Energy Vault Holdings Inc. (NYSE: NRGV) ("Energy Vault" or the "Company"), a leader in sustainable, grid-scale energy storage solutions, and Jupiter Power ("Jupiter"), a leading developer and operator of utility-scale battery energy storage projects in the United States, today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. Today's announcement follows the July 2024 completion of an initial 100 MW/200 MWh BESS.
This new BESS will add 100 MW/200 MWh of critical dispatchable capacity to the ERCOT grid, further advancing grid resiliency. Construction of the project is underway, with commercial operations expected to commence by the end of this summer.
The BESS system will be built with the Energy Vault's proprietary X-Vault integration platform using Energy Vault's proprietary UL9540 certified B-VAULT product, and VaultOS Energy Management System to control, manage and optimize the BESS operations. Energy Vault's innovative system architecture provides customer optionality with both battery and inverter suppliers, while unique AC-coupled and DC-coupled configurations provide the drop-in flexibility needed for any project.
"As one of the largest battery storage developers and operators in the U.S., we look for partners who can keep pace with our ambition and scale. With more than 2,500 MWh in operation or construction, we're excited to continue building with Energy Vault at this critical site and appreciate their ability to deliver solutions tailored to our needs," said Michael Geier, Chief Technology Officer, Jupiter Power.
"Today's expansion of our partnership with Jupiter Power stands as a testament to the strength of our team's collaborative approach to delivering reliable, safe, and efficient energy storage solutions to customers," said Marco Terruzzin, Chief Commercial and Product Officer, Energy Vault. "Jupiter's BESS projects portfolio has reached a critical mass in ERCOT and we're proud to continue serving as a partner to Jupiter Power in the ultimate endeavor to decarbonize the grid in an economically effective fashion."
Today's announcement serves as yet another milestone in the ongoing partnership between Energy Vault and Jupiter Power, which began in 2022 with the announcement of an agreement to secure 2.4 GWh of supply chain equipment and services that will be integrated and delivered through Energy Vault's hardware and software management platform in Jupiter Power's battery energy storage projects. To date, Energy Vault's B-VAULT portfolio consists of more than 2 GWh in total projects either deployed or currently in development.
About Energy Vault
Energy Vault® develops, deploys and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company's technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault's innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Please visit www.energyvault.com for more information.
About Jupiter Power
Jupiter Power is a leading energy storage infrastructure platform with extensive capabilities in trading, analytics, development, finance, operations and construction. The company is developing approximately 12,000 MW of utility-scale energy storage projects from California to Maine. Jupiter Power is headquartered in Austin, Texas, with offices in Houston and Chicago. For more information on Jupiter Power LLC, please visit our X, LinkedIn or Facebook pages or visit www.jupiterpower.io.
Forward-Looking Statements
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