Energy Vault Secures Long-Term Energy Service Agreement with AusEnergy
Energy Vault announced the Ebor Battery Energy Storage System has been awarded a long-term energy service agreement by AusEnergy Services. Located in Ebor, within the New England Region of New South Wales, the 100 MW / 870 MWh project will provide 8 hours of dispatchable capacity. The facility will play a role in advancing NSW's renewable energy targets by providing essential grid firming capacity as aging coal generators retire. The system will charge during periods of excess renewable generation and discharge during peak demand, directly supporting the state's transition to a decarbonized grid. Subject to obtaining the necessary contractual and regulatory approvals, Energy Vault plans to exercise its option to acquire the project. Under its exclusive agreement, Bridge Energy will partner with Energy Vault to bring the project to development completion. The Ebor BESS will then be built, owned and operated by Energy Vault under the Asset Vault platform.
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Energy Vault Partners with Bridge Energy for Long-Term Energy Service Agreement
- Long-Term Energy Service Agreement: Bridge Energy has secured a 14-year Long-Term Energy Service Agreement for the EBOR Battery Energy Storage System project, with a capacity of 100 MW / 870 MWh, which is expected to significantly support New South Wales' renewable energy targets.
- Project Investment and Technology Application: Energy Vault plans to acquire the project with an investment of A$310 million, utilizing its proprietary B-VAULT™ technology and Vault-OS™ Energy Management System to ensure efficient grid stability and reliable power supply.
- Community Economic Benefits: The project is expected to create up to 60 direct jobs during the construction phase and ensure long-term economic benefits for the Armidale region through ongoing engagement with local communities.
- Asset Management Strategy: This partnership marks Energy Vault's continued expansion in the Australian market, further advancing its 'Own & Operate' asset management strategy aimed at generating stable revenue streams through efficient energy storage solutions.
Energy Vault Signs Two B-VAULT Contracts in Switzerland, Launches FlexGrid Program
- Market Entry: Energy Vault formally enters the Swiss market with the launch of the B-VAULT FlexGrid system for commercial and industrial customers, marking a significant milestone in its European expansion strategy and expected to drive market share growth in the region.
- Project Implementation: The 2 MW system deployed at Schindler Aufzüge AG was installed and Swissgrid-qualified in under four weeks, showcasing Energy Vault's ability to deliver efficient energy storage solutions rapidly, thereby enhancing customer trust.
- Technological Innovation: The Wettingen project features an 8 MW system with a two-level stacked configuration, achieving up to 8 MW of power within a limited footprint of 50 square meters, optimizing space utilization and enhancing grid stability in line with Switzerland's renewable energy demands.
- Strategic Partnership: By integrating with CKW's Flexpool platform, Energy Vault's systems will participate in frequency regulation and voltage control markets, directly supporting Swissgrid's resilience and further solidifying its leadership position in the energy storage sector.
Energy Vault Launches FlexGrid Energy Storage System in Switzerland
- Market Entry: Energy Vault formally enters the Swiss market with the launch of its FlexGrid energy storage system, designed for 2-25 MW industrial and commercial customers, marking a significant milestone in the company's European energy infrastructure strategy.
- Project Partnerships: Agreements with Schindler Group and Energie Wettingen AG showcase the FlexGrid system's adaptability in urban and utility environments, advancing sustainability goals while enhancing Energy Vault's market presence.
- Rapid Delivery: The installation and commissioning of the 2 MW FlexGrid system were completed in less than four weeks, demonstrating Energy Vault's capability to deliver efficient and reliable energy solutions swiftly.
- Long-term Commitment: A 10-year service agreement with Schindler reflects a shared commitment to sustainable operations and long-term reliability, bolstering market confidence in Energy Vault's offerings.
Crude Oil Falls 4%; Shares of Holding Companies Surge Following Q3 Earnings Report
Market Performance: U.S. stocks showed mixed results, with the Dow rising 0.66% while the Nasdaq fell 0.65% and the S&P 500 dropped 0.13%. Health care shares increased by 1.1%, but communication services stocks fell by 1.7%.
Notable Stock Movements: On Holding's shares surged over 18% after reporting strong earnings, while Leap Therapeutics saw a 145% increase. Conversely, VisionSys AI's shares plummeted 77% following a direct offering announcement.
Commodity Trends: Oil prices decreased by 4.1% to $58.51, while gold rose by 2% to $4,199.90. Silver and copper also saw gains of 4.7% and 1.1%, respectively.
Global Market Overview: European shares rose, with the eurozone's STOXX 600 up 0.71%, and Asian markets mostly closed higher, led by Japan's Nikkei 225 and Hong Kong's Hang Seng.
Goldman Sachs Keeps Sell Rating on Energy Vault Holdings, Increases Price Target to $2
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: Subscribers gain access to unique stories and insights generated by Benzinga reporters.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: The platform provides essential tools and information to help traders succeed in the stock market.
Dow Rises Over 300 Points; Energy Vault Holdings Stock Soars
Market Performance: U.S. stocks showed mixed results, with the Dow Jones gaining 0.64% while the NASDAQ and S&P 500 fell by 0.79% and 0.23%, respectively.
Sector Highlights: Energy shares rose by 1.2%, while information technology stocks experienced a decline of 0.9%.
