Energy Vault Holdings, Inc. ("Energy Vault") (NYSE:NRGV), a global energy storage company today announced that it received notice from the New York Stock Exchange (the "NYSE") on April 16, 2025, indicating that Energy Vault is not in compliance with NYSE's continued listing standards because the average closing price of Energy Vault's common stock was less than $1.00 over a consecutive 30 trading-day period. Under NYSE rules, Energy Vault has a period of six months from receipt of the notice to regain compliance with the NYSE minimum stock price listing requirement. Energy Vault plans to notify the NYSE by May 1, 2025 of its intent to cure the stock price deficiency and return to complianc

Hixon brings extensive Board of Directors and industry experience as a longtime investor focused on transformative technologies Hixon to replace Bill Gross as an independent Director, with Gross transitioning to an advisory role focused on applications of gravity energy storage technology to high growth data center segments 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 Dylan Hixon to the Company's Board of Directors effective March 31, 2025. He replaces Energy Vault's co-founder, Bill Gross, who will resign from the Board and transition to the role of Advisor. This

Initial 500MWh capacity of ~$100 million to be delivered under equipment contracts by Energy Vault over the next 12 months during the local Indian manufacturing build out, and expected to ramp over the next 10 years to 30-40+ GWh SPML Infra, one of India's largest and longest running urban infrastructure developers of water treatment, solid waste management and clean energy assets, perfectly positioned to minimize import tariffs with local manufacturing capabilities and to manufacture and deploy Energy Vault's B-VAULT™ battery energy storage system (BESS) technology, along with VaultOS™ energy storage management (EMS) software Agreement will have positive revenue, gross margin and cash im

$28 million project financing, inclusive of the completed sale of the Investment Tax Credit associated with the project, returns cash back to Energy Vault's balance sheet for the first resiliency center deployed in California (Calistoga) for PG&E to reduce wildfire risk and manage Public Safety Power Shutoff (PSPS) events This strategic financing is the first of other project financings underway and demonstrates successful execution of Company's ‘Own & Operate' strategy outlined during May 2024 Investor and Analyst Day Binding commitments have also been executed for Investment Tax Credits associated with two additional projects owned by Energy Vault nearing COD in Texas which are expected

Contract Revenue backlog increased 90% to $660 million from prior quarter of $350 million, more than quadrupling on a year-over-year basis, reflecting strength in Australia and new US IPP and utility customers and acceleration of asset ownership with long-term offtake agreements Strong growth in Australia in executing on over 2.6 GWh of projects, including the recently announced agreement to acquire the 1.0GWh Stoney Creek BESS from Enervest in New South Wales Developed Pipeline of $2.1 billion remains robust inclusive downward adjustments for prevailing battery prices, tariffs, foreign exchange rates revenue converting into backlog Q4 2024 revenue of $33.5 million principally associated

The 125 MW / 1,000 MWh Stoney Creek Battery Energy Storage System (BESS) is supported by a 14 year Long Term Energy Services Agreement (LTESA) as previously announced, adding a contracted long duration energy storage asset to Energy Vault's balance sheet for predictable, long term revenue streams The Stoney Creek BESS complements Energy Vaults' growing number of energy storage projects under execution across Eastern Australia, currently executing on over 2.6 GWh of energy storage projects Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced that it has executed an agreement to acquire the 125 MW / 1,000 MWh

Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or "the Company"), a leader in sustainable grid-scale energy storage solutions, today announced it has rescheduled its previously announced earnings conference call on March 11, 2025 to Monday, March 17, 2025 at 4:30pm ET, to coincide with the filing of its Annual Report on Form 10-K the same day. 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 conclus

LTESA award secures up to 14 years of project revenue support to complement the expected project merchant revenues Previously announced 1 GWh and AUD $350 million (~USD $220 million) BESS energy storage system confirmed as 8-hour duration, making it one of the first and largest long duration BESS systems announced in New South Wales (NSW) The Stoney Creek BESS, submitted via a joint Enervest-Energy Vault Consortium bid, will provide large-scale dispatchable energy storage to balance renewable generation, enhance grid stability, and support New South Wales decarbonization targets As outlined in the May 2024 Investor and Analyst Day, the LTESA award demonstrates successful regional expansi

