Energy Vault Holdings Inc. (NYSE: NRGV) has secured an additional $50 million in corporate debenture financing from YA II PN, Ltd. This new working capital facility complements the previously announced $300 million preferred equity investment for "Asset Vault," providing Energy Vault with increased financial flexibility. The company's Chief Financial Officer, Michael Beer, highlighted that this funding will support the continued growth in energy storage project development and execution.
The $50 million facility is separate from the pending $300 million preferred equity investment with a leading infrastructure investor. Once finalized, Asset Vault will be established as a fully consolidated subsidiary to house Energy Vault's storage assets, supported by long-term offtake agreements to ensure project monetization.
Energy Vault's growing portfolio of owned and operated energy storage projects includes operational facilities in Texas and California, the recently acquired 1 GWh Stoney Creek project in Australia, and a robust pipeline of approximately 3 GW of battery energy storage systems across the U.S., Europe, and Australia.
Since 2024, the company has executed an "own & operate" asset management strategy, generating predictable, recurring, and high-margin tolling revenue streams. This positions Energy Vault for continued growth in the rapidly evolving energy storage asset infrastructure market. As a result of these announcements, the company's shares have moved -5.02% on the market, and are now trading at a price of $3.03. For more information, read the company's full 8-K submission here.
