The partnership will focus on deployment of the
Energy Vault B-Nest™, a proprietary hyperscale energy storage
solution comprised of a multi-story battery system, for data center
sites
The B-Nest™ provides 8X the energy density vs
standard battery solutions, enabling space-constrained sites
without firm power to accelerate deployment via interruptible
utility power contracts while ensuring 24/7 availability
Energy Vault Holdings Inc. (NYSE: NRGV) (“Energy Vault” or the
“Company”), a leader in sustainable, grid-scale energy storage
solutions, today announced a strategic partnership with RackScale
Data Centers (“RSDC”), an emerging data center developer. This
partnership aims to accelerate the delivery of 2GW of firm, primary
power to data center sites developed by RSDC through the deployment
of Energy Vault's proprietary B-Nest™ hyperscale battery energy
storage system. The parties aim to begin construction at data
center sites in 2026.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241211440126/en/
Energy Vault and RackScale Data Centers
Announce Strategic Partnership to Accelerate Delivery of 2GW of
Power to Data Centers (Photo: Business Wire)
The B-Nest™ is a proprietary multi-story structure designed to
house batteries for onsite energy storage, serving
space-constrained project sites. Capable of storing up to 1.6GWh of
energy per acre, the B-Nest represents a more than 8X increase in
installed site energy density over traditional ground-mounted
Battery Energy Storage system (BESS) installations. This ultra-high
energy density enables the B-Nest to provide each data center with
full primary power for 10+ hours. When paired with an interruptible
utility power contract, the B-Nest can ensure full power
deliverability to each data center during demand response events.
The result is significant acceleration of data center project
development timelines enabled by rapid delivery of firm power,
allowing RSDC to avoid issues created by the shortage of available
grid power seen across the industry.
The unprecedented demand for new data center construction has
encountered increasingly long wait times for new facilities to
access firm grid power from local utilities. As utilities work to
expand their generation fleets to meet the sudden surge in power
demand, data center interconnection wait times can now stretch up
to five years or more. This challenge presents a severe bottleneck
for data center developers and is most acute in urban settings
where data center demand and utility grid congestion are at their
highest.
The partnership between Energy Vault and RSDC includes the
planned deployment of 2GW/20GWh of B-Nest infrastructure that will
drive a rapid portfolio build-out, with the ability to capture
supplementary revenue through participation in demand response
programs with local utilities. By taking part in demand response
events during times of system strain, RSDC will also help to
stabilize the grid and supports local utilities’ efforts to expand
renewable power for the data center industry.
Goldman Sachs Research estimates that data center power demand
will grow a staggering 160% by 2030, driven in large part by
Artificial Intelligence. At present, data centers worldwide consume
1-2% of overall power, with consumption expected to exceed 4% by
the end of the decade. In the US and Europe, this increased demand
is driving unprecedented demand for reliable, affordable, clean
power.
“With the rapid increase in power demand from the rise of the
data center sector, it is absolutely essential that renewable
energy generation and storage become key points of focus to power
the AI data center boom,” said Marco Terruzzin, Chief Commercial
and Product Officer, Energy Vault. “Through our partnership with
RackScale Data Centers, we will deliver our revolutionary B-Nest
battery energy storage system technology and establish a model for
the industry. The safety characteristics, energy density, and
economics of the B-Nest solution are ideally suited to meet the
needs of the data center market, and we look forward to working
with RSDC on the deployment of critical power infrastructure to
support their ambitious growth plans.”
"Our partnership with Energy Vault is a powerful catalyst in our
mission to develop cutting-edge data centers,” said Trent
D’Ambrosio, Chief Executive Officer, RackScale Data Centers. “The
B-Nest system's high energy density and advanced safety design are
game-changers for our operations, enabling us to accelerate firm
grid power interconnections and onsite generation to meet the needs
of our data center sites. We look forward to working closely with
Energy Vault to achieve our shared vision of a sustainable energy
future."
B-Nest™ Product Launch
Today’s announcement marks the launch of Energy Vault’s latest
long-duration energy storage system solution. The B-Nest,
introduced alongside Energy Vault’s B-VAULT™ suite of
fully-integrated battery energy storage systems designed for
reliability, flexibility, and availability, introduces a
multi-story fixed frame structure to house BESS. This design
enables data center developers to overcome space constraints
typically associated with data center sites and thermal generation
retirements in order to leverage those sites’ large interconnect
capacity. The proprietary technology behind B-Nest stems from the
IP developed for Energy Vault’s gravity-based energy storage
systems, and will incorporate structures similar to those used in
G-VAULT™ designs.
B-Nest™ has been engineered in accordance with the highest
standards for battery and fire safety and in compliance with
permitting requirements to minimize risk while maximizing economic
returns for customers. B-Nest solutions will be operated by Energy
Vault’s proprietary VaultOS Energy Management System (EMS) to
control, manage, and optimize the BESS operations.
