Energy Vault's energy storage systems use gravity to store and release renewable energy on demand, giving grid-scale reliability to clean energy sources in place of fossil fuels.
Energy Vault's special purpose acquisition merger with Novus Capital Corporation II in September valued the company at $1.1 billion. The company said at the time that it had eight executed agreements and letters of intent for 1.2 GWh of energy storage capacity, with deployments planned for later this year in the U.S., before rolling out in Europe, the Middle East, and Australia in 2022.
Energy Vault storage systems have a technical life of 35 years.
“We are pleased to be partnering with Rob and the Energy Vault team to deploy their innovative energy storage system which best meets our needs for reliable, cost effective, safe and sustainable energy storage," said DG Fuels CEO Michael Darcy. "Energy Vault’s system will play a critical role within our technology and vendor ecosystem to efficiently deliver SAF to the transportation industry.”
John Engel is a Content Director for Clarion Events. For the past decade, John has worked as a journalist across various mediums -- print, digital, radio, and television -- covering sports, news, and politics. He lives in Asheville, North Carolina with his wife, Malia. Have a story idea or a pitch? Email John at email@example.com.