STOCK TITAN

Energy Vault Holdings, Inc. - NRGV STOCK NEWS

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.

Energy Vault Holdings, Inc. (symbol: NRGV) is a pioneering Swiss-based global company specializing in grid-scale energy storage solutions. With a focus on long-duration energy storage, Energy Vault leverages gravity and kinetic energy to address the intermittence issues associated with renewable energy sources like solar and wind. This innovative approach supports a faster transition toward renewable power, ensuring a more reliable and consistent energy supply.

Energy Vault's core business revolves around its unique technology that stores and releases energy by lifting and lowering massive weights. This process is not only efficient but also environmentally friendly, as it eliminates the reliance on chemical batteries, reducing waste and ecological impact. The company's products are designed to provide sustainable and scalable energy storage solutions that can be deployed in various geographies.

Recent achievements for Energy Vault include securing significant partnerships and collaborations with leading renewable energy providers. These strategic alliances have enhanced the company's market presence across the United States, China, and other regions, where the majority of its revenue is generated. Their projects aim to support energy grids in maintaining stability and reliability, even during peak demand or low production periods from renewable sources.

Financially, Energy Vault remains strong, with a growing portfolio of completed and ongoing projects that demonstrate their technology’s efficacy and commercial viability. The company's commitment to innovation is evident in their continuous investment in research and development, ensuring they stay ahead in the rapidly evolving energy storage market.

Overall, Energy Vault Holdings, Inc. is at the forefront of revolutionizing energy storage, bringing tangible benefits to the grid infrastructure necessary for a sustainable energy future. Their cutting-edge solutions and strong market position make them a key player to watch in the renewable energy sector.

Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV) and RackScale Data Centers (RSDC) announced a strategic partnership to deliver 2GW of power to data centers through Energy Vault's B-Nest™ hyperscale battery energy storage system. The B-Nest™ offers 8X the energy density of standard battery solutions, storing up to 1.6GWh per acre, ensuring 24/7 power availability for space-constrained sites. Construction is set to begin in 2026. The B-Nest™ will enable RSDC to bypass grid power shortages, accelerating data center development timelines. This partnership aims to deploy 2GW/20GWh of B-Nest infrastructure and participate in demand response programs to stabilize the grid and support renewable power expansion. Data center power demand is projected to grow by 160% by 2030, driven by AI. The B-Nest™ technology is based on Energy Vault's gravity-based storage systems and will be managed by VaultOS Energy Management System to optimize operations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.15%
Tags
partnership
-
Rhea-AI Summary

Gridmatic, an AI-enabled power marketer, announced significant growth in its energy storage and retail businesses. The company has secured 300 MW / 1 GWh of storage under management across ERCOT and CAISO markets, including projects with Energy Vault (NYSE: NRGV). Their AI technology has demonstrated superior performance, achieving $113/kW/year annualized revenue in ERCOT BESS during H1 2024, representing a 61% increase over the market average of $70/kW/year.

Since launching as a Retail Energy Provider in ERCOT in early 2023, Gridmatic Retail has expanded its services to commercial and data-center clients, offering stable clean energy contracts and innovative solutions including Time-Matched Renewables and customized options for flexible loads.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.78%
Tags
none
-
Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV) announced that its Compensation Committee has granted restricted stock unit awards to three new non-executive employees, covering 96,000 shares of common stock. Additionally, Brad Eastman, the company's new Chief Legal Officer, received 700,000 restricted stock units and a performance-based stock unit award of 300,000 shares. The awards were granted under the 2022 Employment Inducement Award Plan as hiring incentives. The regular stock units vest 25% after one year and 6.25% quarterly thereafter. Eastman's performance units vest based on stock price targets of $3.00, $4.00, and $5.00 within four years.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.99%
Tags
none
Rhea-AI Summary

Energy Vault reported Q3 2024 financial results with revenue backlog growing 33% quarter-over-quarter to $350 million, driven by new contracts with Jupiter Power and Gridmatic. Q3 GAAP gross margin reached 40.3% with higher services and software content. Operating expenses improved to $27.6 million, with adjusted operating expenses down 13% year-over-year to $15.2 million. The company maintained $77.7 million in cash with no debt, while reporting a GAAP net loss of $26.6 million. The developed pipeline grew 11% to 10.8 GWh, valued at $2.7 billion. The company's EVx™ Gravity System in China achieved ~83% efficiency and was recognized as one of TIME's Top Inventions of 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-28.86%
Tags
-
Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV) announced plans to deploy a 57 MW/114 MWh Battery Energy Storage System (BESS) in Scurry County, Texas, along with signing a 10-year offtake agreement with Gridmatic. The Cross Trails BESS project, set to begin construction in Q1 2025 with commercial operation by summer 2025, will support renewable energy production and improve grid resiliency in the ERCOT region. The system will be built using Energy Vault's proprietary X-Vault integration platform and B-VAULT™ product, managed by their VaultOS Energy Management System. This marks another milestone in Energy Vault's strategy to build, own, and operate energy storage infrastructure globally.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.23%
Tags
none
-
Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV) has successfully regained compliance with NYSE's minimum continued listing requirements. The company met the criteria specified in Section 802.01C of the NYSE Listed Company Manual by maintaining an average share price above $1.00 for 30 consecutive trading days as of October 31, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.49%
Tags
none
Rhea-AI Summary

