NRGV News & Events

Energy Vault Holdings announced the acquisition of the McMurtre Battery Energy Storage System, BESS, a 175 MW / 350 MWh battery energy storage project located near Dallas, Texas. The project, acquired from Belltown Power, represents a significant addition to Energy Vault's growing U.S. energy storage portfolio and marks a further milestone in the Company's previously announced plan to deploy an initial 1,500 MW of BESS capacity - a target first outlined at Energy Vault's 2025 Investor and Analyst Day. Energy Vault intends to contribute the project to its Asset Vault investment platform upon the project achieving Ready-to-Build status.

The major averages closed lower following a series of volatile sessions where markets have swung sharply based on headlines tied to the Middle East conflict and energy supply disruptions. Reports of fresh attacks on Iranian energy infrastructure caused intraday swings in both oil and equities once again on Wednesday.Traders also reacted to news from the U.S. Federal Reserve, which maintained the federal funds rate, saying that economic uncertainty "remains elevated" given developments in the Middle East. Of note, the Fed said the median projection for the funds rate by the end of 2026 remains at 3.4%, indicating most officials at the central bank still expect at least one quarter-point cut to interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Millsreportedand reiterated its FY26 outlookMacy'sreportedand provided guidance for FY26Lululemonreportedand provided its outlook for Q1 and FY26Compassdismissedagainst ZillowThe Federal Reserve left the federal funds rate2. WALL STREET CALLS:CitiConstellationto Buy on better beer trendsTruistBlockto Buy following 40% reduction in forceTrade Deskat Rosenblatt and Stifel amid pressures from agenciesRBC CapitalStarbucksto Sector Perform on balanced risk/rewardCF Industriesto Underperform at Mizuho3. AROUND THE WEB:Kraft Heinzand Unileverdiscussed a potential food merger, FT reportsFox Corp.and Kalshi are in talks on a partnership deal, Front Office Sports reportsMicrosoftis weighing legal action against Amazonand OpenAI over a $50B deal that may breach its exclusive cloud partnership with OpenAI, FT reportsThe U.S. government confirmed that Teslais the customer behind LG Energy Solution's $4.3B LFP battery supply deal, ending speculation since the contract was disclosed last July, Electrek saysNebiusintends to raise about $3.75B in convertible debt to use for its data center expansion and to purchase customized chips, and plans to offer the notes in two series, at $2B due in 2031 and $1.75B in 2033, Bloomberg says4. MOVERS:Ovid Therapeuticsgains after, Phase 1 clearance for OV4071, and results for Q4Nextnavand Energy VaultincreasesnVent Electrichigher in New York after updating itsGeminilower after Citithe stock to SellSailPointfalls afterand providing guidance for FY275. EARNINGS/GUIDANCE:Williams-Sonomaand provided guidance for FY26Spire Globaland provided guidance for Q1 and FY26Jabiland raised its guidance for FY26Weibo, with EPS missing consensusOrbit International, with EPS and revenue lower year-over-yearINDEXES:The Dow fell 768.11, or 1.63%, to 46,225.15, the Nasdaq lost 327.11, or 1.46%, to 22,152.42, and the S&P 500 declined 91.39, or 1.36%, to 6,624.70.

The major averages turned lower once again following two days of gains as investors balance oil prices against still-elevated geopolitical risk. The move follows a series of volatile sessions where markets have swung sharply based on headlines tied to the Middle East conflict and energy supply disruptions. Reports of fresh attacks on Iranian energy infrastructure have already caused intraday swings in both oil and equity futures.Meanwhile, traders are focused on the upcoming rate policy decision from the Federal Reserve, which is anticipated to maintain interest rates but could alter its forward guidance in response to the recent energy-driven inflation shock. Oil has been climbing once again, while gold has dropped below $4,900 per ounce.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Millsreportedand reiterated its FY26 outlookMacy'sreportedand revenue and provided guidance for FY26Lululemonreportedand provided its outlook for Q1 and FY26Coupangannounced its collaboration with Nvidiahas helped it createInspireMDreported2. WALL STREET CALLS:CitiConstellationto Buy on better beer trendsTruistBlockto Buy following 40% reduction in forceTrade Deskat Rosenblatt and Stifel amid pressures from agenciesRBC CapitalStarbucksto Sector Perform on balanced risk/rewardCF Industriesto Underperform at Mizuho3. AROUND THE WEB:Metahas failed to stop illegal ads for high-risk financial products running on its platforms in Britain, Reuters saysMicrosoftis weighing legal action against Amazonand OpenAI over a $50B deal that may breach its exclusive cloud partnership with OpenAI, FT reportsThe U.S. government confirmed that Teslais the customer behind LG Energy Solution's $4.3B LFP battery supply deal, ending speculation since the contract was disclosed last July, Electrek saysGoogleis in discussions with Envicool and other Chinese firms on buying liquid cooling equipment for data centers, Reuters reportsNebiusintends to raise about $3.75B in convertible debt to use for its data center expansion and to purchase customized chips, and plans to offer the notes in two series, at $2B due in 2031 and $1.75B in 2033, Bloomberg says4. MOVERS:Ovid Therapeuticsgains afterPhase 1 clearance for OV4071, and results for Q4Nextnavand Energy Vaultincreases afternVent Electrichigher in New York after updating its three-yearGeminilower after Citithe stock to SellSailPointfalls afterand providing guidance for FY275. EARNINGS/GUIDANCE:Williams-Sonomaand provided guidance for FY26Spire Globaland provided guidance for Q1 and FY26Jabiland raised its guidance for FY26Weibo, with EPS missing consensusOrbit International, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 0.90%, or 424.40, to 46,568.86, the Nasdaq was down 0.55%, or 125.44, to 22,356.75, and the S&P 500 was down 0.56%, or 37.51, to 6,678.58.

Expecting to complete project financing for the 150 MW / 300 MWh SOSA project during 2Q 2026 and the 125 MW / 1 GWh Stoney Creek project in 2H 2026. Estimating $75-100 million in full year 2026 internal project integration work related to the Asset Vault 'Own & Operate' portfolio, which is expected to yield a ~15% cash margin along with the capitalization of associated labor. This contribution will not appear in either consolidated GAAP Revenue or Gross Margin given the consolidation of majority owned projects, but is expected to generate positive cash flow in excess of Energy Vault's equity investment.