Energy storage developer and system integrator Energy Vault has released its Q3 2025 financial results, showing growth credited to expanding projects in Australia and its ‘Asset Vault’ subsidiary.
Australian startup Green Gravity has secured AU$9 million in Series A capital funding to complete product development of its gravity-based energy storage technology.
Energy Vault has entered into an exclusive partnership with architecture firm Skidmore, Owings & Merrill (SOM) to work on projects using its gravity energy storage technology.
Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.
Energy-Storage.news caught up with Energy Vault CEO Robert Piconi to primarily discuss its gravity-based energy storage solution which, putting it mildly, has its fair share of sceptics.
Energy Vault will reveal new form factors to its EVx gravity-based energy storage solution which could deliver the “lowest cost of energy storage in the world”, CEO Robert Piconi claimed to Energy-Storage.news.
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%.
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.
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.
