Energy Vault Holdings Inc. announced the successful close of $18 million in project financing for its Cross Trails battery energy storage system (BESS). This financing supports the 57 MW/114 MWh project serving the Texas ERCOT market.
This achievement marks another milestone in the company's execution of its 'Own & Operate' growth and asset management strategy. The strategy was originally outlined during the May 2024 Investor and Analyst Day.
Securing this project financing demonstrates Energy Vault's capability to fund its owned assets. It contributes to the company's financial flexibility and supports its long-term revenue generation goals.
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