Start of construction marks a major milestone for Energy Vault as the company begins its first mobilization of a Battery Energy Storage System (BESS) in the Australian market Energy Vault, ACEN Australia joined by local officials and Anaiwan First Nations leaders for welcome ceremony at New England Solar in New South Wales Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced the start of construction of a 200 MW/2 hour battery energy storage system being deployed at ACEN Australia's New England Solar project. Energy Vault leaders were joined by representatives from ACEN Australia, elected officials and lo

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 fourth quarter and full year ended December 31, 2024 on Tuesday, March 11, 2025 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

Hixon brings extensive Board of Directors and industry experience as a longtime investor focused on transformative technologies Hixon to replace Bill Gross as an independent Director, with Gross transitioning to an advisory role focused on applications of gravity energy storage technology to high growth data center segments 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 Dylan Hixon to the Company's Board of Directors effective March 31, 2025. He replaces Energy Vault's co-founder, Bill Gross, who will resign from the Board and transition to the role of Advisor. This

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

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

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

Ms. Unwin brings extensive industry experience and leadership from executive roles at leading energy and renewables companies, including Horizon Power and Zenith Energy 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 Stephanie Unwin to the Company's Board of Directors effective with Energy Vault's next quarterly Board meeting in March 2024. She replaces Zia Huque, General Partner of Prime Movers Lab LLC which led Energy Vault's Series C investment round. Mr. Huque's departure will be concurrent with Ms. Unwin's joining of the Board. This press release features multim

Colson brings over two decades of experience in the energy capital markets on both the buy and sell-side Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable grid-scale energy storage solutions, announced the appointment of Bernie Colson, CFA as Vice President of Investor Relations. With over two decades of experience in the energy capital markets, Mr. Colson joins Energy Vault as a seasoned energy professional to steer the company's financial communication strategy as well as maintain and expand relationships with the investor and analyst communities. Prior to joining Energy Vault, Mr. Colson held various key positions in the energy sector.

Fariello brings decades of experience and leadership in government affairs at FORTUNE 500 companies, including United Airlines and ExxonMobil 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 Theresa Fariello to the Company's Board of Directors effective February 1, 2023. She replaces Henry Elkus, Founder and CEO of Helena, a strategic partner and Series B-1 investor in Energy Vault, upon his concurrent departure from the Board. Ms. Fariello has served as Senior Vice President of Government Affairs & Global Public Policy for United Airlines (NASDAQ:UAL) since 2017. In t

Jan Kees van Gaalen is a seasoned finance executive with more than 30 years of experience in the energy and mining industries Energy Vault Holdings, Inc. (NYSE:NRGV, NRGV WS))) ("Energy Vault") (the "Company"), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Jan Kees van Gaalen as Chief Financial Officer. Mr. van Gaalen will replace David Hitchcock, who has served as interim-Chief Financial Officer since April 2022. The appointment as CFO is effective November 16, 2022. Mr. Hitchcock will remain as an advisor to Energy Vault through December 31, 2022. "I am pleased to welcome Jan Kees, a highly accomplished global CFO, who has served in that

Jensen to lead global deployments of gravity and battery energy storage solutions, bringing over three decades of power industry engineering, construction, commissioning and project management experience 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 E.B. Jensen as Senior Vice President of Project Execution and Delivery. The appointment is effective immediately and Jensen will report to Robert A. Piconi, Chairman and Chief Executive Officer. In this new role, Jensen will be responsible for the project execution and delivery of gravity and battery energy storage proje

Dr. Horne possesses more than 30 years of domestic and international experience managing the development and commercialization of advanced energy storage systems Dr. Horne to accelerate Energy Vault's development of complementary energy storage solutions to Energy Vault's existing technologies portfolio Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced the appointment of Craig Horne, Ph.D., as Vice President, Advanced Energy Storage Development. Dr. Horne will be based in Energy Vault's U.S. headquarters in Westlake Village, Calif. This press release features multimedia. View the full release here: https

