Gravity-based energy storage company Energy Vault expects US$680 million in combined revenue over 2022 and 2023, it claimed in its recent quarterly results.

News from around the world in energy storage.

NTPC, a state-owned power producer and utility company in India, has signed a Memorandum of Understanding with Energy Vault.

Energy Vault has got its New York Stock Exchange (NYSE) listing after the gravity-based energy storage company’s merger with special purpose acquisition company (SPAC) Novus Capital Corporation II completed. 

A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed. 

Special purpose acquisition company (SPAC) Novus Capital Corporation II chose to merge with novel gravity and kinetic energy-based storage Energy Vault after receiving target proposals from more than 100 different firms. 

News in brief from around the world in energy storage.

Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round. 

Two startups seeking to disrupt the energy sector with novel long-duration energy storage technologies have formed partnerships with established industry players.

Nidec ASI has been announced as a supplier to energy storage start-up Energy Vault, providing motors and inverters to the company.