Energy Vault, a utility-scale energy storage project developer, announced that it has entered into an exclusivity agreement for a $300 million preferred equity investment.
The investment aims to support the launch of Asset Vault, a fully consolidated subsidiary of Energy Vault dedicated to developing, owning, and managing energy storage assets. These assets can be standalone or combined with generation facilities, aimed at targeting the most attractive energy markets worldwide.
The investment is also expected to support Energy Vault’s IPP strategy to develop, own, and operate energy storage assets, thereby speeding up the deployment of 1.5 GW in key priority markets.
Energy Vault will retain voting and operational control of Asset Vault, leveraging its fully integrated development, EPC, and asset management capabilities.
By self-performing engineering, procurement, and construction for projects within the Asset Vault platform, Energy Vault expects to generate incremental consolidated revenue and higher gross margins.
“The $300 million investment and the creation of Asset Vault unlock the full potential of our “Own and Operate” storage IPP strategy with immediate investment flexibility,” said Robert Piconi, Chairman of the Board and CEO of Energy Vault. “By combining long-term contracted revenues with strategic capital and integrated, self-performed project execution, we are well-positioned to scale resilient, mission-critical energy infrastructure to meet the current needs driven by the penetration of renewable energy and the massive increases in energy demand driven by data center AI infrastructure.”
The company recently secured a $18 million project financing from Eagle Point Credit Management, a private credit investment manager. The funding will support the company’s 57 MW/114 MWh Cross Trails Battery Energy Storage project.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage report, announced debt and public market financing for Energy Storage companies in 1H 2025 came to $7.4 billion in 19 deals, a 43% decrease YoY compared to $13 billion in 16 deals in 1H 2024.
