Energy Vault Wins Big With Gravity Storage In China
Energy Vault will license six additional EVx gravity energy storage systems in China just months after starting work on the world’s first GESS facility near Shanghai.
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Energy Vault will license six additional EVx gravity energy storage systems in China just months after starting work on the world’s first GESS facility near Shanghai.
Energy Vault Holdings Inc. NYSE NRGV Energy Vault or the Company a leader in sustainable gridscale energy storage solutions today announced that five new EVx gravity energy storage systems GESS will be deployed by China Tianying Inc. CNTY CN 000035 under the Companys previously announced licensing and royalty agreement with Atlas Renewable which includes a 5 project revenue royalty associated with each project.
China Tianying's recently announced projects bring planned EVx deployments in China to seven, totaling 3.26 GWh, or $1+ billion in project scope Additional EVx projects confirm the strategic value of the gravity
Gravity-based, long duration energy storage technology of Swiss company Energy Vault gains major new investor and foothold in massive China market.
First gravity-based storage agreement between a U.S. and Chinese company to support China's stated goals of Carbon Peak by 2030 and Carbon Neutrality by 2060 $50 million new investment subscription