Energy Vault Announces China State Grid Interconnection of First EVx 100 MWh Gravity Energy Storage System - Financial Times

Energy Vault | 5 March 2024

Rudong 25 MW/100 MWh EVx system became fully interconnected to the local state utility grid in December 2023 as planned, enabling full commissioning, inverse power and operational activity powered by the State Grid

A second EVx system in Zhangye City, Gansu Province, started in Q2 2023 has completed foundation work and initial four floors of construction above ground

Both the Rudong and Zhangye EVx Gravity Storage Systems have been formally designated and recognized as “new energy storage pilot demonstration projects” by China’s National Energy Administration (NEA) in their formal announcements last month

Combined with Rudong EVx, 468 MWh of the total announced 3.7 GWh of Energy Vault’s EVx gravity energy storage systems (GESS) are now under construction in China, the world’s largest and fastest growing energy storage market

Construction of 17 MW/68 MWh EVx located in Zhangye City, Gansu Province, 50 MW/200 MWh EVx located in Ziuquan City, Jinta County, Gansu Province, and 25MW/100MWh EVx located in Huailai Cunrui Town, Zhangjiakou County, Hebei Province began in 2023

Nine EVx GESS deployments now underway in China totaling 3.7 GWh, each of which will generate future project revenue royalty streams to Energy Vault as systems are built and commissioned

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Feb. 29, 2024-- Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage solutions, today confirmed that China state grid interconnection and inverse power operation was achieved for the Rudong EVx system in December 2023 while construction has commenced on three additional grid-scale EVx™ gravity energy storage system (GESS) deployments in China. Energy Vault's partners, China Tianying (CNTY) and Atlas Renewable, now have nine EVx GESS deployments underway in China totaling 3.7 GWh, each of which will generate future project revenue royalties for Energy Vault.

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