Energy Vault makes debut on New York Stock Exchange

Rendered image of Energy Vault technology in front of scenic mountains and wind turbines (energy vault jupiter)
Image: Energy Vault

Gravity energy storage developer Energy Vault Holdings Inc has made its debut on the New York Stock Exchange following the completion of its business combination with Novus Capital Corporation II.

Energy Vault CEO Robert Piconi said, “We are pleased to begin this exciting new chapter in Energy Vault’s history as we transition to a public company.

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“The proceeds enabled by this transaction, coupled with the additional strategic partnerships we have signed with some of the largest energy and industrial leaders across the globe provide a significant runway for us to drive shareholder value and execute against our growth strategy.

“I would like to thank all our employees, partners and investors for their support in advancing our mission of decarbonisation to enable a renewable world.”

Energy Vault develops sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage for grid resiliency.

The company’s proprietary, gravity-based energy storage technology and the energy storage management and integration platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelised cost of energy while maintaining power reliability.

Utilising eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers.

Related article: Energy Vault in $50m Chinese gravity storage tech deal

Following investment and energy storage collaboration announcements in 2021 from industry leaders Saudi Aramco Energy Ventures and Enel Green Power, including joint development for the remediation and beneficial reuse of waste wind blade fibreglass with Enel, Energy Vault continued its global commercial progress and market strategy with a strategic alliance with Korea Zinc Co, joint collaboration with BHP, and an energy storage system agreement with DG Fuels LLC.

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