Published by Todd Bush on October 2, 2024
Initial project financing for groundbreaking green hydrogen project in Calistoga, CA expected in Q4
Process follows through on initiative first laid out during its May 2024 Investor and Analyst Day to maximize capital efficiency in its ‘Own & Operate’ IPP strategy
Management to accelerate investment strategy and increase potential capital deployment based upon significant proactive inbound investor interest
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (“Energy Vault”) (NYSE: NRGV), a leader in sustainable, grid-scale energy storage solutions, today announced continued progress in executing its growth strategy unveiled during the May 2024 Investor and Analyst Day.
>> In Other News: [x](x)
The Company is focusing on addressing the largest markets and growth regions, delivering more predictable and recurring revenues, and driving strong growth and profitability.
“Energy Vault continues to execute on our strategic vision, positioning the company at the forefront of the global energy transition,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault.
Key Highlights:
Launching project financing for select U.S. projects, including the Calistoga Resiliency Center – one of the world's largest utility-scale, ultra-long duration energy storage projects under a long-term agreement with PG&E. This first-of-its-kind hybrid hydrogen and battery energy storage system enables a cost-effective, community-scale, fully carbon-free microgrid that has the capability of storing and dispatching clean energy, on demand.
Leveraging existing expertise from delivering 1 GWh of projects across the U.S. in prior 12 months with expansion into Australia following recent project awards and contracts.
Accelerating 'Own & Operate IPP' strategy and increasing capital scale based on strong interest from strategic partners and investors.
Engaged Jefferies to facilitate various capital investment alternatives including project financing, monetization of relevant tax credits, and optimization of capital deployment models.
"As outlined earlier this year, we are progressing project financing for groundbreaking projects like the Calistoga Resiliency Center with PG&E and accelerating the timing and scale of our 'Own & Operate IPP' strategy," said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. "Leveraging the depth of our internal engineering, storage technology breadth, and project execution expertise to own and operate more assets will help diversify our revenue streams and support our growth, while ensuring we are maximizing our capital efficiency and resources."
Energy Vault's decision to accelerate its 'Own & Operate IPP' strategy comes in response to significant inbound interest from strategic partners and investors. This move is expected to enhance the Company's ability to capitalize organically and inorganically on emerging opportunities in the rapidly evolving energy storage market.
As the Company continues to expand its global footprint, with recent project awards and contracts in Australia complementing its strong presence in the United States and its license-royalty agreements in China and South Africa, Energy Vault is well-positioned to leverage its expertise in delivering large-scale energy storage solutions to meet the growing demand for sustainable grid stability and resilience.
Energy Vault has retained Jefferies LLC to assist the company with its project financing strategy, maximizing the value of available tax credits, and optimizing capital deployment models.
Energy Vault® develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s G-Vault™ gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ⚖️ CDR at a Crossroads: Is Private Sector Innovation Enough to Offset Washington's Wobble? 🌱 Exomad Green’s Biochar Field Study Reveals Significant Crop Yield Improvements In Bol...
Inside This Issue 🚀 Climeworks Raises USD 162M to Scale Up Technology 🛠️ DNV Advances Skylark to Enable Safe Scaling of CO2 Pipelines for Carbon Capture and Storage 🍁 Canada’s Rising Role in the G...
Inside This Issue 🏗️ Hyundai Unveils $6B Hydrogen-Powered Steel Mill in Louisiana, Aims to Position State as National Energy Leader 🤝 Deep Sky Inks Next DAC Deal in Germany with Greenlyte Carbon T...
Bayotech Shifts Northern California Hydrogen Hub Development to New Site to Accelerate Impact
Strategic decision enables faster path to clean hydrogen delivery and community investment HOUSTON /PRNewswire/ -- BayoTech, a global leader in hydrogen production and distribution solutions, toda...
Clean-energy Backers Blast US Budget Bill as a Setback
Bill cuts solar and wind tax credits, keeps nuclear and geothermal Energy Innovation projects 300 GW capacity fall due to bill Oil and gas industry praises bill for advancing energy dominanc...
WASHINGTON--"As Congress passes the One Big Beautiful Bill Act today, FCHEA is proud to have played a central role in helping restore the critical Section 45V hydrogen production tax credit. We com...
Next-Gen Construction: 200 & 500kVA Hybrid Fuel-Cell Power USA - English
Elemental Energy launches its latest 200 & 500kVA hybrid hydrogen-BESS solution to optimise power supplies and eliminate combustion generators LONDON, July 3, 2025 /PRNewswire/ -- Elemental En...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.