Energy Vault's EVx gravity energy storage system has been selected as one of TIME's Best Inventions of 2024 in the 'Green Energy' category. The EVx technology combines principles of pumped hydro storage with custom-made composite blocks, achieving over 80% round-trip efficiency without storage degradation. The system can utilize locally sourced and waste materials, including mine tailings and decommissioned wind turbine fiberglass, creating a sustainable circular economy. Nine EVx deployments are currently underway in China, totaling more than 3.7 GWh, with the first grid-scale system being commissioned in Rudong. The company has also expanded into Southern Africa and partnered with Skidmore, Owings & Merrill for urban implementations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
13.41%
Tags
none
-
Rhea-AI Summary

Energy Vault Holdings Inc. (NYSE: NRGV) has signed an agreement with Enervest Group for a 1,000 MWh battery energy storage system (BESS) at the Stoney Creek site in New South Wales, Australia. The project, valued at over $350 million, aims to enhance grid reliability and support renewable energy capacity. Energy Vault will serve as the turn-key partner, providing engineering, procurement, construction, and commissioning services, as well as long-term support.

The BESS will utilize Energy Vault's proprietary X-Vault integration platform, B-VAULT™ product, and Vault-OS Energy Management System. This agreement marks Energy Vault's continued expansion in the Australian market, following recently announced projects totaling 400MWh in New South Wales set for delivery in 2025. The company's B-VAULT portfolio now consists of more than 2GWh in total projects either deployed or in development.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
24.5%
Tags
none
-
Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV), a leader in sustainable grid-scale energy storage solutions, has announced its schedule for the Third Quarter 2024 Financial Results conference call. The company will release its earnings results for the quarter ended September 30, 2024, on Tuesday, November 12, 2024, followed by a conference call at 4:30 PM ET.

Participants can join the call using the following numbers:

  • Domestic: 1-877-704-4453
  • International: 1-201-389-0920

A live webcast will be available on the company's investor relations website. A telephonic replay will be accessible until November 26, 2024, using:

  • Domestic: 1-844-512-2921
  • International: 1-412-317-6671
  • Access code: 13749083
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.37%
Tags
conferences earnings
Rhea-AI Summary

Energy Vault Holdings (NYSE: NRGV) announced progress in executing its growth strategy unveiled during the May 2024 Investor and Analyst Day. The company is launching project financing for select U.S. projects, including the Calistoga Resiliency Center, a large-scale hybrid hydrogen and battery energy storage system. Energy Vault is accelerating its 'Own & Operate IPP' strategy based on strong interest from strategic partners and investors.

The company is leveraging expertise from delivering 1 GWh of projects across the U.S. in the prior 12 months and expanding into Australia. Energy Vault has engaged Jefferies to facilitate various capital investment alternatives, including project financing, monetization of tax credits, and optimization of capital deployment models.

This strategy aims to diversify revenue streams, support growth, and maximize capital efficiency. The company's global expansion and expertise in large-scale energy storage solutions position it well to meet the growing demand for sustainable grid stability and resilience.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.67%
Tags
none

FAQ

What is the current stock price of Energy Vault Holdings (NRGV)?

The current stock price of Energy Vault Holdings (NRGV) is $2.53 as of January 3, 2025.

What is the market cap of Energy Vault Holdings (NRGV)?

The market cap of Energy Vault Holdings (NRGV) is approximately 349.9M.

What does Energy Vault Holdings, Inc. specialize in?

Energy Vault Holdings, Inc. specializes in grid-scale energy storage solutions using gravity and kinetic energy to support renewable energy sources.

Where is Energy Vault Holdings, Inc. based?

Energy Vault Holdings, Inc. is based in Switzerland but operates globally with a significant presence in the United States and China.

How does Energy Vault's technology work?

Energy Vault's technology works by lifting and lowering massive weights to store and release energy, using gravity and kinetic energy.

What makes Energy Vault's energy storage solutions environmentally friendly?

Energy Vault's solutions are environmentally friendly as they do not rely on chemical batteries, thereby reducing waste and ecological impact.

Which regions generate the most revenue for Energy Vault Holdings, Inc.?

The United States generates the majority of the revenue for Energy Vault Holdings, Inc.

What are some recent achievements of Energy Vault Holdings, Inc.?

Recent achievements include securing significant partnerships and collaborations with leading renewable energy providers and expanding their market presence.

Why are Energy Vault's solutions important for renewable energy?

Energy Vault's solutions address the intermittence issues of renewable energy sources, ensuring a stable and reliable grid even with fluctuating supply.

What are Energy Vault Holdings, Inc.'s main products?

Energy Vault's main products are long-duration energy storage systems that use gravity and kinetic energy to store and release power.

How does Energy Vault contribute to the renewable energy market?

Energy Vault contributes by providing innovative storage solutions that make renewable energy more reliable and accessible, supporting a faster transition to renewables.

What is the financial condition of Energy Vault Holdings, Inc.?

Energy Vault Holdings, Inc. is financially strong with a growing portfolio of projects and continuous investment in research and development.
Energy Vault Holdings, Inc.

NYSE:NRGV

NRGV Rankings

NRGV Stock Data

349.89M
121.84M
19.83%
38.18%
11.24%
Utilities - Renewable
Miscellaneous Electrical Machinery, Equipment & Supplies
Link
United States of America
WESTLAKE VILLAGE