Energy Vault Closes $18 Million Project Financing for 57 MW/114 MWh Cross Trails BESS Serving the Texas ERCOT MarketShare

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Energy Vault | 24 July 2025

$18 million project financing continues quarterly string of returning cash back to Energy Vault’s balance sheet following prior year equity investments in new “Owned and Operate” assets

The Cross Trails BESS, completed and brought to full commercial operation in June 2025, is supported by a 10 year off-take agreement with Gridmatic

An additional $12+ million in Federal Investment Tax Credit-related funds are expected to be received later this quarter via a previously executed ITC sale agreement
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