Energy Vault Announces Five Additional EVx Gravity Energy Storage System Deployments In China
Portfolio Pulse from Benzinga Newsdesk
Energy Vault Holdings, Inc. (NYSE:NRGV) has announced five new deployments of its EVx gravity energy storage systems in China, bringing the total planned deployments in the country to seven. The projects, which are being deployed by China Tianying Inc. (CNTY), are expected to total 3.26 GWh and have a project scope of over $1 billion. Energy Vault collects a 5% revenue royalty from these projects. The first EVx system is under final commissioning in Rudong and will be the world's first commercial, grid-scale gravity energy storage system.
November 06, 2023 | 1:42 pm
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POSITIVE IMPACT
Energy Vault's announcement of additional EVx deployments in China is a positive development for the company. The projects, which total 3.26 GWh and have a project scope of over $1 billion, will generate significant revenue for Energy Vault, which collects a 5% royalty from these projects.
The announcement of additional EVx deployments in China is a significant development for Energy Vault. The projects, which are expected to total 3.26 GWh and have a project scope of over $1 billion, will generate substantial revenue for the company, which collects a 5% royalty from these projects. This is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100