ClimateTicker

Energy Vault Holdings

NYSE: NRGV63Credible Contributor· Provisional
0 followersEnergy storage·Westlake Village, CA, US·Founded 2017
www.energyvault.com

Develops gravity-based and battery energy storage systems alongside an energy management software platform for utilities, IPPs, and industrial and data-centre clients.

63/100
Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: mediumData confidence: medium

Why it's on ClimateTicker

Energy Vault develops grid-scale energy storage systems—including novel gravity-based and battery technologies—that directly enable higher penetration of intermittent renewable energy, making it a genuine mitigation-sector player. Its SBTi-validated targets and consecutive S&P Global ESG score improvements lend credibility, but the company remains pre-profitability, has a history of early-stage securities-disclosure controversies, and openly acknowledges 'fossil fuel hybrid solutions' in its portfolio, tempering the purely-green narrative. Investors should treat the climate impact as real but nascent: commercial scale is still being proven and independent third-party quantification of avoided emissions is thin.

mitigationEnergy Vault earns revenue by selling, licensing, and increasingly owning-and-operating utility-scale battery and gravity energy storage systems (BESS and GESS) bundled with its energy management software platform, with an evolving 'Own & Operate' tolling strategy intended to generate recurring, high-margin cash flows.

Commitments & Certifications

other: Score: 74/100 — 98th percentile (IEQ industry) ↗SBTi: Near-term and long-term targets validated ↗

Controversy & Greenwashing Watch

lowFossil Fuel Hybrid Solution Marketing

The company's CEO publicly acknowledged that its technology portfolio includes 'fossil fuel hybrid solutions' to meet growing power demand, creating a tension with its green energy positioning.source ↗

lowPersistent Net Losses and Going-Concern Risk Language

Energy Vault has historically incurred negative operating cash flows and operating losses and may continue to do so, relying on equity/debt raises and flagging potential stockholder dilution in its SEC filings.source ↗

medium2022 Securities Fraud & Market Manipulation Lawsuit

Shortly after its 2022 SPAC merger, Energy Vault faced a securities fraud and market manipulation lawsuit alleging misrepresentation of its $50M License and Royalty Agreement with Atlas Renewable and China Tianying regarding revenue-generating capabilities.source ↗

mediumDisclosure Questions Over China Gravity Project Scope

A 2022 securities investigation raised concerns that Energy Vault's 100MWh China demonstration project was inadequate relative to commercial-scale claims and that related disclosures may have misled investors.source ↗

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