The hybrid energy storage system utilizes
Energy Vault’s new EV0™ modular pumped hydro gravity storage
technology plus lithium-ion batteries, and powered by VaultOS™
energy management software, is proposed to be deployed in
500-meter-deep shafts at the largest former coal mine in Italy,
owned by the Sardinia Regional Government
The parties executed a land lease agreement in
July 2024 and will begin site testing in the coming months
The 100MW energy storage system will be owned
and operated by Energy Vault, and is key to increasing the local
use of renewable energy in Sardinia while accelerating the
formation of the Renewable Energy Technology Hub
Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or the
“Company”), a leader in sustainable grid-scale energy storage
solutions, and Carbosulcis S.p.A. ("Carbosulcis"), a coal mining
company owned by the Autonomous Region of Sardinia, today announced
their plans to develop a 100MW Hybrid Gravity Energy Storage
System, a solution designed by Energy Vault for underground mines,
pairing their modular gravity storage and batteries. This unique
energy storage solution to be deployed within 500-meter-deep mine
shafts, along with the VaultOS™ proprietary energy management
software, is essential for the Sardinia Government's targeted
conversion of the coal mine to a Carbon Free Technology Hub, where
the availability of low/zero emissions energy will be a catalyst to
attract new industrial and technological activities.
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Energy Vault and Carbosulcis Announce
100MW Hybrid Gravity Energy Storage Project to Accelerate Carbon
Free Technology Hub at Italy’s Largest Former Coal Mining Site in
Sardinia (Photo: Business Wire)
This Hybrid Energy Storage solution leverages Energy Vault EV0™
gravity technology through a new water-based, modular pumped hydro
application. The proposed system combines long-established pumped
hydro energy storage technology with Energy Vault’s innovative
gravity energy storage technology, allowing the partners to
repurpose the unique underground features of the site as a retired
coal mine. The Hybrid Energy Storage solution is designed to
optimize and fully capitalize on the specific topology of the site
and the 500-meter-deep mine shafts, highlighting the unique
proposition of Energy Vault as a fully integrated and diversified
provider of tailor-made energy storage solutions. The parties
recently executed a land lease agreement, with installation of the
first modular gravity components set to commence in September 2024
with the testing of the underground component of the Hybrid Energy
Storage System expected to be completed in 2025.
Carbosulcis’ Nuraxi Figus site, located on the island of
Sardinia in Italy, is currently set to be retired by the end of
2026, and the Sardinia Regional Government aims to convert the site
into Technology Hub with a minimum environmental impact which will
help the industrial and economic reconversion of an area heavily
affected by the exit from coal production. In addition, the Hybrid
Energy Storage System will help to stabilize the island’s power
grid, with plans to dispatch renewable energy to help meet the high
demand during peak load hours while encouraging further local use
of renewable generation in Sardinia. The proposed site would be
wholly owned and operated by Energy Vault, demonstrating the
Company’s commitment to serving as a long-term partner in the
region.
“We are very excited about the innovative energy storage
combined solution proposed by Energy Vault, including underground
gravity energy storage technology, that we are testing together and
that can become one of the solutions to support our project to
convert our mine into a new Technology Hub. This project will
maximize the local use of renewable energy, and at the same time
provide services that will improve the stability of the power grid
in Sardinia,” said Francesco Lippi, Chief Executive Officer
(Amministratore Unico), Carbosulcis. “We are deeply appreciative of
the partnership that Energy Vault has demonstrated thus far, and
their customer-centric approach to the design of energy storage
solutions has already proved extremely valuable. Energy storage is
a critical component to better utilizing renewable energy
around-the-clock on the island of Sardinia. We see this important
collaboration with Energy Vault as a vital step in the development
of the Technology Hub, which is intended to promote innovation, by
recovering a former mining site and strengthening the concept of
“smart transition” to renewable energy in an area like the Sulcis
Inglesientes heavily affected by the exit from fossil fuels, like
coal.”
"We are proud to collaborate with Carbosulcis for such an
important project. The conversion of the coal mine in Nuraxi Figus
to a Technology Hub powered by renewable energy will help the
Sardinia region to economically revitalize one of its areas most
affected by the exit from fossil fuels. We believe that this
exciting application of our energy storage solutions, including a
new use for our gravity energy storage technology – deploying it
underground – could hold vast potential for future applications,”
said Marco Terruzin, Chief Commercial and Product Officer, Energy
Vault. “Discovering and researching new uses of our technology
demonstrates the broad versatility and potential of our unique and
innovative portfolio of energy storage solutions. We see a future
where our technology helps power the world with renewables. Whether
it’s on an island in Italy, by a wind farm near Shanghai, China,
providing back-up power for a town in California, or supporting the
grid in Texas, Energy Vault’s technology is actively being deployed
in a wide range of commercial applications and geographies around
the world.”
EV0™ is part of Energy Vault’s G-VAULT™ Gravity Energy Storage
System (GESS) portfolio and was announced in May 2024 along with
other new gravity storage system products. The new design is
a water and vessel-based “modular pumped hydro” solution that is
uniquely addressing applications for underground deep mine shafts,
in this case a 500-meter-deep shaft at one of the largest coal
mines in Italy, which is now under closure. The mine with
reserves amounting to 2.5 billion tons of sub-bituminous coal, used
to be one of the largest coal mines of its kind in Europe and the
world. This is the second deployment of a hybrid energy storage
system by Energy Vault after the Calistoga PG&E project in
northern California, the largest green microgrid in the world,
which pairs green hydrogen with lithium-ion batteries.
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 G-VAULT™ 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.
About Carbosulcis
Carbosulcis SpA is a company fully owned by the Autonomous
Region of Sardinia. Since 2014 the company has been active in the
Closure Plan for coal extraction activities. Nevertheless, the
Company inherited impressive infrastructures that were used to
support the original mining activity, such as industrial assets and
buildings for a volume of more than 200,000 m3, distributed on an
area of above 200 hectares, between the Seruci and the Nuraxi Figus
sites, in addition to a network of underground tunnels for about 15
km at a depth that varies between 350 and 500 m below ground which
can be accessed through 4 vertical mine shafts with a depth up to
500 m and also through an inclined shaft, designed as a vehicle
tunnel consisting of three sections of over 1 km each.
Forward-Looking Statements
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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
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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
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cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of
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result in binding orders or sales; the possibility of our products
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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
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suppliers to deliver necessary components or raw materials for
construction of our energy storage systems in a timely manner; the
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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
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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 12, 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
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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.
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