At look at the fortunes, prospects and claims made by three energy storage technology firms that joined the SPAC-driven public listing wave.

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.

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.