EnergyVault

Energy Vault (NYSE: NRGV) is a global leader in grid-scale energy storage solutions, founded in 2017 in Idealab's startup studio and headquartered in Westlake Village, California. The company pioneered a novel gravity-based energy storage system - the G-Vault™ - which stores energy by lifting massive composite blocks (weighing up to 35 metric tons each) to height using electric motors, then recovers that energy as electricity by lowering the blocks through generators when demand is high. This approach offers a long-duration storage alternative to lithium-ion batteries with a round-trip efficiency of approximately 75-80% and no chemical degradation over time. Beyond gravity storage, Energy Vault has diversified into a comprehensive technology portfolio that includes its B-Nest™ modular battery energy storage systems (BESS), hybrid hydrogen fuel cell solutions, and its proprietary VaultOS™ energy management software platform - positioning it as the only company in the market offering customized short, long, and ultra-long duration storage in one integrated suite.

Energy Vault's significance to the US energy supply chain lies in its ability to bridge the intermittency gap in renewable energy at grid scale, enabling utilities, independent power producers, and large industrial energy users to store and dispatch clean energy reliably and cost-effectively. Its technology-agnostic approach and AI-powered software allow operators to optimize dispatch across diverse asset types. Since 2024, the company has executed an "Own & Operate" asset management strategy to generate predictable, recurring tolling revenue streams from its growing infrastructure portfolio, including a 175 MW BESS project in Texas and strategic agreements for AI compute infrastructure power. The company achieved positive adjusted EBITDA in Q4 2025 and reported strong full-year 2025 results, reflecting accelerating demand for grid-scale storage in a rapidly evolving US and global energy market.

Energy Vault went public in February 2022 via a SPAC merger with Novus Capital Corporation II, raising approximately $235 million in gross proceeds. Prior to that, it attracted high-profile institutional backers including SoftBank Vision Fund (its first-ever energy storage investment) and Saudi Aramco Energy Ventures, and strategic partner Cemex. In 2026, it closed a $150 million convertible senior notes offering to strengthen its balance sheet and fund continued expansion - including a landmark acquisition of an 850 MW energy storage portfolio in Japan from BayWa r.e. AG and a strategic development agreement with South Africa's Eskom for gravity-based long-duration storage deployment.