Energy Vault has connected its first commercial EVx gravity-based energy storage system to the grid in China, while construction has been launched on three others, all-in-all totalling 468MWh of capacity.
A tax credit transaction worth US$60 million using new transferability mechanisms from the Inflation Reduction Act has closed, for a BESS project deployed by Energy Vault for W Power and Wellhead Electric.
The four most high-profile energy storage system (ESS) companies that listed via SPAC mergers – Eos, Energy Vault, ESS Inc and Stem – have seen their share prices fall by an average of 80% since going public.
Energy Vault and Kore Power have announced a master supply agreement (MSA) which will see Kore supply 1.3GWh of US-made batteries in 2025, potentially rising to 7GWh by 2027.
Energy Vault has secured a US licensing deal for its gravity energy storage technology and awards covering its other technologies there and in Southeast Asia, it said in its Q2 results.
Energy-Storage.news caught up with Energy Vault CEO Robert Piconi to primarily discuss its gravity-based energy storage solution which, putting it mildly, has its fair share of sceptics.
Energy Vault will reveal new form factors to its EVx gravity-based energy storage solution which could deliver the “lowest cost of energy storage in the world”, CEO Robert Piconi claimed to Energy-Storage.news.
