other material
confidence high
sentiment positive
materiality 0.80
Energy Vault closes $300M preferred equity from OIC, launches Asset Vault platform
Energy Vault Holdings, Inc.
- OIC commits up to $300M in Series A Preferred Units of Asset Vault; initial $35M cash contribution due by Oct 24, 2025.
- Energy Vault contributes four project entities (Calistoga, Cross Trails, Stoney Creek, and a future BESS) to Asset Vault.
- Asset Vault portfolio totals 3GW/12+GWh; expects >$100M recurring annual EBITDA within 3-4 years.
- Warrants issued: 5.6M warrants initially, with additional tranches up to $300M; exercise price at 1.25x 5-day VWAP.
- Deployment of +1.5GW pipeline across U.S., Australia, Europe; two late-stage projects expected to draw ~$200M over next 6 months.