“The B-Nest will be a major leap forward for the data center
sector, and we are incredibly excited to bring it to market in
partnership with RSDC,” said Marco Terruzzin, Chief Product
Officer, Energy Vault. “By incorporating the multi-story fixed
frame structure concept inherent in our G-VAULT technology, we are
delivering safe, cost-effective, insurable, and rapidly deployable
solutions for the date center industry. With the B-Nest we look
forward to providing data center developers the power they so
urgently need.”
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage
solutions designed to transform the world's approach to sustainable
energy storage. The Company's comprehensive offerings include
proprietary gravity-based storage, battery storage, and green
hydrogen energy storage technologies. Each storage solution is
supported by the Company’s hardware technology-agnostic energy
management system software and integration platform. Unique to the
industry, Energy Vault’s innovative technology portfolio delivers
customized short-and-long-duration energy storage solutions to help
utilities, independent power producers, and large industrial energy
users significantly reduce levelized energy costs while maintaining
power reliability. Utilizing eco-friendly materials with the
ability to integrate waste materials for beneficial reuse, Energy
Vault’s gravity-based energy storage technology is facilitating the
shift to a circular economy while accelerating the global clean
energy transition for its customers. Please visit
www.energyvault.com for more information.
About RackScale Data Centers
RackScale Data Centers is at the forefront of innovation,
delivering high-performance computing (HPC) and artificial
intelligence (AI) solutions with a commitment to scalability and
sustainability. Leveraging state-of-the-art technology and
strategic partnerships with industry leaders, we provide
cutting-edge infrastructure designed to meet the evolving needs of
modern enterprises. Our data centers are strategically located
across a geographically diverse network, ensuring optimal
performance, reliability, and energy efficiency. At RackScale, we
empower businesses to accelerate their AI and HPC workloads while
maintaining a steadfast focus on environmental responsibility and
operational excellence. Please visit www.rackscaledc.com for more
information.
Forward-Looking Statements
This press release includes forward-looking statements that
reflect the Company’s current views with respect to, among other
things, the Company’s operations and financial performance,
including the proposed partnership. Forward-looking statements
include information concerning possible or assumed future results
of operations, including descriptions of our business plan and
strategies. These statements often include words such as
“anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,”
“project,” “forecast,” “estimates,” “targets,” “projections,”
“should,” “could,” “would,” “may,” “might,” “will” and other
similar expressions. We base these forward-looking statements or
projections on our current expectations, plans, and assumptions,
which we have made in light of our experience in our industry, as
well as our perceptions of historical trends, current conditions,
expected future developments and other factors we believe are
appropriate under the circumstances at the time. These
forward-looking statements are based on our beliefs, assumptions,
and expectations of future performance, taking into account the
information currently available to us. These forward-looking
statements are only predictions based upon our current expectations
and projections about future events. These forward-looking
statements involve significant risks and uncertainties that could
cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements, including the failure to execute
definitive agreements, changes in our strategy, expansion plans,
customer opportunities, future operations, future financial
position, estimated revenues and losses, projected costs, prospects
and plans; the uncertainly of our awards, bookings, backlog, timing
of permits and developed pipeline equating to future revenue; the
lack of assurance that non-binding letters of intent and other
indication of interest can result in binding orders or sales; the
possibility of our products to be or alleged to be defective or
experience other failures; the implementation, market acceptance
and success of our business model and growth strategy; our ability
to develop and maintain our brand and reputation; developments and
projections relating to our business, our competitors, and
industry; the ability of our suppliers to deliver necessary
components or raw materials for construction of our energy storage
systems in a timely manner; the impact of health epidemics, on our
business and the actions we may take in response thereto; our
expectations regarding our ability to obtain and maintain
intellectual property protection and not infringe on the rights of
others; expectations regarding the time during which we will be an
emerging growth company under the JOBS Act; our future capital
requirements and sources and uses of cash; the international nature
of our operations and the impact of war or other hostilities on our
business and global markets; our ability to obtain funding for our
operations and future growth; our business, expansion plans and
opportunities and other important factors discussed under the
caption “Risk Factors” in our Annual Report on Form 10-K for the
year ended December 31, 2023 filed with the SEC on March 13, 2024,
as such factors may be updated from time to time in its other
filings with the SEC, accessible on the SEC’s website at
www.sec.gov. New risks emerge from time to time, and it is not
possible for our management to predict all risks, nor can we assess
the impact of all factors on our business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements we may make. Any forward-looking statement made by us in
this press release speaks only as of the date of this press release
and is expressly qualified in its entirety by the cautionary
statements included in this press release. We undertake no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by any
applicable laws. You should not place undue reliance on our
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241211440126/en/
Energy Vault Media media@energyvault.com Investors
energyvaultIR@icrinc.com
Energy Vault (NYSE:NRGV)
Historical Stock Chart
From Nov 2024 to Dec 2024
Energy Vault (NYSE:NRGV)
Historical Stock Chart
From Dec 2023 to Dec 2024
