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 (NRGV) delivers innovative grid-scale energy storage solutions using gravity and kinetic systems to address renewable energy intermittency. This page provides a comprehensive archive of official announcements, financial updates, and operational developments directly from the company and verified sources.
Investors and industry stakeholders will find timely updates on NRGV's technology deployments, partnership agreements, and market expansions. Key content includes earnings reports, project milestones, and advancements in long-duration energy storage systems designed to stabilize renewable power grids.
All materials are organized to help users track the company's progress in transforming energy infrastructure. Bookmark this page or check back regularly for authoritative updates on ENERGY VAULT's role in advancing sustainable energy storage worldwide.
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.
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.
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
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.
Energy Vault Holdings, Inc. (NYSE: NRGV) has announced the granting of equity awards to new employees under its 2022 Employment Inducement Award Plan. The Compensation Committee of Energy Vault's Board of Directors approved the following grants effective September 24, 2024:
- 100,000 restricted stock units to new, non-executive employees
- An option to purchase 250,000 shares of common stock at fair market value
- 500,000 restricted stock units and 500,000 performance-based restricted stock units to Greg Daily, Group Executive
These awards are intended as inducements for new employees joining Energy Vault. The restricted stock units will vest 25% on the first anniversary of the vesting commencement date, followed by 6.25% every three months thereafter, subject to continued employment.
Energy Vault Holdings, Inc. (NYSE: NRGV) has achieved a Corporate Sustainability Assessment (CSA) score of 68 out of 100 in the 2024 S&P Global Environmental, Social, and Governance (ESG) Ratings. This represents a 36% increase from their 2023 rating, placing Energy Vault in the 98th percentile among 195 companies assessed in the Machinery and Electrical Equipment (IEQ) industry.
Energy Vault's score is the highest achieved by any energy storage company in the IEQ industry according to S&P Global's 2024 ESG Ratings to date. The company held the highest scores for Product Stewardship and Business Ethics as of September 2, 2024.
Energy Vault's sustainability roadmap aligns with the Science Based Targets Initiative (SBTi), Global Reporting Initiative (GRI), and Task Force on Climate-Related Financial Disclosures (TCFD). The company has committed to reducing absolute scope 1 and 2 GHG emissions by 50% by 2030 and achieving net-zero emissions by 2050.
Energy Vault Holdings (NYSE: NRGV) has received a notice of non-compliance from the New York Stock Exchange (NYSE) due to its stock price falling below $1.00 for 30 consecutive trading days. The company has six months to regain compliance and avoid potential delisting. Energy Vault plans to notify the NYSE of its intent to cure the deficiency by September 27, 2024.
The company is considering various options, including actions that may require stockholder approval at its next annual meeting. If such action is taken, the price condition will be deemed cured if the stock promptly exceeds $1.00 and remains above that level for at least 30 trading days. Energy Vault's stock will continue to trade on the NYSE during this period, subject to compliance with other listing standards.
Energy Vault Holdings (NYSE: NRGV), a global energy storage company, announced on August 2, 2024, that its Compensation Committee granted restricted stock unit (RSU) awards covering 507,000 shares to 5 new non-executive employees. These grants were made under the 2022 Employment Inducement Award Plan and are compliant with NYSE Listing Rule 303A.08. The RSUs are intended to attract new talent as an inducement to employment. The units vest as follows: 25% after one year, and 6.25% after each three-month period of continuous service thereafter. The RSUs are governed by the terms of the Inducement Award Plan and associated award agreements.
Energy Vault Holdings (NYSE: NRGV) reported Q2 2024 financial results, highlighting a GAAP gross margin of 27.8% and revenue of $3.8 million. The company announced a new 400MWh battery storage project in Australia with ACEN and entered a partnership with Skidmore Owings & Merrill for gravity energy storage integration. Despite a GAAP Net Loss of $(26.2) million, Adjusted EBITDA improved by 12% year-over-year to $(15.8) million. Energy Vault maintains a strong financial position with $113.0 million in cash and no debt. The company reaffirmed its full-year 2024 guidance and expects cost savings of $6–8 million annually from organizational realignment measures.
Energy Vault Holdings (NYSE: NRGV) and Carbosulcis have announced plans to develop a 100MW Hybrid Gravity Energy Storage System at Italy's largest former coal mining site in Sardinia. The project aims to accelerate the formation of a Renewable Energy Technology Hub. Key points include:
1. The system utilizes Energy Vault's new EV0™ modular pumped hydro gravity storage technology and lithium-ion batteries, powered by VaultOS™ energy management software.
2. Deployment is planned in 500-meter-deep shafts at the former coal mine owned by the Sardinia Regional Government.
3. A land lease agreement was executed in July 2024, with site testing to begin in the coming months.
4. The system will be owned and operated by Energy Vault, aiming to increase local renewable energy use and grid stability in Sardinia.
