Energy Vault Secures USD 300 Million Equity Investment to Accelerate 1.5 GW Global Energy Storage Projects
Energy Vault, a grid-scale energy storage solutions provider, has secured a USD 300 million preferred equity investment to fund the launch of Asset Vault. The fund will be utilised to accelerate the company’s 1.5 GW of energy storage projects under development across the US, Australia and Europe.
August 11, 2025. By Mrinmoy Dey
The investment will support Energy Vault’s IPP strategy to build, own and operate energy storage assets, accelerating the deployment of 1.5 GW in attractive priority markets. Leveraging its significant operational expertise in efficiently designing, building and operating energy storage assets, Energy Vault can achieve lower USD/kWh CapEx as well as lower asset OpEx through its Energy Management System software platform for efficient system operation, safety, reliability and economic dispatching to enhance project IRRs, the company said in a statement.
Upon final closing – subject to customary regulatory and closing conditions anticipated in the next 30-60 days – Asset Vault will be formed as a fully consolidated subsidiary for Energy Vault’s owned energy storage assets supported by long-term off-take agreements that ensure project monetisation. The USD 300 million investment will be utilised for project development expenses, project acquisition, and both majority and minority equity investments to support attractive project financing to deliver the asset construction, commissioning and operation.
Commenting on the development, Robert Piconi, Chairman of the Board and CEO of Energy Vault, said, “The USD 300 million investment and the creation of Asset Vault unlock the full potential of our ‘Own and Operate’ storage IPP strategy with immediate investment flexibility. By combining long-term contracted revenues with strategic capital and integrated, self-performed project execution, we are well positioned to scale resilient, mission-critical energy infrastructure to meet the current needs driven by the penetration of renewable energy and the massive increases in energy demand driven by data centre AI infrastructure.”
Asset Vault will consolidate Energy Vault’s growing portfolio of contracted and operational storage projects, with 3 GW/12 GWh of top-tier projects identified, acquired and/or in operation. The operational projects include 57 MW/114 MWh Cross Trails BESS and 8.5MW/293MWh Calistoga Resiliency Center projects. “About USD 100 million is deployed across the first two projects, offset by project financing and monetisation of investment tax credits. Both projects are supported by long-term offtake agreements and project-level debt financing, creating high-visibility, profitable and recurring cash flows,” stated the company.
Contracted projects include Stoney Creek BESS, the recently acquired 125 MW/1,000 MWh in New South Wales, Australia, backed by up to a 14-year Long-Term Energy Service Agreement (LTESA) with AEMO Services as the Consumer Trustee under the New South Wales Electricity Infrastructure Roadmap, ensuring stable capacity revenues.
Additionally, the company has a robust pipeline of about 3 GW of battery energy storage systems (BESS) across the US, Europe and Australia. “These projects are underpinned by long-term revenue contracts, with the US projects benefiting from Investment Tax Credit (ITC) incentives, positioning the platform for over 15 percent targeted levered IRRs over a 20-year asset life,” it said.
Critically, Energy Vault will retain voting and operational control of Asset Vault, leveraging its fully integrated development, EPC, and asset management capabilities. By self-performing engineering, procurement, and construction (EPC) for projects within the Asset Vault platform, Energy Vault expects to generate incremental consolidated revenue and high gross margins while unlocking strategic operating leverage across its value chain.
please contact: contact@energetica-india.net.
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