Energy Vault Holdings, Inc.

Energy Vault Holdings, Inc. delivers a diversified portfolio of energy storage solutions to third parties. The company offers proprietary gravity, battery, and green hydrogen-based technologies, supported by its technology-agnostic energy management software and integration capabilities. Beginning in 2024, Energy Vault initiated a multi-year transition from primarily delivering projects through build-and-transfer arrangements and licensing models toward a more integrated model. This integrated model includes selectively developing, owning, and operating energy storage assets, while continuing to provide technology, integration, software, and long-term services to customers. Through this model, Energy Vault offers utilities, independent power producers, and large energy users solutions such as standalone energy storage, integrated generation and storage configurations, and related power infrastructure. The company manages projects across the lifecycle, from sourcing and development through permitting and interconnection, engineering and construction management, commissioning, and operations. It also provides software-enabled monitoring, controls, and services to support asset availability, operational efficiency, and lifecycle performance. In 2025, Energy Vault advanced its "Own & Operate" strategy by placing its first two owned energy storage systems into commercial operation. Through its Asset Vault platform, launched in 2025 with a $300 million preferred equity commitment from Orion Infrastructure Capital and affiliated funds, the company is pursuing a targeted deployment of approximately 1.5 GW of energy storage capacity across the U.S., Australia, and Europe. In May 2025, the Cross Trails Battery Energy Storage System in Snyder, Texas achieved commercial operation, marking the first asset placed in service under this strategy.