Energy Vault expects $70-80M from project financings & ITCs, targets Q4 2025 positive Adj. EBITDA

Energy Vault Holdings, Inc.

Calistoga (CA) and Cross Trails (TX) financings expected to yield ~$60-65M from project debt + ITC monetization.
Additional Snyder, TX microgrid ITC expected ~$10-15M, bringing total cash inflows to $70-80M.
Closings expected in Q2-Q3 2025, starting with Calistoga in April 2025.
No Board authorization to use ATM facility; management confirms no usage.
Management expects to achieve Adjusted EBITDA positive in Q4 2025.

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