Energy Vault acquires 150 MW/300 MWh BESS project in Texas; expects $250M total revenue

Energy Vault Holdings, Inc.

SOSA BESS project in ERCOT North market acquired from Savion (Shell subsidiary); construction starts Q4 2025.
Project expected to generate $17-20M annual revenue for 10-15 years (~$250M total) with recurring high-margin cash flows.
First asset formally acquired under Energy Vault's Asset Vault platform; supported by $300M OIC preferred equity investment.
B-VAULT AC product deployed; global B-VAULT portfolio exceeds 2 GWh; commercial operation targeted for Q1 2027.
Asset Vault now totals ~340 MW globally (US and Australia) with 3.5 GW active development funnel.

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