Does Energy Vault have a problem?

Renewable energy is billed as a clean source of power that will free civilization from the dirty, CO 2 -generating fossil fuels that drive climate change. But it has a problem. From left to right, Energy Vault’s tower fully “charged,” at partial levels of charge, and with its capacity fully expended. Source: Energy Vault

Will Energy Vault make energy storage more economical?

And its stock has slumped by 89% over the last year, a fate many startups suffered with economic troubles and skeptical investors. Energy Vault's Piconi is convinced the company is on the right path toward making energy storage more economical, though.

What is Energy Vault's EVX technology?

The technology is best suited for long-duration storage with very fast response times. The Series C funding was led by Prime Movers Lab, with existing investors SoftBank and Saudi Aramco adding additional funds and several new investors joining. Energy Vault plans to use the funding to roll out its EVx platform, launched in April of this year.

When will Energy Vault's gravity storage system be complete?

Energy Vault's first large-scale gravity storage system is under construction in China and should be complete by June. Imagine a gigantic brick, packed full of compressed dirt. As big as a pickup truck but -- at 24 tons -- about five times heavier.

Where did Energy Vault test its technology?

Energy Vault tested its technology at a smaller scale in Switzerland, where the 170-person company is headquartered. Its two EVx systems under construction are much bigger.

Is Energy Vault a 'gamechanger' in the transition to green energy?

Huque called Energy Vault a “gamechanger” in the transition to green energy, saying the company “has cracked the code with a transformative solutiondesigned to fulfill clean energy demand 24/7 with a more efficient, durable, and environmentally sustainable approach.”