What is Energy Vault?

Energy Vault actively works with the largest utilities and energy companies in the world to optimize our energy storage platform to improve flexibility and address our customers’ evolving duration needs for both higher power and custom duration storage requirements.

Why is Energy Vault Better than other storage solutions?

Energy Vault outperforms existing storage solutions – most notably chemical batteries – due to its high efficiency (80% to 90% round trip), lack of system degradation and long operational life. Energy Vault presents a better and more sustainable solution with lower initial capex and levelized cost per kWh price.

Why should you choose Energy Vault?

Energy Vault’s designs are proven and ready for market. The units are cost competitive with chemical batteries and easily scalable. What’s more, Energy Vault’s technology leverages waste material remediation to provide additional environmental benefits beyond any other storage technology.

Will Energy Vault Go Public?

Energy Vault is a game-changer in our green energy transition and Prime Movers Lab is delighted to support the company in scaling the deployment of its technology.” On September 9th, 2021, Energy Vault announced it will go public via a special-purpose acquisition merger that initially values the company at $1.6 billion.

Will Energy Vault go public in 2021?

On September 9th, 2021, Energy Vault announced it will go public via a special-purpose acquisition merger that initially values the company at $1.6 billion. The merger combines Energy Vault with Novus Capital Corporation II. Upon closing, the combined company will be named Energy Vault Holdings, Inc.

How much money will Novus II receive from Energy Vault?

The transaction is expected to additionally provide up to $388 million in gross cash proceeds to Energy Vault Holdings, Inc. As part of the transaction, Novus II received commitments for a $100 million common stock PIPE, which will be used (among other uses) to fund the combined company’s growth strategy.