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§ Public · Lugano, Ticino, Switzerland
Gravity and kinetic energy storage company deploying battery systems for utility and commercial clients. Over 5 GWh awarded.
Energy Vault is a Lugano, Switzerland-based company that develops gravity and kinetic-based energy storage solutions, alongside shorter-duration battery deployments, to deliver reliable and sustainable electricity. The publicly traded organization operates a proprietary EVx platform that offers up to 85 percent round-trip efficiency and an operational lifespan exceeding 35 years. Following a $100 million Series C funding round, the firm went public via a SPAC merger in September 2021 at a $1.6 billion equity valuation, raising up to $388 million in capital. Backed by prominent institutional investors such as SoftBank Vision Fund and Saudi Aramco Energy Ventures, the enterprise has secured over 5 gigawatt-hours in global project awards valued at approximately $2 billion. Its utility and commercial customer base includes major energy providers like Nevada Energy, Jupiter Power, and PG&E. Energy Vault was founded in 2017 by Robert Piconi.
Energy Vault has raised $330.0M across 5 funding rounds.
Energy Vault has raised $330.0M in total across 5 funding rounds.
Energy Vault has raised $330.0M in total across 5 funding rounds.
Energy Vault's investors include Yorkville Advisors, Korea Zinc, Prime Movers Lab, Gordon Crawford, A.T. Gekko, Crexa Capital Advisors, Green Storage Solutions Venture I, Helena, Idealab X, Pickering Energy Partners, SailingStone Global Energy Transition, Saudi Aramco Energy Ventures.
Energy Vault is a technology company specializing in innovative, utility-scale energy storage solutions that enable reliable, affordable renewable energy integration. Its flagship product, the EVx gravity-based storage system, uses composite blocks lifted and lowered by cranes to store and dispatch electricity, providing long-duration storage with high efficiency and durability. The company serves utilities, independent power producers, and large industrial energy users, addressing the critical problem of renewable energy intermittency by offering cost-effective, scalable storage that supports grid resiliency and 24/7 clean power delivery. Energy Vault has demonstrated strong growth momentum with over 1.4 GWh of deployed storage capacity since 2023 and customer engagements exceeding $9 billion in demand[1][2][3][4][7].
Founded in 2017 and headquartered in Switzerland, Energy Vault was created by a team of energy and technology experts aiming to revolutionize energy storage by applying fundamental physics—gravity and potential energy—combined with advanced materials science and AI-driven software. The idea emerged from the need to find a sustainable, low-cost alternative to chemical batteries and pumped hydro storage. Early pivotal moments include unveiling its technology in 2018 and securing significant investments and partnerships, such as a $50 million licensing deal with China’s Atlas Renewable, which helped build the first full-scale G-Vault installation. The company has since evolved from focusing solely on gravity storage hardware to offering a diverse portfolio including battery and hydrogen storage technologies, alongside software platforms for energy asset management[2][3][6][8].
Energy Vault rides the global trend toward decarbonization and renewable energy expansion, addressing the critical bottleneck of energy storage for grid reliability. The timing is crucial as renewable penetration increases, requiring scalable, long-duration storage to balance supply and demand. Market forces favor Energy Vault’s technology due to rising battery costs, supply chain constraints, and the need for sustainable, circular economy solutions. By integrating gravity, battery, and hydrogen storage with sophisticated software, Energy Vault influences the broader ecosystem by accelerating renewable adoption, reducing reliance on fossil fuels, and enabling new business models for energy asset management[2][3][4][5].
Energy Vault is positioned to expand its footprint by scaling deployments globally and deepening its technology portfolio, including hybrid solutions combining gravity, battery, and hydrogen storage. Future trends shaping its journey include increasing demand for long-duration storage, grid modernization, and digital energy management. Its influence may grow as it transitions from a product-focused company to a solutions provider and asset owner, potentially reshaping how utilities and industries procure and operate energy storage. Continued innovation in materials, software, and integration will be key to maintaining competitive advantage and supporting the global clean energy transition[3][6][8].
Energy Vault has raised $330.0M across 5 funding rounds. Most recently, it raised $50.0M Debt in September 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 29, 2025 | $50M Debt Financing | Yorkville Advisors | — | Announced |
| Jan 6, 2022 | $50M Venture Round | Korea Zinc | — | Announced |
| Aug 1, 2021 | $100M Series C | Prime Movers LAB | Gordon Crawford, A.T. Gekko, Crexa Capital Advisors, Green Storage Solutions Venture I, Helena, Idealab X, Pickering Energy Partners, SailingStone Global Energy Transition, Saudi Aramco Energy Ventures, Softbank | Announced |
| Jul 20, 2021 | $20M Venture Round | Helena | — | Announced |
| Aug 14, 2019 | $110M Series B | SoftBank Vision Fund | — | Announced |