Energy Vault Secures $300M Investment to Launch ‘Asset Vault’ and Accelerate 1.5GW Storage Projects

Energy Vault Holdings Inc NRGV:

• ENERGY VAULT ENTERS INTO EXCLUSIVE AGREEMENT FOR $300 MILLION PREFERRED EQUITY INVESTMENT TO LAUNCH “ASSET VAULT”, ACCELERATING THE EXECUTION OF 1.5GW OF GLOBAL ENERGY STORAGE PROJECTS UNDER THE COMPANY’S IPP BUILD, OWN AND OPERATE STRATEGY

• ENERGY VAULT HOLDINGS INC - RETAINS CONTROL OF ASSET VAULT

• ENERGY VAULT HOLDINGS INC - UPON CLOSING,ASSET VAULT TO BE FORMED AS CONSOLIDATED SUBSIDIARY