A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed.
Special purpose acquisition company (SPAC) Novus Capital Corporation II chose to merge with novel gravity and kinetic energy-based storage Energy Vault after receiving target proposals from more than 100 different firms.
Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round.
Two startups seeking to disrupt the energy sector with novel long-duration energy storage technologies have formed partnerships with established industry players.
