What is Energy Vault?

Energy Vault established Arbedo-Castione, Switzerland, as the premier research hub for research and development of the company's proprietary EVx™ Gravity Energy Storage System (GESS) technology and the supporting Energy Management System (EMS) solutions software. Enabling a renewable world.

How did Energy Vault get funding?

In 2019, Energy Vault secured funding from Cemex before going on to secure $110m of Series B funding to become the first energy storage investment of the SoftBank Vision Fund, and won Fast Company's World Changing Idea Award for transformative utility-scale energy storage.

Who is Energy Vault Research & Development Center?

2020 The Energy Vault Research and Development Center was founded in 2019. Energy Vault established Arbedo-Castione, Switzerland, as the premier research hub for research and development of the company's proprietary EVx™ Gravity Energy Storage System (GESS) technology and the supporting Energy Management System (EMS) solutions software.

How does Swiss Energy Vault work?

The Swiss start-up Energy Vault follows the same principle as pumping and turbines. But instead of water, it uses concrete blocks. When there is a surplus of green electricity, these “bricks” are hoisted on top of each other to form a 120-metre tower. They are then “dropped” using gravity to generate electricity.

Who owns Energy Vault?

In 2020, Energy Vault was Named Technology Pioneer by World Economic Forum and completed the mechanical construction of the first of its kind, grid-scale testing tower in Castione-Arbedo, Ticino, Switzerland. In 2021, Energy Vault announced investments from Saudi Aramco Energy, and other existing investors.

Can Energy Vault solve the problem of electricity storage?

Energy Vault will have to show over the coming months that it has an efficient and competitive system. Piconi, who has worked for a number of multinationals, believes his team can solve the problem of electricity storage. “There are great expectations around the world, seeing as no-one has been able to meet this challenge so far.