Grid-scale energy storage solutions company Energy Vault has signed a licensing and royalty agreement with a South African consortium, established with the aim of deploying the NYSE-listed company’s gravity energy storage systems across the 16 countries that make up the Southern African Development Community (SADC) bloc.
The agreement is with Gravity Energy Storage Solutions (GESSOL), an entity comprising JSE-listed construction group WBHO, iX Engineers, and Sizana Solutions, which has been partnering with Energy Vault in Southern Africa since 2019.
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Energy Vault expands its global footprint for gravity energy storage with license covering South Africa