Energy Vault Raises $300 Million to Launch New Energy Storage
Alongside the launch of the new platform, Energy Vault announced the completion of its acquisition of the Stoney Creek Battery Energy Storage System (BESS) in New South
Alongside the launch of the new platform, Energy Vault announced the completion of its acquisition of the Stoney Creek Battery Energy Storage System (BESS) in New South Wales, Australia, following Foreign Investment Review Board (FIRB) approval.
Grid-scale energy storage solutions provider Energy Vault announced that it has entered into an agreement for a $300 million preferred equity investment, aimed at funding the launch of Asset Vault, a new subsidiary that will build, own and operate energy storage assets across global markets.
The battery storage system integration business of Hitachi Energy was also well-experienced with island microgrids, which have been a proving ground for grid-forming applications, the CEO said, making the combination of areas of expertise a suitable one. “I see that happening also in countries like Spain.
Battery energy storage systems (BESS), which enable utility companies and grid operators to access pools of surplus renewable energy on demand that would otherwise be wasted, play a central role in the global energy transition.
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