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, & Andrea Pedretti and is based in Lugano, Ticino, Switzerland.
Energy Vault's solution utilises the 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 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. Compared to incumbent stationary energy storage solutions – most notably chemical batteries – Energy Vault provides a sustainable alternative that does not degrade over the life of the project and has competitive performance with round-trip efficiency between 80 to 90% – all at a significantly lower initial CapEx and levelized cost per kilowatt-hour price point.
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's breakthrough technology was inspired by pumped hydro plants that rely on gravity and the movement of water to generate power.
Energy Vault is backed by SoftBank Vision Fund, Cemex Ventures, Idealab, & NeoTribe Ventures. The company raised $110M in it's latest funding of a "Series B" round on Aug 14, 2019, which brings Energy Vault's total funding to $120M+ to-date.