Energy Vault Holdings Inc

Energy Vault Holdings has completed the acquisition of the project land for its 125 MW / 1 GWh Stoney Creek Battery Energy Storage System in Northern New South Wales, Australia, following Foreign Investment Review Board approval. The land, previously held under a lease agreement, is now fully owned by the company, advancing the project toward construction, which is expected to begin in Q1 2027, with commercial operations targeted for H1 2028. The project is supported by a 14-year Long-Term Energy Service Agreement awarded through AEMO Services under the New South Wales Electricity Infrastructure Roadmap, providing expected annual revenue of approximately $25-$30 million. Stoney Creek is a flagship asset in Energy Vault's Build, Own & Operate portfolio, designed to deliver eight hours of dispatchable storage, and will utilize the VaultOS energy management platform to optimize performance.

Energy Vault has entered into a commercial agreement to deliver 1.25GW of integrated power infrastructure for a hyperscaler artificial intelligence data centre project in Texas. The deal involves grid-forming power conversion systems, battery energy storage systems, and AI infrastructure control software, with deployments set to begin within the next four to 12 months. The company expects the agreement to generate approximately $500m to $600m in revenue during the second half of 2026 and into 2027. The platform combines dispatchable power generation, intelligent battery storage, inverter systems, and advanced software controls into a single package designed for hyperscaler AI campuses, providing off-grid power and enabling faster compute capacity deployment than traditional utility interconnections. A national engineering, procurement and construction specialist will provide power generation experience including Caterpillar gensets.

Citi initiated coverage of Energy Vault Holdings with a Neutral rating and a $5.25 price target. Analyst Vikram Bagri noted the company's capital-light model provides exposure to power infrastructure and data center demand, but Citi seeks a more attractive entry point or better visibility into growth catalysts before turning more constructive. Separately, Energy Vault completed its acquisition of an 850 MW battery energy storage portfolio in Japan from BayWa r.e. AG, establishing an operational platform in the country. The portfolio includes 350 MW of advanced-stage projects expected to reach notice to proceed in the second half of 2027 and 500 MW of early-stage projects, expanding the company's global owned asset base to more than 1 GW.

Energy Vault Holdings has acquired an 850-megawatt Japanese battery energy storage system development portfolio from BayWa r.e., establishing its operational footprint in Japan. About 350 megawatts of the deal consists of advanced-stage projects tracking to reach the Notice to Proceed stage in the second half of 2027, with commercial operation dates projected to begin in mid-2028. The remaining 500 megawatts are early-stage projects, providing a multi-year development runway and expansion potential as the company scales its regional platform.