Energy Vault is the creator of gravity and kinetic energy based, long-duration energy storage solutions that are transforming the world’s approach to delivering reliable and sustainable electricity.
Energy Vault offers an energy storage technology utilizing fundamental principles of science to deliver a storage solution that's as compassionate to the planet as it is efficient to build and operate.
Energy Vault was founded in 2017 by Bill Gross, Robert Piconi, and Andrea Pedretti. The company is based in Lugano, Ticino, Switzerland.
Energy Vault's proprietary gravity-based Energy Storage Technology and the Energy Storage Management and Integration Platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability.
Energy Vault has created the world’s only cost-effective, utility-scale gravity-based energy storage system that is not dependent on land topography or specific geology underground.
Energy Vault’s ready-to-deploy solution combined with low cost solar or wind renewable generation is lower than the most economical existing, fully-amortized fossil fuel-based power plants (i.e. combined cycle natural gas).
Energy Vault is backed by SoftBank Vision Fund, Prime Movers Lab, Saudi Aramco Energy Ventures, Korea Zinc, Cemex Ventures, Helena Special Investments, Idealab, NeoTribe, A.T. Gekko, and others. The company raised an additional $50M in Series C round on Jan 05, 2022, brining the round total to $150M. The additional investment brings Energy Vault's total funding to $280M to date.