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.

News from around the world in energy storage.

The Long Duration Energy Storage Council, the organisation formed last year to push for the global deployment of eight-hour-plus duration storage technologies, has elected its first board of directors.

NTPC, a state-owned power producer and utility company in India, has signed a Memorandum of Understanding with Energy Vault.

Energy Vault has got its New York Stock Exchange (NYSE) listing after the gravity-based energy storage company’s merger with special purpose acquisition company (SPAC) Novus Capital Corporation II completed. 

An eight-hour duration lithium-ion battery project was recently selected as a long-duration energy storage resource by a group of energy suppliers in California. Girish Balachandran, CEO of Silicon Valley Clean Energy, tells us about the deal and what it signifies.

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. 

The EU’s European Investment Bank has pledged support for a long-duration thermal energy storage project and a gravity-based energy storage demonstration project.