Built with Energy Vault’s proprietary system
design and Energy Management System, the Stanton Battery Energy
Storage System is one of the largest energy storage systems in
Southern California
The 68.8 MW/275.2 MWh battery energy storage
system is fully operational at its maximum capacity, providing
clean power and improving grid resiliency in Southern California
Edison Southwest LA region
Ribbon cutting ceremony to be held on December
6th at the Stanton Battery Energy Storage System location with
representatives from the major Californian energy agencies,
Wellhead and W Power, and Energy Vault.
Energy Vault Holdings Inc. (NYSE: NRGV) ("Energy Vault" or the
“Company”), a leader in sustainable, grid-scale energy storage
solutions, along with Wellhead Electric Company, Inc. (“Wellhead”)
and W Power, LLC, (“W Power”), a woman-owned business enterprise
that develops and owns power generation facilities in California,
today announced that the Stanton Battery Energy Storage System
(SBES) is fully operational.
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The 68.8 MW/275.2 MWh battery energy storage system (BESS) in
Stanton, California, one of the largest energy storage systems in
Southern California, has commenced full-scale operations. The
Stanton system is providing clean power and improved grid
resiliency in Southern California Edison Southwest LA region by
directly supporting and providing power for a high-demand load
center. The BESS is located nearby the 98 MW SERC Hybrid Gas
Turbine Project in Stanton, California, and in addition to
increasing the resiliency of the local electrical grid, the BESS
reduces the overall carbon intensity of the local grid.
Despite being located on a site with limited flexibility,
construction of the BESS was completed in under five months, saw
zero workplace injuries, and achieved maximum power output in
record time. Testing conducted in July 2023 during a
record-breaking heatwave met or exceeded expectations and technical
performance commitments. The BESS is now being operated at full
capacity and with continued high performance by Wellhead, one of
the most experienced developers and operators of innovative energy
generation and storage facilities in California.
Wellhead and W Power served as the developers for the project,
and Energy Vault served as the engineering, procurement and
construction (EPC) contractor and system integrator, which was
built with the Energy Vault’s proprietary X-Vault integration
platform and Vault-OS Energy Management System to control, manage
and optimize the BESS operations.
“The Energy Vault team designed and deployed the optimal energy
storage solution for our Stanton site,” said Hal Dittmer, Chief
Executive Officer, Wellhead. “Only a few days after mechanical
completion the system delivered full power to the grid validating
the quality of the design and execution. Energy Vault did an
excellent job of providing a solution that met both the challenging
energy density requirements and the equipment delivery time frames
to enable the project to go forward. We are a satisfied customer,
and we appreciate Energy Vault’s expertise, creative thinking and
collaborative partnership in bringing this project to
fruition.”
“The completion of the Stanton Battery Energy Storage System
under such a compressed timeline and challenging site conditions,
establishes a new benchmark in the energy storage industry since
the 2016 Aliso Canyon emergency. The highly collaborative approach
with Wellhead and W Power has exploited the full potential of our
X-Vault integration platform and made possible to deliver on time
and on budget a sophisticated HW/SW energy storage system that
maximizes energy density and performances,” said Robert Piconi,
Chairman and Chief Executive Officer, Energy Vault. “I would like
to thank Hal Dittmer and the Wellhead and W Power teams, who have
been excellent partners throughout the process, beginning with the
system concept and design through construction, completion and
commencement of full-scale commercial operations. Special thanks to
the team at Energy Vault that overcame many challenges and worked
collaboratively with Wellhead to deliver something that has already
made an impact to the local community and to our carbon neutrality
goals as a nation., We are proud to turn the system over to
Wellhead to provide clean energy and grid resiliency for the
community for many years to come.”
To request an invite to the December 6th ribbon cutting
ceremony, please contact: media@energyvault.com
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.
About Wellhead
Wellhead, the oldest California based independent power
producer, is a privately held developer, constructor and operator
of innovative energy generation and energy storage facilities.
Since 1982 Wellhead has developed and operated in excess of 500MW
of power generation facilities in California and afield. Wellhead
is an expert in natural gas generation, solar and storage. In 2016,
Wellhead designed and brought to market their award-winning Hybrid
Electric Gas Turbine (EGT®) solution.
About W Power
W Power is a California certified woman-and-minority owned
business enterprise (“WMBE”) focused on doing business in
California’s energy industry. We have been in business since 2011
and completed our first project in Delano, California in early 2013
and the SERC Hybrid project in Stanton, California in 2020. The
Delano, SERC Hybrid and SBES facilities are the largest woman-owned
energy projects in California.
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 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;
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 Quarterly
Report on Form 10-Q for the quarter ended June 30, 2023, and in our
Annual Report on Form 10-K for the year ended December 31, 2022, 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
Media media@energyvault.com
Wellhead info@wellhead.com
W Power CERC@wpowerllc.com
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