---
schema_version: "secwatch.filing_event.v1"
accession: "0001828536-25-000093"
form_type: "8-K"
ticker: "NRGV"
cik: "0001828536"
company_name: "Energy Vault Holdings, Inc."
filed_at: "2025-07-28T23:59:59+00:00"
generated_at: "2026-05-18T00:23:11.199655+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Energy Vault closes $18M project financing for 57 MW/114 MWh Cross Trails BESS in Texas

## Summary
- $17.8M senior secured term loan facility with Wilmington Trust; matures July 2032 at 5-6% interest.
- Cross Trails BESS reached commercial operation June 2025; 10-year offtake agreement with Gridmatic.
- Expects $12M+ additional from ITC sale agreement this quarter; levered IRR ~15%.
- Second project financing close following $28M Calistoga deal; part of 'Own & Operate' strategy.
- Facility secured by substantially all assets of project subsidiary; includes mandatory prepayment provisions.

## SEC filing metadata
- accession: 0001828536-25-000093
- form_type: 8-K
- ticker: NRGV
- cik: 0001828536
- company_name: Energy Vault Holdings, Inc.
- filed_at: 2025-07-28T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828536/000182853625000093/0001828536-25-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828536/000182853625000093/nrgv-20250723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828536-25-000093
- JSON: https://secwatch.observer/filing/0001828536-25-000093.json
- Plain text: https://secwatch.observer/filing/0001828536-25-000093.txt

## Key facts
- Debt Financings
  Energy Vault Holdings, Inc. incurred term loan of approximately $17.8 million with Wilmington Trust, National Association, as administrative agent and collateral agent, and each of the lenders party thereto at 5.00% for loans bearing interest at the alternate base rate (“ABR”) and 6.00% fo maturing July 23, 2032.
  - Instrument: term loan
  - Principal: approximately $17.8 million
  - Counterparty: Wilmington Trust, National Association, as administrative agent and collateral agent, and each of the lenders party thereto
  - Rate: 5.00% for loans bearing interest at the alternate base rate (“ABR”) and 6.00% fo
  - Maturity: July 23, 2032
  - Event: incurrence
  source text: collateral agent, and each of the lenders party thereto. The Credit Agreement provides for a senior secured term loan facility in an aggregate principal amount of approximately $17.8 million. The proceeds of the term loan facility are intended to support the Cross Trails energy storage project, including payment of operating costs, funding of required reserve
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828536/000182853625000093/0001828536-25-000093-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.