ENERGY VAULT HOLDINGS INC Stock Price, News & Analysis

Energy Vault (NYSE: NRGV) has successfully completed and commenced commercial operations of its 57 MW/114 MWh Cross Trails Battery Energy Storage System (BESS) in Snyder, Texas. This marks the first project under the company's 'Own & Operate' growth strategy, completed ahead of schedule. The project features a 10-year offtake agreement with Gridmatic, providing a guaranteed revenue floor plus upside participation. The BESS utilizes Energy Vault's second-generation B-VAULT™ AC system and VaultOS™ Energy Management System, supporting renewable energy production and grid resiliency in the ERCOT region. Energy Vault's global portfolio now encompasses 725 MW/3,700 MWh across the U.S., Australia, and Italy, with storage durations ranging from 2 to 8 hours. The project's early completion demonstrates the company's execution capabilities and commitment to delivering shareholder value through efficient capital deployment and operating expenses.

Energy Vault (NYSE: NRGV) and Jupiter Power have signed an agreement for an additional 100 MW/200 MWh battery energy storage system (BESS) in the ERCOT region, following their successful July 2024 deployment. The new system will utilize Energy Vault's B-VAULT and VaultOS platform, with construction already underway and operations expected to begin by summer's end. This expansion builds on their partnership initiated in 2022, which included a 2.4 GWh supply chain agreement. Jupiter Power, with over 2,500 MWh in operation or construction, will benefit from Energy Vault's proprietary UL9540 certified technology and flexible system architecture. The project aims to enhance grid resiliency and support decarbonization efforts in ERCOT.

Energy Vault Holdings (NYSE: NRGV) announced the granting of restricted stock unit awards to 4 new non-executive employees, covering 481,000 shares of common stock under their 2022 Employment Inducement Award Plan. One employee received a performance-based restricted stock unit award (PSU) for 400,000 shares. The standard RSUs will vest 25% after one year, followed by 6.25% every three months thereafter. The PSU Award includes three price-based vesting targets: $3.50, $4.50, and $5.50 per share, with one-third of shares vesting at each target if achieved within four years. These equity awards were granted as employment inducements in compliance with NYSE Rule 303A.08.

Energy Vault (NYSE: NRGV) reported its Q1 2025 financial results, showing significant growth and operational progress. The company's contract revenue backlog increased 49% to $648 million, driven by strong performance in Australia and the U.S. Q1 revenue grew 10% year-over-year to $8.5 million, while GAAP gross margin more than doubled to 57.1%. Cash position improved 57% to $47.2 million.

Notable achievements include completing their first owned & operated energy storage asset in Texas (Cross Trails project), signing a 10-year license agreement with India's SPML Infra, and progress on multiple Australian projects totaling 2.6 GWh. The company is implementing a 15-25% reduction in quarterly adjusted operating expenses while maintaining growth investments in Australia. Adjusted EBITDA loss narrowed by 22% to $11.3 million.

The company expects additional cash proceeds of ~$45 million from project financing and ITC sales in Q2/Q3, with potential revenue upside from the recent China-U.S. tariff pause.

Energy Vault (NYSE: NRGV), a leader in sustainable grid-scale energy storage solutions, has scheduled its Q1 2025 earnings release and conference call.

Key Details:

• Earnings Release Date: Monday, May 12, 2025
• Conference Call Time: 4:30 PM ET
• Call Access Numbers: - Domestic: 1-877-704-4453 - International: 1-201-389-0920
• Replay Information: - Available until May 26, 2025 - Domestic: 1-844-512-2921 - International: 1-412-317-6671 - Access Code: 13753464

A live webcast will be accessible through the investors section of Energy Vault's website. An archived replay of the call will also remain available on the company's investor relations webpage.

Energy Vault Holdings (NYSE: NRGV) has announced the granting of restricted stock unit awards to 12 new, non-executive employees. The grants, effective March 5, 2025, cover 637,600 shares of common stock under the company's 2022 Employment Inducement Award Plan.

The restricted stock units were granted as employment inducements in accordance with NYSE Listing Rule 303A.08. The vesting schedule includes 25% of shares vesting on the first anniversary of the vesting commencement date, followed by 6.25% vesting every three months thereafter, subject to continued employment.

Energy Vault Holdings (NYSE: NRGV) has received a notice from the New York Stock Exchange (NYSE) on April 16, 2025, indicating non-compliance with continued listing standards due to its average closing stock price falling below $1.00 over a consecutive 30-day trading period.

The company has been granted a six-month cure period to regain compliance with the NYSE's minimum stock price requirement. Energy Vault plans to notify NYSE by May 1, 2025, of its intent to cure the deficiency and will consider available alternatives, subject to stockholder approval. During this period, NRGV's common stock will continue to trade on the NYSE.

Energy Vault (NYSE: NRGV) has released its 2024 Sustainability Report, achieving a significant milestone by securing the highest ESG ranking among energy storage companies from S&P Global Ratings. The company's ESG score increased by 37% from 2023, placing it in the 98th percentile of its reporting industry.

The report highlights Energy Vault's new Double Materiality Assessment, sustainability updates on projects and partnerships, and progress on sustainability infrastructure. The company received the 'Industry Mover' designation in S&P Global's Sustainability Yearbook for showing the strongest year-over-year improvement.

Energy Vault implements a Triple Bottom Line framework for product lifecycle strategies, focusing on financial, social, and environmental value. The company plans to update its science-based targets (SBTs) with the Science Based Targets Initiative (SBTi), addressing growing power demands from AI, data centers, and industrial electrification through its diverse technology portfolio.

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.