The company's 2025 outlook projects revenue of $200-300 million, representing a 4-6x increase versus 2024, despite impacts from converting build-and-transfer projects to own-and-operate assets and declining global lithium-ion battery prices.
Energy Vault Holdings (NYSE: NRGV) has announced the acquisition of the Stoney Creek Battery Energy Storage System (BESS) from Enervest Group for a construction value of USD $220 million. The 125 MW / 1,000 MWh project is supported by a 14-year Long Term Energy Services Agreement (LTESA) from the Australian Energy Market Operator.
The BESS project will deliver eight hours of dispatchable energy in New South Wales, utilizing Energy Vault's VaultOS™ energy management system and B-Vault™ architecture. Enervest will continue providing development services and stakeholder engagement until financial close.
This acquisition aligns with Energy Vault's 'Own & Operate' growth strategy and adds to their existing 2.6 GWh portfolio of energy storage projects in Eastern Australia. The company maintains commitment to working with the Narrabri Aboriginal Land Council and Gomeroi community throughout the project development.
Energy Vault Holdings (NYSE: NRGV) has rescheduled its earnings conference call from March 11, 2025, to Monday, March 17, 2025 at 4:30pm ET. The new date will align with the filing of the company's Annual Report on Form 10-K.
Investors can access the call through domestic (1-877-704-4453) or international (1-201-389-0920) lines. A live webcast will be available on the company's investor relations website. The telephonic replay will be accessible until March 31, 2025, using domestic (1-844-512-2921) or international (1-412-317-6671) numbers with access code 13750976.
Energy Vault Holdings (NYSE: NRGV) has secured a 14-year Long-Term Energy Service Agreement (LTESA) for its Stoney Creek Battery Energy Storage System (BESS) in New South Wales, Australia. The project, developed in partnership with Enervest, features a 1.0 gigawatt-hour battery system with 125MVA connection, making it one of Australia's largest 8-hour long duration battery systems.
The Stoney Creek BESS, valued at approximately AUD $350 million (~USD $220 million), will provide large-scale dispatchable storage capacity to support grid reliability and renewable integration. The project is expected to create 150 jobs during peak construction and four full-time operational roles post-completion.
Site mobilization and pre-construction activities are planned for the second half of 2025. This project represents a significant milestone in Energy Vault's 'Own & Operate' growth strategy, complementing ~2.6 GWh of previously announced projects in Australia.
Energy Vault (NYSE: NRGV) has begun construction of its first Battery Energy Storage System (BESS) in Australia at ACEN Australia's New England Solar project. The deployment consists of a 200 MW/2 hour battery system, marking the first of two planned installations at the 720 MW facility near Uralla, New South Wales.
The BESS will be the first large-scale battery storage project of its kind in the New England Region, supported by the NSW Government's Emerging Energy Program. The system will operate daily to dispatch stored renewable energy during peak consumption hours, helping reduce reliance on coal-fired power generation.
The project features Energy Vault's B-VAULT™ integrated battery solutions, coupled with a special inverter for advanced grid support functionalities. The system will be managed by Energy Vault's X-Vault integration platform and Vault-OS Energy Management System. This deployment adds to Energy Vault's growing Australian portfolio, which now includes 1.9GWh in previously announced projects.
Energy Vault Holdings (NYSE: NRGV) has announced it will release its fourth quarter and full year 2024 earnings results on Tuesday, March 11, 2025, followed by a conference call at 4:30 PM ET.
Investors can access the call through domestic (1-877-704-4453) or international (1-201-389-0920) numbers. A live webcast will be available on the company's investor relations website. A telephonic replay will be accessible until March 25, 2025, using domestic (1-844-512-2921) or international (1-412-317-6671) numbers with access code 13750976.
Energy Vault (NYSE: NRGV) has secured an agreement with Victoria's State Electricity Commission (SEC) to deliver a 100 MW/200 MWh battery energy storage system at the SEC Renewable Energy Park in Horsham, Victoria. The hybrid solar and BESS project represents a $370 million investment by SEC.
The renewable energy park will feature over 212,000 photovoltaic solar panels generating 119MW of solar power, with an annual capacity of 242,000 MWh. The project will power approximately 51,000 homes and create 246 construction jobs. The BESS system will utilize Energy Vault's X-VAULT™ integration platform, B-VAULT™ product, and VaultOS™ Energy Management System.
Construction has begun with full operations expected by late 2027. This marks Energy Vault's first government collaboration and expands its Australian presence, where the company's B-VAULT portfolio includes over 2GWh in deployed or developing projects.
FAQ
What is the current stock price of ENERGY VAULT HOLDINGS (NRGV)?
What is the market cap of ENERGY VAULT HOLDINGS (NRGV)?
What is the core business of ENERGY VAULT HOLDINGS INC?
How does ENERGY VAULT generate revenue?
What technologies does the company use in its energy storage systems?
What sets ENERGY VAULT apart from other energy storage companies?
In which markets does ENERGY VAULT operate?
How does ENERGY VAULT contribute to the renewable energy industry?
How does ENERGY VAULT address renewable intermittence?
