Energy Vault achieves a Corporate
Sustainability Assessment (CSA) score of 68 (out of 100) according
to S&P Global ESG Ratings, ranking in the 98th percentile of
Machinery and Electrical Equipment (IEQ) industry companies to
date
Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault"), a
leader in sustainable, grid-scale energy storage solutions,
announced today it received a Corporate Sustainability Assessment
(CSA) score of 68 (out of 100) as reported in the 2024 S&P
Global Environmental, Social, and Governance (ESG) Ratings. This is
the third time that the company has been evaluated by S&P, and
represents a 36% (or 18-point) increase over the Company’s 2023
rating.
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Among the 195 companies assessed to date in the IEQ industry,
Energy Vault’s score ranks in the 98th percentile. Energy Vault’s
score is the highest score achieved by any energy storage company
in the IEQ industry according to S&P Global’s 2024 ESG Ratings
to date. As of September 2, 2024, Energy Vault held the highest
score for Product Stewardship and Business Ethics in the
industry.
“We are proud to have been recognized by S&P Global for our
commitment to ESG, which is woven into the fabric of everything we
do at Energy Vault,” said Robert Piconi, CEO and Founder, Energy
Vault. “This assessment affirms the leadership role that Energy
Vault holds in the energy sector as it pertains to ESG, and we will
continue to prioritize and expand our efforts to further improve.
As a company, we remain dedicated to keeping sustainability at the
heart of our day-to-day work as we continue to expand our global
footprint in delivering turn-key energy storage systems and
software to our customers around the world.”
“Our work is rooted in sustainable values, leveraging our
products, solutions, and people to create a positive lasting impact
on the world. We are pleased to see those efforts recognized
today,” said Michael Van Parys, Director of Sustainability, Energy
Vault. “We are building upon this result, pushing the limits of
sustainability in the energy storage space and continuing our
corporate mission to accelerate the transition to renewable
energy.”
Energy Vault’s sustainability roadmap, which is influenced by
analysis performed in alignment with the Science Based Targets
Initiative (SBTi), the Global Reporting Initiative (GRI) and the
Task Force on Climate-Related Financial Disclosures (TCFD), is
centered on informing all levels of decision-making related to
advancing low carbon economies and evaluating climate-related
physical risks. In its first year as a public company, Energy Vault
established a Sustainability Task Force (STF) to encourage the
interdepartmental collaboration and cross-functional support
required to embed sustainability into the nucleus of employee
behavior. At the department level, Sustainability Task Force
members are responsible for identifying functional sustainability
metrics, setting sustainability goals, tracking ESG performance,
and contributing to sustainability-related reporting.
Energy Vault remains steadfastly committed to reducing absolute
scope 1 and 2 GHG emissions by 50% by 2030, and to achieve net-zero
emissions by 2050, in keeping with the Paris Agreement. Energy
Vault’s second annual Corporate Sustainability Report highlights
early-stage data and 2023 activations of newly established
sustainability infrastructure, systems, protocols, standards, and
metrics from which the organization measures current and future
success. That report can be accessed here.
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.
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.
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Energy Vault Investors energyvaultIR@icrinc.com
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Energy Vault (NYSE:NRGV)
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