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Energy Vault Holdings, Inc. (NYSE: NRGV) is a grid-scale and utility-scale energy storage company whose news flow centers on project milestones, financing developments and strategic partnerships in the energy storage sector. Company announcements describe Energy Vault as a global leader in grid-scale energy storage solutions, with a portfolio that includes proprietary battery, gravity and green hydrogen storage technologies supported by its VaultOS™ energy management platform.
News about Energy Vault often highlights progress on major projects and platforms. Examples include the start of construction of the SOSA Energy Center, a 150 MW / 300 MWh battery energy storage system in Madison County, Texas, under the company’s Asset Vault platform, and the successful completion and commercial operation of the Calistoga Resiliency Center, a hybrid battery and hydrogen microgrid developed with Pacific Gas and Electric Company to provide long-duration, zero-emission backup power during Public Safety Power Shutoff events.
Investors following NRGV news will also see updates on the company’s “Own & Operate” strategy and Asset Vault, a fully consolidated subsidiary launched with a $300 million preferred equity investment from Orion Infrastructure Capital. Press releases and related Form 8-K filings describe Asset Vault’s role in developing, building, owning and operating energy storage assets globally, and in contracting design, construction and long-term service agreements back to Energy Vault.
Additional news items cover commercial agreements and market entries, such as B-VAULT™ FlexGrid deployments for Schindler Group and Energie Wettingen AG in Switzerland, and a Framework Supply Agreement with EU Green Energy LLC for up to 1.8 GWh of battery energy storage systems in the Balkan region. Financial updates, including quarterly results, backlog figures, financing arrangements and NYSE compliance notices, are also disclosed through regular press releases and SEC filings. Readers can use this news feed to track Energy Vault’s project pipeline, asset ownership strategy and regulatory disclosures over time.
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.
Energy Vault (NYSE: NRGV) has announced a strategic partnership with NuCube Energy to accelerate the delivery of NuCube's NuSun platform, targeting AI data centers' power needs. The collaboration integrates NuSun microreactors with Energy Vault's VaultOS Energy Management System and B-VAULT Battery Storage System.
The partnership aims to deploy the integrated solution by late 2028/early 2029, addressing the U.S. data center market's projected 500 TWh consumption. Energy Vault will contribute its material science expertise for shielding systems and develop customized software capabilities within VaultOS to enable joint control of NuSun and B-VAULT BESS.
NuSun is an advanced nuclear microreactor using TRISO fuel and heat pipes, designed for safe, zero-carbon power generation with minimal moving parts. The system will be contained within a transportable stainless-steel vessel, with an emergency zone planning to the building itself.
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.
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