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. (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) and Pacific Gas and Electric Company (NYSE: PCG) announced a partnership to deploy a utility-scale hybrid energy storage system in Calistoga, California. The system, designed to provide 293 MWh of carbon-free energy, will support up to 2,000 electric customers during planned outages. The construction is set to begin in Q4 2023, with operations expected by Q2 2024. This innovative technology aims to replace traditional diesel generators, enhancing grid reliability and contributing to decarbonization goals.
Energy Vault (NYSE:NRGV) has been awarded a project by NV Energy, Nevada's largest electric utility, to deploy a 220MW/440MWh Battery Energy Storage System (BESS). Construction is set to begin in Q2 2023, with operations anticipated to commence by year-end 2023. This BESS, located near Las Vegas, will store and dispatch renewable energy during peak demand hours, supporting NV Energy's goal of achieving net-zero emissions by 2050. Energy Vault currently has approximately 4.8 GWh of contracted projects, underlining strong market acceptance.
Energy Vault Holdings, Inc. (NYSE: NRGV) issued a response to a short seller report by Bleecker Street Research, dated December 2, 2022, which contained factual inaccuracies regarding the company's projects. The company clarified that a 440 MWh deal with a public utility is not canceled and emphasized its commitment to announce further details soon. Energy Vault also addressed mischaracterizations regarding its projects in Poland and its partnership with DG Fuels. The firm reaffirmed its revenue guidance of approximately $680 million for 2022 and 2023, asserting confidence in its backlog and growth strategy.
Energy Vault announced its Q3 2022 results, reporting a revenue of $1.7 million and a net loss of $(28.8) million. Year-to-date revenue totaled $45.6 million, largely driven by gravity energy storage licensing with Atlas Renewable. The company maintains 2022 revenue guidance of $75-100 million and an adjusted EBITDA range of $(10) to $3 million. Total cash on hand was $274.7 million. Noteworthy contract signings include 495 MWh in projects, leading to a total project award potential of $2 billion.
Energy Vault Holdings (NYSE: NRGV, NRGV WS) has appointed
The transition aims to strengthen the finance function as the company embarks on multi-GW hour deployments of its energy storage solutions.
Energy Vault Holdings (NYSE: NRGV) has appointed E.B. Jensen as Senior Vice President of Project Execution and Delivery, effective immediately. Jensen, with over 30 years of experience, will oversee the execution and delivery of gravity and battery energy storage projects worldwide. His role includes collaboration with Engineering, Procurement and Construction (EPC) partners and optimizing supply chains. Jensen's previous roles at Mott MacDonald and Worley positioned him to drive significant revenue growth. This leadership change aligns with the company's global expansion in sustainable energy storage solutions.
Energy Vault Holdings, Inc. (NYSE: NRGV) has received a Notice of Award from Meadow Creek Solar Pty Ltd for the deployment of a 250MW/500MWh battery energy storage system at the Meadow Creek Solar Farm in Victoria, Australia. This marks the company's first battery energy storage system award in the Australian market, complementing its earlier developments in long-duration energy storage. The project aims to enhance the resilience of renewable energy supply in the region, catering to approximately 110,000 homes and aligning with Australia’s clean energy transition goals.
Energy Vault Holdings (NYSE: NRGV, NRGV WS) will announce its third-quarter earnings results for the period ending September 30, 2022, on November 14, 2022, followed by a conference call at 4:30 PM ET. Participants can join the call via phone or through a live webcast. The earnings call replay will be available until November 28, 2022. Energy Vault specializes in sustainable energy storage solutions, aiming to lower energy costs and boost reliability while supporting the transition to a circular economy.
Prime Movers Lab announced that Bill Gross, a notable serial entrepreneur, will be the keynote speaker at its 3rd Annual Breakthrough Science Summit on October 27, 2022. The summit aims to unite leading investors, public policy experts, and researchers to discuss critical advancements in science and technology. Gross, founder of Idealab, has significantly impacted the industry with over 175 companies created, including portfolio companies like Heliogen (NYSE: HLGN) and Energy Vault (NYSE: NRGV). The event will explore the Breakthrough Science Roadmap, focusing on future innovations.
Jupiter Power has signed a letter of intent with Energy Vault to secure 2.4 GWh of battery energy storage systems for deployment in U.S. projects. This agreement aims to maximize domestic manufacturing under the Inflation Reduction Act, focusing on supporting U.S.-based jobs and localization of storage equipment. The projects are expected to become operational in 2024 and 2025. Jupiter Power will utilize its assets to site new manufacturing facilities, including in economically disadvantaged areas. Energy Vault will leverage its technology platform to ensure these projects meet energy needs with sustainable solutions.