Energy Vault Announces China State Grid Interconnection Of First Evx 100 Mwh Gravity Energy Storage System

Energy Vault | 1 March 2024

(BUSINESS WIRE )--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 EVxTM 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.

In 2023, Energy Vault's partners, CNTY and Atlas Renewable, broke ground on multiple new EVx projects with local public announcements, all of which are being made available on Energy Vault's website under the Investor tab: a 17 MW/68 MWh EVx GESS deployment located in Zhangye City, Gansu Province, being built adjacent to a renewable energy generation site and a national grid interconnection site; a 50 MW/200 MWh EVx located in Ziuquan City, Jinta County, Gansu Province; and a 25 MW/100 MWh EVx located in Huailai Cunrui Town, Zhangjiakou County, Hebei Province. The latter two projects were previously announced alongside four other deployments in China, and are being built adjacent to renewable energy generation and national grid interconnection sites. Upon completion, the systems will augment and support ongoing balancing of China's national energy grid through the storage and delivery of renewable energy.

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