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

The global need for grid-scale energy storage will rise rapidly in the coming years as the transition away from fossil fuels accelerates.

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

A UK company has received funding to explore potential sites in India for demonstration of its proprietary gravity energy storage technology.

Energy Vault has provided a dizzying variety of updates in its Q3 results, covering European battery storage, a green hydrogen system, a new CFO and its gravity-based energy storage deployments in the US and China.

Gravity energy storage company Energy Vault’s battery storage division has been contracted to work on a 250MW two-hour duration project at a solar PV plant in Victoria, Australia.

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.

Gravity-based energy storage company Energy Vault is to immediately begin deploying a previously-announced 275MWh battery storage system project in California for Wellhead Electric and W Power.

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.

Energy Vault added US$191 million to existing cash reserves when it listed on the New York Stock Exchange.