Energy Vault And Skidmore, Owings & Merrill Announce Exclusive Global Gravity Energy Storage Partnership

5/30/24 8:16:15 AM ET

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Energy Vault is partnering with leading architecture and engineering firm SOM to design the future of sustainable building architectures that enable accelerated carbon paybacks for the first time

Energy Vault recently unveiled next generation of G-VAULT™ gravity energy storage solutions, including EVu™, EVc™, EVy™, and EV0™

Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, and Skidmore, Owings & Merrill (SOM), a leading architecture and engineering firm, today announced a global exclusive gravity energy storage partnership.

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Recent Analyst Ratings for
$NRGV

Date	Price Target	Rating	Analyst
4/8/2024		Buy → Sell	Chardan Capital Markets
3/13/2024	$6.00 → $5.00	Outperform	TD Cowen
1/16/2024	$4.00	Buy	ROTH MKM
3/6/2023		Buy → Neutral	Guggenheim
6/29/2022	$13.00	Buy	Chardan Capital Markets
3/22/2022	$22.00	Buy	Guggenheim
3/14/2022	$9.00	Sell	Goldman
3/9/2022	$19.00	Buy	Stifel

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Energy Vault Reports Third Quarter 2024 Financial Results
Revenue backlog grew 33% quarter-over-quarter to $350 million primarily reflecting new contracts in the U.S. with Jupiter Power and Gridmatic; Australia project awards now exceed 2.6GWh Transitional Q3 2024 revenue yielded 40%+ GAAP gross margin with higher services and software content; YTD 2024 GAAP Gross Margins are 28.3% Operating expense improved to $27.6 million in Q3 2024; Adjusted operating expense improved 13% year-over-year and 7% quarter-over-quarter to $15.2 million reflecting prior organizational realignment in Q2 2024 Commenced project financing for PG&E California long duration green hydrogen and Texas short duration storage projects, expected to bring $60-80 million of
11/12/24 4:05:00 PM ET
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Energy Vault Schedules Conference Call to Discuss Third Quarter 2024 Financial Results
Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or "the Company"), a leader in sustainable grid-scale energy storage solutions, announced today that the Company will release its earnings results for the third quarter ended September 30, 2024 on Tuesday, November 12, 2024 followed by a conference call at 4:30 PM ET. Participants may access the call at 1-877-704-4453, international callers may use 1-201-389-0920, and request to join the Energy Vault Holdings earnings call. A live webcast will also be available at https://investors.energyvault.com/events-and-presentations/events. A telephonic replay of the call will be available shortly after the conclusion of the call and until Tues
10/10/24 8:00:00 AM ET
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Energy Vault Reports Second Quarter 2024 Financial Results
Announced new 400MWh battery storage project in Australia with ACEN, hired new Head of Global Sales and entered partnership with structural engineering firm Skidmore Owings & Merrill (SOM) to integrate gravity energy storage within superstructure building design Q2 GAAP Gross margin of 27.8% driven by strong management and execution on U.S. battery projects Q2 GAAP Net Loss of $(26.2) million; Q2 Adjusted EBITDA improved $2.3 million or 12% year-over-year to $(15.8) million Q2 GAAP Operating Expenses of $28.1 million; Q2 Adjusted Operating Expenses of $16.9 million, improved 23% year-over-year Q2 results include a $1.7 million charge associated with previously announced organization
8/6/24 4:05:00 PM ET
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Energy Vault Reports Third Quarter 2024 Financial Results
Revenue backlog grew 33% quarter-over-quarter to $350 million primarily reflecting new contracts in the U.S. with Jupiter Power and Gridmatic; Australia project awards now exceed 2.6GWh Transitional Q3 2024 revenue yielded 40%+ GAAP gross margin with higher services and software content; YTD 2024 GAAP Gross Margins are 28.3% Operating expense improved to $27.6 million in Q3 2024; Adjusted operating expense improved 13% year-over-year and 7% quarter-over-quarter to $15.2 million reflecting prior organizational realignment in Q2 2024 Commenced project financing for PG&E California long duration green hydrogen and Texas short duration storage projects, expected to bring $60-80 million of
11/12/24 4:05:00 PM ET
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Energy Vault Announces FID Approval for 57 MW Cross Trails Battery Energy Storage System in Texas and 10-Year Offtake Agreement with Gridmatic
Cross Trails BESS to provide energy and ancillary services to support renewable energy production and improve grid resiliency in the Electric Reliability Council of Texas (ERCOT) region Upcoming deployment demonstrates Energy Vault's execution on its growth strategy to maximize capital efficiency and profitability in building, owning and operating energy storage infrastructure Energy Vault Holdings Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable, grid-scale energy storage solutions, today announced plans for the deployment of a 57 MW/114 MWh Battery Energy Storage System (BESS) in Scurry County, Texas, as well as the signing of a 10-year offtake agreement with
11/8/24 8:30:00 AM ET
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Energy Vault Announces Compliance with NYSE Continued Listing Criteria
Energy Vault Holdings Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable, grid-scale energy storage solutions, today announced that it received written notice from the New York Stock Exchange (the "NYSE") stating that the Company regained compliance with the minimum continued listing criteria set forth in Section 802.01C of the NYSE Listed Company Manual, based upon an average share price for the trailing 30-consecutive trading days above $1.00 on October 31, 2024. About Energy Vault Energy Vault® develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offering
11/4/24 7:30:00 AM ET
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Energy Vault Announces Progress on Growth Initiatives, Diversified Storage Portfolio and Hiring of New Global Head of Sales
Energy Vault has realigned its organization to accelerate growth and market adoption of its diversified portfolio of energy storage solutions across all durations, enhancing and streamlining go-to-market strategy while rapidly expanding its regional operations in Australia Executed on a series of cost savings measures that will result in annualized savings of $6 - 8 million; The Company is reiterating its target of quarterly cash operating expenses of roughly $15 million in the second half of 2024 Bolstered growth strategy with the addition of Wes Fuller, seasoned energy storage sales executive, as Head of Global Sales Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Co
7/25/24 8:00:00 AM ET
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Energy Vault Executes EPC and O&M Contract with ACEN Australia for 200 MW/400 MWh of Battery Energy Storage Deployments
ACEN Australia and Energy Vault to begin deployment of two battery energy storage systems (BESS), with a total capacity of 200 MW/400 MWh, at ACEN Australia's 720 MW New England Solar project The project will be built using the most advanced grid-forming inverter technology which can provide system stability services that coal, hydro and gas generators currently provide Grid-forming inverters will be integrated with Energy Vault B-Vault DC block, managed by the Vault-OS energy management system Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced the execution of a contract with ACEN Australia for the p
6/3/24 8:30:00 AM ET
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Energy Vault Appoints Michael Beer as Chief Financial Officer
Seasoned financial executive to bring decades of experience in the energy, tech and transportation sectors to leading global energy storage company Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Michael Beer as Chief Financial Officer. Beer will replace Jan Kees van Gaalen, who has served in the role since November 2022 and plans to retire. The appointment is effective April 15, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404851008/en/Energy Vault Appoints Michael Beer as Chief Financial Offic
4/4/24 8:00:00 AM ET
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Energy Vault And Skidmore, Owings & Merrill Announce Exclusive Global Gravity Energy Storage Partnership

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Chief Executive Officer Piconi Robert bought $260,190 worth of shares (300,000 units at $0.87), increasing direct ownership by 2% to 17,476,220 units (SEC Form 4)

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Energy Vault Executes EPC And O&M Contract With ACEN Australia For 200 MW/400 MWh Of Battery Energy Storage Deployments