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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 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.
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.
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.
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.
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.