Notable Stock Movements: RealReal Inc. saw a significant rise after positive earnings, while enGene Holdings Inc. surged 72% following promising study results. Conversely, Vor Biopharma Inc. and Salarius Pharmaceuticals Inc. both dropped 50% due to public offering announcements.
International Markets: European shares increased, with the eurozone's STOXX 600 up 1.05%, while Asian markets closed mixed, with Japan's Nikkei 225 slightly down and India's BSE Sensex up 0.40%.
Energy Vault Partners with Bridge Energy for Long-Term Energy Service Agreement
- Long-Term Energy Service Agreement: Bridge Energy has secured a 14-year Long-Term Energy Service Agreement for the EBOR Battery Energy Storage System project, with a capacity of 100 MW / 870 MWh, which is expected to significantly support New South Wales' renewable energy targets.
- Project Investment and Technology Application: Energy Vault plans to acquire the project with an investment of A$310 million, utilizing its proprietary B-VAULT™ technology and Vault-OS™ Energy Management System to ensure efficient grid stability and reliable power supply.
- Community Economic Benefits: The project is expected to create up to 60 direct jobs during the construction phase and ensure long-term economic benefits for the Armidale region through ongoing engagement with local communities.
- Asset Management Strategy: This partnership marks Energy Vault's continued expansion in the Australian market, further advancing its 'Own & Operate' asset management strategy aimed at generating stable revenue streams through efficient energy storage solutions.
Energy Vault Signs Two B-VAULT Contracts in Switzerland, Launches FlexGrid Program
- Market Entry: Energy Vault formally enters the Swiss market with the launch of the B-VAULT FlexGrid system for commercial and industrial customers, marking a significant milestone in its European expansion strategy and expected to drive market share growth in the region.
- Project Implementation: The 2 MW system deployed at Schindler Aufzüge AG was installed and Swissgrid-qualified in under four weeks, showcasing Energy Vault's ability to deliver efficient energy storage solutions rapidly, thereby enhancing customer trust.
- Technological Innovation: The Wettingen project features an 8 MW system with a two-level stacked configuration, achieving up to 8 MW of power within a limited footprint of 50 square meters, optimizing space utilization and enhancing grid stability in line with Switzerland's renewable energy demands.
- Strategic Partnership: By integrating with CKW's Flexpool platform, Energy Vault's systems will participate in frequency regulation and voltage control markets, directly supporting Swissgrid's resilience and further solidifying its leadership position in the energy storage sector.
Energy Vault Launches FlexGrid Energy Storage System in Switzerland
- Market Entry: Energy Vault formally enters the Swiss market with the launch of its FlexGrid energy storage system, designed for 2-25 MW industrial and commercial customers, marking a significant milestone in the company's European energy infrastructure strategy.
- Project Partnerships: Agreements with Schindler Group and Energie Wettingen AG showcase the FlexGrid system's adaptability in urban and utility environments, advancing sustainability goals while enhancing Energy Vault's market presence.
- Rapid Delivery: The installation and commissioning of the 2 MW FlexGrid system were completed in less than four weeks, demonstrating Energy Vault's capability to deliver efficient and reliable energy solutions swiftly.
- Long-term Commitment: A 10-year service agreement with Schindler reflects a shared commitment to sustainable operations and long-term reliability, bolstering market confidence in Energy Vault's offerings.
Crude Oil Falls 4%; Shares of Holding Companies Surge Following Q3 Earnings Report
Market Performance: U.S. stocks showed mixed results, with the Dow rising 0.66% while the Nasdaq fell 0.65% and the S&P 500 dropped 0.13%. Health care shares increased by 1.1%, but communication services stocks fell by 1.7%.
Notable Stock Movements: On Holding's shares surged over 18% after reporting strong earnings, while Leap Therapeutics saw a 145% increase. Conversely, VisionSys AI's shares plummeted 77% following a direct offering announcement.
Commodity Trends: Oil prices decreased by 4.1% to $58.51, while gold rose by 2% to $4,199.90. Silver and copper also saw gains of 4.7% and 1.1%, respectively.
Global Market Overview: European shares rose, with the eurozone's STOXX 600 up 0.71%, and Asian markets mostly closed higher, led by Japan's Nikkei 225 and Hong Kong's Hang Seng.
Goldman Sachs Keeps Sell Rating on Energy Vault Holdings, Increases Price Target to $2
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: Subscribers gain access to unique stories and insights generated by Benzinga reporters.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: The platform provides essential tools and information to help traders succeed in the stock market.
Dow Rises Over 300 Points; Energy Vault Holdings Stock Soars
Market Performance: U.S. stocks showed mixed results, with the Dow Jones gaining 0.64% while the NASDAQ and S&P 500 fell by 0.79% and 0.23%, respectively.
Sector Highlights: Energy shares rose by 1.2%, while information technology stocks experienced a decline of 0.9%.
Notable Stock Movements: RealReal Inc. saw a significant rise after positive earnings, while enGene Holdings Inc. surged 72% following promising study results. Conversely, Vor Biopharma Inc. and Salarius Pharmaceuticals Inc. both dropped 50% due to public offering announcements.
International Markets: European shares increased, with the eurozone's STOXX 600 up 1.05%, while Asian markets closed mixed, with Japan's Nikkei 225 slightly down and India's BSE Sensex up 0.40%.
