What is Energy Vault?

Energy Vault is a global energy storage company specializing in gravity and kinetic energy based, long-duration energy storage products. Energy Vault's primary product is a gravity battery to store energy by stacking heavy blocks made of composite material into a structure, capturing potential energy in the elevation gain of the blocks.

Who is Energy Vault Research & Development Center?

2020 The Energy Vault Research and Development Center was founded in 2019. Energy Vault established Arbedo-Castione, Switzerland, as the premier research hub for research and development of the company's proprietary EVx™ Gravity Energy Storage System (GESS) technology and the supporting Energy Management System (EMS) solutions software.

Who owns Energy Vault?

In 2020, Energy Vault was Named Technology Pioneer by World Economic Forum and completed the mechanical construction of the first of its kind, grid-scale testing tower in Castione-Arbedo, Ticino, Switzerland. In 2021, Energy Vault announced investments from Saudi Aramco Energy, and other existing investors.

Could energy vault's concrete tower be the missing link?

In the short and medium term Energy Vault’s concrete tower could be the missing link in the chain – able to ensure constant power supply from renewable resources and show the way to an economy with low carbon emissions.

How did Energy Vault get funding?

In 2019, Energy Vault secured funding from Cemex before going on to secure $110m of Series B funding to become the first energy storage investment of the SoftBank Vision Fund, and won Fast Company's World Changing Idea Award for transformative utility-scale energy storage.

What is a Ticino Electricity storage battery?

The solution proposed by the Ticino start-up is an electricity storage battery consisting of blocks of concrete that weigh 35 tonnes each and a six-arm crane with a novel design.