ACEN Australia and Energy Vault to begin
deployment of two battery energy storage systems (BESS), with a
total capacity of 200 MW/400 MWh, at ACEN Australia’s 720 MW New
England Solar project
The project will be built using the most
advanced grid-forming inverter technology which can provide system
stability services that coal, hydro and gas generators currently
provide
Grid-forming inverters will be integrated with
Energy Vault B-Vault DC block, managed by the Vault-OS energy
management system
Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault"), a
leader in sustainable, grid-scale energy storage solutions, today
announced the execution of a contract with ACEN Australia for the
previously announced deployments of two battery energy storage
systems (BESS) totaling 400 MWh in Australia.
Energy Vault has entered into engineer, procure and construct
(EPC) and operate and maintain (O&M) agreements with ACEN for
the procurement, construction, operation and maintenance of ACEN’s
200MW/400MWh BESS to be co-located with ACEN’s New England Solar
project.
Energy Vault has been appointed to lead the construction of ACEN
Australia’s New England BESS located in New South Wales which is
set to commence this year and be operational by 2026.
ACEN Australia Managing Director David Pollington said the
battery and its grid forming inverters are a game-changer for the
National Electricity Market.
“The New England BESS will be built using some of the most
advanced grid-forming inverter technology which can provide system
stability services that coal, hydro and gas generators currently
provide,” he said.
“With NSW’s ageing coal fired generators due to close, large
battery energy storage systems like this are critical for the
successful transition to an electricity grid supplied by
renewables.”
"Australia is playing a pivotal role in the global clean energy
transition and has been a key market for our ongoing efforts,” said
Robert Piconi, Chairman and CEO, Energy Vault. “We are excited to
join forces with ACEN Australia in our shared mission to create a
sustainable future.”
The BESS will be charged and discharged on a daily basis and
designed to dispatch stored renewable energy at peak consumption
hours to help meet the high demand during New South Wales’ peak
load hours while reducing the region’s reliance on coal-fired power
generation. Currently supported by the NSW Government’s Emerging
Energy Program, the New England BESS project is a part of ACEN’s
broader strategy in Australia, where they are actively developing
over 1 GW of projects. The battery is another milestone for ACEN
Australia and is co-located with ACEN Australia’s inaugural
project, New England Solar, which is a significant generator in the
National Electricity Market (NEM). Once finished, it will be one of
the nation’s largest co-located solar and battery energy storage
facilities providing stored energy to the grid when it is
needed.
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage
solutions designed to transform the world's approach to sustainable
energy storage. The Company's comprehensive offerings include
proprietary gravity-based storage, battery storage, and green
hydrogen energy storage technologies. Each storage solution is
supported by the Company’s hardware technology-agnostic energy
management system software and integration platform. Unique to the
industry, Energy Vault’s innovative technology portfolio delivers
customized short-and-long-duration energy storage solutions to help
utilities, independent power producers, and large industrial energy
users significantly reduce levelized energy costs while maintaining
power reliability. Utilizing eco-friendly materials with the
ability to integrate waste materials for beneficial reuse, Energy
Vault’s EVx™ gravity-based energy storage technology is
facilitating the shift to a circular economy while accelerating the
global clean energy transition for its customers. Please visit
www.energyvault.com for more information.
Forward-Looking Statements
This press release includes forward-looking statements that
reflect the Company’s current views with respect to, among other
things, the Company’s operations and financial performance.
Forward-looking statements include information concerning possible
or assumed future results of operations, including descriptions of
our business plan and strategies. These statements often include
words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,”
“intend,” “project,” “forecast,” “estimates,” “targets,”
“projections,” “should,” “could,” “would,” “may,” “might,” “will”
and other similar expressions. We base these forward-looking
statements or projections on our current expectations, plans, and
assumptions, which we have made in light of our experience in our
industry, as well as our perceptions of historical trends, current
conditions, expected future developments and other factors we
believe are appropriate under the circumstances at the time. These
forward-looking statements are based on our beliefs, assumptions,
and expectations of future performance, taking into account the
information currently available to us. These forward-looking
statements are only predictions based upon our current expectations
and projections about future events. These forward-looking
statements involve significant risks and uncertainties that could
cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements, including changes in our strategy,
expansion plans, customer opportunities, future operations, future
financial position, estimated revenues and losses, projected costs,
prospects and plans; the uncertainly of our awards, bookings and
backlogs equating to future revenue; the lack of assurance that
non-binding letters of intent and other indication of interest can
result in binding orders or sales; the possibility of our products
to be or alleged to be defective or experience other failures; the
implementation, market acceptance and success of our business model
and growth strategy; our ability to develop and maintain our brand
and reputation; developments and projections relating to our
business, our competitors, and industry; the ability of our
suppliers to deliver necessary components or raw materials for
construction of our energy storage systems in a timely manner; the
impact of health epidemics, on our business and the actions we may
take in response thereto; our expectations regarding our ability to
obtain and maintain intellectual property protection and not
infringe on the rights of others; expectations regarding the time
during which we will be an emerging growth company under the JOBS
Act; our future capital requirements and sources and uses of cash;
the international nature of our operations and the impact of war or
other hostilities on our business and global markets; our ability
to obtain funding for our operations and future growth; our
business, expansion plans and opportunities and other important
factors discussed under the caption “Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2023 filed with
the SEC on March 13, 2024, as such factors may be updated from time
to time in its other filings with the SEC, accessible on the SEC’s
website at www.sec.gov. New risks emerge from time to time, and it
is not possible for our management to predict all risks, nor can we
assess the impact of all factors on our business or the extent to
which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements we may make. Any forward-looking
statement made by us in this press release speaks only as of the
date of this press release and is expressly qualified in its
entirety by the cautionary statements included in this press
release. We undertake no obligation to publicly update or review
any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by any applicable laws. You should not place undue
reliance on our forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240603356587/en/
Energy Vault Contacts Investors energyvaultIR@icrinc.com
Media media@energyvault.com
Energy Vault (NYSE:NRGV)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Energy Vault (NYSE:NRGV)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
