Energy Vault Asset Vault Energy Storage Projects

under construction and operating

Energy Vault develops, deploys, and operates utility-scale energy storage solutions including battery, gravity, and green hydrogen systems. The company has an 'Own & Operate' asset management strategy called Asset Vault, supported by a $300 million preferred equity fund, targeting high-quality storage projects across the U.S., Australia, and Europe. As of December 31, 2025, Energy Vault has contracted, operating, and in-construction capacity of 540 MW, up from 65 MW a year earlier, with a contract revenue backlog of $1.3 billion. Projects include the 150 MW / 300 MWh SOSA Battery Energy Storage System in Texas, the 8.5 MW / 293 MWh Calistoga Resiliency Center, and the 57 MW / 114 MWh Cross Trails project. The company expects these projects to contribute significant recurring adjusted EBITDA as they come online over the next 18-36 months.