Energy Vault and Kore Power have announced a master supply agreement (MSA) which will see Kore supply 1.3GWh of US-made batteries in 2025, potentially rising to 7GWh by 2027.

Energy Vault has secured a US licensing deal for its gravity energy storage technology and awards covering its other technologies there and in Southeast Asia, it said in its Q2 results.

Energy Vault has started commissioning its first commercial EVx gravity energy storage project in Rudong, China.

Energy-Storage.news caught up with Energy Vault CEO Robert Piconi to primarily discuss its gravity-based energy storage solution which, putting it mildly, has its fair share of sceptics.

Energy Vault will reveal new form factors to its EVx gravity-based energy storage solution which could deliver the “lowest cost of energy storage in the world”, CEO Robert Piconi claimed to Energy-Storage.news.

Battery OEM Rept Battero, part of metals firm Tsingshan Industry, has tied up with Energy Vault a few weeks after it agreed a smaller deal with Powin.

Energy Vault secured 2.8GWh of project orders in the first quarter of 2023 and revealed that it has invested in Kore Power, the US lithium-ion battery and BESS firm, though booked revenues fell 75%.

A ‘first of its kind’ microgrid will be installed at a California substation, where it will use a combination of lithium-ion batteries and green hydrogen to provide 48 hours of back up.

Gravitricity has partnered with firms in the US and Germany to deploy its gravity energy storage solution while Energy Vault has provided an update on its China project.

Energy Vault has confirmed its increased guidance for 2022, posting US$146 million in revenue of which two-thirds came in Q4.