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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.
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Energy Vault Holdings, Inc. (NYSE: NRGV) released a shareholder letter detailing progress on its first EVx™ gravity energy storage deployment in China. The letter, authored by Chairman and CEO Robert Piconi, highlights developments with key stakeholders from political, investment, and corporate sectors during his recent visit to China and Mongolia. Energy Vault is focused on sustainable, grid-scale energy storage solutions, utilizing eco-friendly materials in their innovative systems. The company aims to transform energy storage approaches and facilitate a transition to a circular economy, enhancing reliability and reducing energy costs for utilities and large energy users.
Energy Vault Holdings (NYSE: NRGV) has announced it will release its Q1 2023 earnings results on May 9, 2023, followed by a conference call at 4:30 PM ET. Participants can access the conference call by calling 1-877-704-4453 (international: 1-201-389-0920), with a live webcast available on their investor portal.
A telephonic replay will be accessible until May 23, 2023, at 1-844-512-2921 (international: 1-412-317-6671 with access code 13737559). Energy Vault specializes in sustainable grid-scale energy storage solutions, including gravity-based and battery storage technologies that support a shift toward a circular economy.
Energy Vault (NYSE: NRGV) CEO Robert Piconi appeared on Episode 68 of the ICR podcast, Welcome to the Arena. He discussed the company's focus on customer-centric energy storage solutions, which include proprietary gravity-based storage, battery storage, green hydrogen energy storage, and energy management software. Piconi highlighted the impact of the Inflation Reduction Act on the energy storage market. The podcast, launched in August 2021, features insights from industry leaders and is available on major platforms like Apple Podcasts, Spotify, and Google Podcasts.
Energy Vault reported Q4 2022 revenue of $100.3 million, driven by a 275MWh storage project in California. Total revenue for 2022 was $145.9 million, with a net loss of $(23.3) million. The company's cash position increased to $286.2 million, with no debt. Contracted orders total 1,635 MWh, representing potential revenue of $540 million. Looking ahead, Energy Vault projects 2023 revenue between $325 million and $425 million, reflecting a growth of 2x-3x. Adjusted EBITDA is expected to be $(50) million to $(70) million. Key contracts secured include projects in Nevada and Australia, indicating strong market positioning.
Energy Vault Holdings, Inc. (NYSE: NRGV) announced on February 24, 2023, the grant of restricted stock unit awards covering 693,203 shares to 25 new non-executive employees. This move is part of the company’s 2022 Employment Inducement Award Plan, aimed at attracting employees who were not previously with the company. The restricted stock units will vest incrementally, starting with 25% after one year and then 6.25% every three months thereafter, contingent on the employees’ continued service. Energy Vault focuses on developing sustainable energy storage solutions, leveraging proprietary technologies to aid the transition to a cleaner energy future.
Energy Vault Holdings (NYSE: NRGV) has announced it will release its fourth quarter and full year earnings results for the year ended December 31, 2022 on March 7, 2023, followed by a conference call at 4:30 PM ET.
Participants can join the call by dialing 1-877-704-4453, with international callers using 1-201-389-0920. A live webcast will also be available on the company's investor website. A telephonic replay will be accessible shortly after the call until March 21, 2023.
Energy Vault Holdings, Inc. (NYSE: NRGV) has appointed Theresa Fariello to its Board of Directors, effective February 1, 2023, succeeding Henry Elkus. Fariello brings vast experience from her roles at United Airlines and ExxonMobil, particularly in government affairs and public policy. The CEO, Robert Piconi, emphasized her expertise will enhance the company's strategy, particularly in leveraging opportunities from recent U.S. legislation, including the Inflation Reduction Act. Fariello expressed her commitment to helping the company address climate change through innovative energy storage solutions.
Energy Vault Holdings (NYSE: NRGV) has revised its full year 2022 revenue expectation to between
Energy Vault Holdings, Inc. (NYSE: NRGV) announced on January 9, 2023, that its Compensation Committee granted restricted stock unit awards for a total of 614,600 shares to 29 new non-executive employees as an employment inducement. This grant follows NYSE Listing Rule 303A.08. The stock units will vest in stages, starting with 25% after one year and 6.25% every three months thereafter, contingent on continued employment. Additionally, Jan Kees Van Gaalen received 250,000 units and Edmund Brown Jensen received 450,000 units, each with similar vesting conditions, plus a performance-based award for Van Gaalen.