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.

Battery OEM Rept Battero, part of metals firm Tsingshan Industry, has tied up with Energy Vault a few weeks after it agreed a smaller deal with Powin.

Energy Vault secured 2.8GWh of project orders in the first quarter of 2023 and revealed that it has invested in Kore Power, the US lithium-ion battery and BESS firm, though booked revenues fell 75%.

A ‘first of its kind’ microgrid will be installed at a California substation, where it will use a combination of lithium-ion batteries and green hydrogen to provide 48 hours of back up.

Gravitricity has partnered with firms in the US and Germany to deploy its gravity energy storage solution while Energy Vault has provided an update on its China project.

Energy Vault has confirmed its increased guidance for 2022, posting US$146 million in revenue of which two-thirds came in Q4.

Energy Vault is expecting full-year revenue for 2022 of US$142-152 million, ahead of previous guidance of US$75-100 million.

California utility PG&E is developing a long-duration energy storage microgrid combining batteries and green hydrogen, in partnership with Energy Vault, the company known for its gravity-based solution.

Berkshire Hathaway-owned NV Energy has been revealed as the ‘large western utility’ that has ordered a 220MW/440MWh battery energy storage system (BESS) from Energy Vault.