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.

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.