LUGANO, Switzerland & WESTLAKE VILLAGE, Calif. & HOUSTON & BEIJING–(BUSINESS WIRE)–Energy Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) (“Energy Vault), a leader in sustainable, grid-scale energy storage solutions, today announced the groundbreaking for the first EVx™ deployment in China.
The 100 MWh gravity-based EVx system is being built adjacent to a wind farm and national grid site in Rudong, Jiangsu Province located outside of Shanghai to augment and balance China’s national energy grid through the delivery of renewable energy to the State Grid Corporation of China (SGCC). SGCC is the world’s largest utility and provides power to more than 1.1 billion Chinese citizens in 26 provinces, autonomous regions and municipalities, covering 88% of Chinese national territory.
Commencement of EVx construction follows the previously announced License and Royalty…