Energy Vault Subsidiaries Secure $137.5M Term Loan for Power Generation Equipment
NRGV has more than doubled off its 52-week low of $1.4.
Summary
Energy Vault's subsidiaries secured a $137.5 million term loan from Jefferies to fund power generation equipment purchases, with interest rates starting at SOFR + 6.75% and maturing in January 2028.
Key Events · Financing and Capital Events · NRGV
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$137.5M Term Loan Facility
Subsidiaries EV Gen Set 1, LLC and EV Gen Set I HoldCo, LLC entered into a senior secured term loan facility with Jefferies Capital Services as lender, providing up to $137.5 million in delayed draw commitments.
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Equipment Financing Purpose
Proceeds will fund the purchase of power generation equipment and related installation services under an Equipment Supply Agreement, supporting Energy Vault's AI data center power infrastructure projects.
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Interest Rates and Maturity
Loans bear interest at SOFR + 6.75% through December 31, 2026, increasing to SOFR + 7.50% thereafter. The facility matures on January 2, 2028.
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Collateral and Guarantees
Obligations are guaranteed by Holdings and secured by a first priority security interest in substantially all assets of Borrower and Holdings, including contract rights under the Equipment Supply Agreement.
Analysis · NRGV · Manufacturing
A $137.5 million senior secured term loan facility with Jefferies Capital Services will fund the purchase of power generation equipment for Energy Vault's subsidiaries. The loan carries interest rates of SOFR + 6.75% through 2026, rising to SOFR + 7.50% thereafter, and matures in January 2028. Substantially all assets of the borrowing subsidiaries, including the equipment supply contract, secure the facility. This financing supports the company's expansion into AI data center power infrastructure, following its recent 1.25 GW hyperscaler agreement. The debt adds leverage but provides capital for equipment purchases without immediate equity dilution.
At the time of this filing, NRGV was trading at $3.68 on NYSE in the Manufacturing sector, with a market capitalization of approximately $680.1M. The 52-week trading range was $1.40 to $6.65. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.