Energy Vault Announces China State Grid Interconnection Of First EVx 100 MWh Gravity Energy Storage System, Groundbreaking Of Three Additional EVx Gravity Storage Systems And Other China Market Expansion Milestones
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Energy Vault Holdings, Inc. (NRGV) announced the interconnection of its first EVx 100 MWh gravity energy storage system in Rudong, China, and the groundbreaking of three additional systems. These developments are part of a larger expansion in China, with nine EVx systems totaling 3.7 GWh under construction. The Rudong and Zhangye City systems have been designated as 'new energy storage pilot demonstration projects' by China's National Energy Administration. This recognition and the ongoing construction underscore the growing adoption of Energy Vault's technology in China's renewable energy sector.
February 29, 2024 | 10:01 pm
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Energy Vault Holdings, Inc. (NRGV) has successfully interconnected its first EVx gravity energy storage system in Rudong, China, and announced the start of construction on three additional systems. This marks significant progress in the company's expansion within the Chinese market, which is supported by partnerships with China Tianying and Atlas Renewable.
The successful interconnection of Energy Vault's first EVx system and the initiation of three more projects in China represent significant advancements for the company. These developments not only demonstrate the technical viability and market acceptance of Energy Vault's gravity energy storage solutions but also align with China's increasing focus on renewable energy and energy storage. Given the scale of the Chinese market and the government's support for renewable energy, these milestones are likely to have a positive impact on investor perception and the company's future revenue streams.
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