Energy Vault Announces Commencement Of Commissioning Of World's First EVx Gravity Energy Storage System
Portfolio Pulse from Happy Mohamed
Energy Vault Holdings, Inc. (NYSE:NRGV) has announced the commencement of commissioning of the world's first EVx Gravity Energy Storage System. The system, located in Rudong, Jiangsu Province, China, is expected to be fully interconnected to the local state utility grid in Q4 of this year. The 25 MW/100 MWh EVx GESS is built adjacent to a wind farm and a national grid interconnection site to augment and balance China's national energy grid through the storage and delivery of renewable energy. The company's gravity energy storage technology is also being used in other projects in China, including a 100 MWh gravity energy storage project in Huailai County, Hebei Province.
August 01, 2023 | 1:29 pm
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Energy Vault's commencement of commissioning of the world's first EVx Gravity Energy Storage System and its involvement in other projects in China could potentially boost its stock in the short term.
The news of Energy Vault's commencement of commissioning of the world's first EVx Gravity Energy Storage System and its involvement in other projects in China is likely to be seen positively by investors. This could potentially lead to an increase in demand for the company's stock, thereby driving its price up in the short term.
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