ROUNDUP: Energy Vault enters Switzerland, ZincFive raises funds, Convergent closes on NYC financing

Energy Vault states that these contracts with the two companies represent a significant milestone in its plan to develop distributed, flexible, and community-focused energy storage systems throughout Switzerland and Europe.

At Schindler Group’s global headquarters in Ebikon, Energy Vault has installed a 2MW/4MWh B-VAULT FlexGrid system, marking its first installation in Switzerland. 

The project converts a former fire department depot into an energy storage facility that supports Schindler’s sustainability and decarbonisation objectives. Situated within 30 meters of residential buildings, Energy Vault claims that its demonstration shows large-scale energy storage can operate safely in urban and semi-urban zones. 

The system features custom acoustic silencers, enhanced noise reduction, and reactive power compensation, “ensuring quiet operation, grid stability, and voltage optimisation” for both Schindler’s manufacturing campus and the nearby community. It is backed by a 10-year service and maintenance agreement.

Delivered at the start of October, the system was completely installed, commissioned, and approved by Swissgrid in under four weeks. Schindler chose Energy Vault’s B-VAULT FlexGrid platform due to its small size, compliance with regulations, and its advanced safety and monitoring features.

Partnering with Energie Wettingen AG, northwest of Zurich, Energy Vault also signed an agreement to supply an 8 MW/16MWh B-VAULT FlexGrid system, tailored for “stacked, high-density deployment.”

The Wettingen project employs a two-level stacked design that doubles energy and power capacity within a compact space, providing 8MW of installed power for a 2-hour duration in under 50 square metres. 

The project will also utilise the company’s energy management system (EMS), VaultOS.

Both projects will be integrated into CKW’s Flexpool, Switzerland’s “most advanced and diversified” flexibility network. Managed by CKW Group, a subsidiary of utility and power firm Axpo Group, the platform brings together over 1,700 assets, 15 different technologies, and more than 1,000MW of qualified capacity, establishing it as the largest of its kind in Switzerland.

Through Flexpool, the B-VAULT FlexGrid systems will provide services like frequency regulation, voltage stabilisation, and peak-shaving, supporting Swissgrid’s ancillary markets and national grid resilience.

Before delivery, Energy Vault and CKW tested the digital interface connecting CKW’s Flexpool platform with VaultOS. This integration allows real-time monitoring, automated dispatch, and eased data exchange between Energy Vault’s systems and the platform’s aggregation network.

Energy Vault’s Swiss strategy involves a regional service and logistics centre in Central Switzerland to support EMEA deployments and after-sales. Its model emphasises compact projects, quick development, and service agreements for recurring revenue and reliable assets.

ZincFive secures US$30 million in Series F funding

Startup ZincFive, known for its innovative nickel-zinc (NiZn) battery, has secured US$30 million in Series F funding to expand its commercial presence and increase manufacturing capacity, aiming to meet the growing demand for AI data centre power solutions.

The funding comes after Zincfive announced its latest product, the BC 2 AI, a NiZn uninterruptible power system (UPS) battery cabinet tailored for AI data centres’ dynamic power demands. According to the company, it offers AI load support, zero thermal runaway risks, and features a 96% recyclable design.

The company also highlights that even depleted or weakened cells stay conductive, allowing systems to operate longer without needing maintenance or replacement components.

In a guest blog for Energy-Storage.news in March 2025, Tod Higinbotham, COO of ZincFive, wrote:

“With much of their services tied to data centres, meeting facility power needs sustainably is a priority. Immediate Power Solutions (IPS) batteries like nickel-zinc boast lifecycle emissions much lower than those of lithium and lead-acid batteries, with reduced water usage and volatile organic compounds as well. Recognising the role of IPS allows for a more holistic strategy of aligning business operations with larger concerns of sustainability and profitability.”

Higinbotham continued, “The increasing demand for data centres will have strong implications on the power value chain. Making the most efficient choices now will have strong long-term implications – and here, adopting new technologies and optimising designs to leverage immediate power solutions can be smart choices leading to efficiency gains.”

ZincFive says it now has nearly 2GW of NiZn battery backup cabinets deployed or contracted across the global data centre industry.

Convergent Energy and Power closes on financial facility for New York BESS

US distributed solar and storage firm Convergent Energy and Power has closed on a multimillion-dollar interconnection facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA).

The financing facility will support over 10 of Convergent’s upcoming BESS projects, aimed at enhancing grid reliability and resilience in New York City.

Convergent highlighted that, according to some estimates, New York will need to add 6,000 MW of battery storage to its grid by 2030, with the capacity expected to double to 12,000MW by 2040.

Along with achieving the State’s energy demand goals, incorporating BESS into the grid could help New York City boost energy resilience and reduce reliance on pollution-producing fossil fuel plants.

New York still operates approximately 6GW of peaker plants. These plants are active for just about 5% of the year, rarely running for more than eight hours at a stretch.

Despite their limited operational time, they significantly contribute to greenhouse gas (GHG) and particulate emissions, and they are costly to operate and maintain.

These plants are mainly concentrated in urban areas, especially near New York City, rather than in the less populated Upstate regions. This distribution results in low-income and minority communities bearing a disproportionate share of environmental and health impacts.

A 2020 study found that nearly 750,000 people in NYC live within a mile of a peaker plant, with 78% of these residents belonging to low-income or minority communities. Additionally, about 90% of the power needed for reliability in New York State is generated in NYC.

In April, NYSERDA initiated a programme to promote residential and retail energy storage across the state, providing a total of US$775 million for related projects.

According to the programme opportunity notice (PON) from NYSERDA, US$675 million is designated for retail energy storage initiatives, while US$100 million is allocated for residential energy storage solutions.

This Residential and Retail Energy Storage Market Acceleration Incentives Programme received approval from the New York State Public Service Commission (PSC) in a June 2024 order.

In January, energy storage developer NineDot similarly announced it had secured US$65 million in equipment financing to support the purchase of up to 100MW/400MWh of batteries, intended for 20 storage projects across New York City.