Energy Vault secures $300M preferred equity for Asset Vault, targeting 1.5GW storage projects

Energy Vault Holdings, Inc.

$300M non-dilutive preferred equity from a multi-billion-dollar infrastructure fund to launch Asset Vault subsidiary.
Asset Vault will develop, build, own, and operate 1.5GW energy storage across U.S., Australia, and Europe.
Targets $100M+ recurring annual EBITDA in 3-4 years from Asset Vault's contracted and operational projects.
Existing operational projects: Cross Trails BESS (57MW/114MWh) and Calistoga Resiliency Center (8.5MW/293MWh).
Energy Vault retains control and will self-perform EPC and LTSA, adding incremental cash flow to parent.

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