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Chief financial officers

Energy Vault Secures Up to $50 Million in Corporate Debenture Financing

Strategic Insights

— 1 min read

Energy Vault, a leading provider of sustainable, grid-scale energy storage solutions, has entered into a definitive funding agreement with YA II PN, Ltd. for up to $50 million in corporate debenture financing. This facility will provide Energy Vault with additional financial flexibility and support the company's continued growth in energy storage project development and execution. The funding agreement is separate from a previously announced $300 million preferred equity investment with a leading infrastructure investor.

Key Takeaways:

  • Energy Vault has secured up to $50 million in corporate debenture financing from YA II PN, Ltd. to support the company's growth in energy storage project development and execution.
  • The funding agreement provides Energy Vault with additional financial flexibility at the holding company level.
  • The company plans to use the funds to continue scaling its business and delivering on its growth projects without constraint.
  • Energy Vault has a growing portfolio of owned and operated energy storage projects, including operational facilities in Texas and California, and the recently acquired 1 GWh Stoney Creek project in Australia.
  • The company has a robust pipeline of approximately 3GW of battery energy storage systems across the U.S., Europe, and Australia.
  • Energy Vault's independent power producer (IPP) strategy involves creating recurring revenue streams and high-margin, contracted cash flows through long-term offtake agreements.
  • The company's financial flexibility is supported by a recently announced $300 million preferred equity investment with a leading infrastructure investor.

Statistics:

  • Up to $50 million in corporate debenture financing secured by Energy Vault from YA II PN, Ltd.
  • $300 million in preferred equity investment secured by Energy Vault from a leading infrastructure investor.
  • 3GW of battery energy storage systems in Energy Vault's pipeline across the U.S., Europe, and Australia.
  • 1 GWh Stoney Creek project acquired by Energy Vault in Australia.
  • Operational facilities in Texas and California owned and operated by Energy Vault.

Sources:

  • Energy Vault Holdings Inc. (NYSE: NRGV) (PR Newswire, no date)
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