Gravity-based energy storage company Energy Vault has been issued a mandate for an initial 2GWh of its proprietary solution at net-zero industrial parks in China.
The construction of battery cell factories catering specifically for stationary energy storage means competition for supply with the EV sector will cool off in the next couple of years.
Gravity-based energy storage company Energy Vault expects US$680 million in combined revenue over 2022 and 2023, it claimed in its recent quarterly results.
Listed company Shenzhen CLOU Electronics says it has secured a contract with a “famous American energy company” to supply an energy storage system totalling 485MWh in South America.