Initial 500MWh capacity of ~$100 million to be delivered under equipment contracts by Energy Vault over the next 12 months during the local Indian manufacturing build out, and expected to ramp over the next 10 years to 30-40+ GWh SPML Infra, one of India's largest and longest running urban infrastructure developers of water treatment, solid waste management and clean energy assets, perfectly positioned to minimize import tariffs with local manufacturing capabilities and to manufacture and deploy Energy Vault's B-VAULT™ battery energy storage system (BESS) technology, along with VaultOS™ energy storage management (EMS) software Agreement will have positive revenue, gross margin and cash im

Contract Revenue backlog increased 90% to $660 million from prior quarter of $350 million, more than quadrupling on a year-over-year basis, reflecting strength in Australia and new US IPP and utility customers and acceleration of asset ownership with long-term offtake agreements Strong growth in Australia in executing on over 2.6 GWh of projects, including the recently announced agreement to acquire the 1.0GWh Stoney Creek BESS from Enervest in New South Wales Developed Pipeline of $2.1 billion remains robust inclusive downward adjustments for prevailing battery prices, tariffs, foreign exchange rates revenue converting into backlog Q4 2024 revenue of $33.5 million principally associated

The 125 MW / 1,000 MWh Stoney Creek Battery Energy Storage System (BESS) is supported by a 14 year Long Term Energy Services Agreement (LTESA) as previously announced, adding a contracted long duration energy storage asset to Energy Vault's balance sheet for predictable, long term revenue streams The Stoney Creek BESS complements Energy Vaults' growing number of energy storage projects under execution across Eastern Australia, currently executing on over 2.6 GWh of energy storage projects Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced that it has executed an agreement to acquire the 125 MW / 1,000 MWh

Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or "the Company"), a leader in sustainable grid-scale energy storage solutions, today announced it has rescheduled its previously announced earnings conference call on March 11, 2025 to Monday, March 17, 2025 at 4:30pm ET, to coincide with the filing of its Annual Report on Form 10-K the same day. 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 conclus

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 fourth quarter and full year ended December 31, 2024 on Tuesday, March 11, 2025 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

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

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

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

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 second quarter ended June 30, 2024 on Tuesday, August 6, 2024 followed by a conference call at 4:30 PM ET. Participants may access the call at 1-844-826-3033, international callers may use 1-412-317-5185, 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 Tuesday,

Revenue of $7.8 million from recognition of Utility and IPP storage projects, in-line with expectations; Licensing revenue from GESSOL in Southern Africa is expected later in 2024 GAAP Gross Margin of 26.7% driven by strong management and execution on US battery projects Cash OpEx of $16.7 million, improved 22% year-over-year and 14% quarter-over-quarter Quarter-end Cash and Cash Equivalents of $136.8 million, within Q1 guidance range of $125 – 150 million Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or "the Company"), a leader in sustainable, grid-scale energy storage solutions, announced financial results for the first quarter ended March 31, 2024. "In the first quart

TD Cowen reiterated coverage of Energy Vault with a rating of Buy and set a new price target of $2.00 from $2.50 previously

Chardan Capital Markets downgraded Energy Vault from Buy to Sell

TD Cowen reiterated coverage of Energy Vault with a rating of Outperform and set a new price target of $5.00 from $6.00 previously

ROTH MKM initiated coverage of Energy Vault with a rating of Buy and set a new price target of $4.00

Guggenheim downgraded Energy Vault from Buy to Neutral

Chardan Capital Markets initiated coverage of Energy Vault with a rating of Buy and set a new price target of $13.00

Guggenheim initiated coverage of Energy Vault with a rating of Buy and set a new price target of $22.00

Goldman initiated coverage of Energy Vault with a rating of Sell and set a new price target of $9.00

Stifel initiated coverage of Energy Vault Holdings with a rating of Buy and set a new price target of $19.00

Cowen & Co. initiated coverage of Energy Vault Holdings with a rating of Outperform and set a new price target of $18.00

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