Energy Vault announces the Award of 100 MW / 870 MWh Long-Term Energy Service Agreement to its Development Partner in Australia

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Energy Vault’s development partner in Australia, Bridge Energy, has secured a 14-year Long-Term Energy Service Agreement (LTESA) for the EBOR Battery Energy Storage System (BESS) project (100 MW / 870 MWh), under the NSW Electricity Infrastructure Roadmap

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Energy Vault holds the exclusive option to acquire and construct the A$310 million project having supported Bridge through early stage development

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The project will feature Energy Vault’s proprietary B-VAULT™ technology and Vault-OS™ Energy Management System software to provide essential grid firming capacity

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Energy Vault acquired the Stoney Creek 125 MW / 1,000 MWh project in New South Wales in 2025, which also holds an LTESA, as Energy Vault rapidly expands its Australian footprint

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WESTLAKE VILLAGE, Calif. & EBOR, Australia — Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault”), a leader in sustainable, grid-scale energy storage solutions, and Bridge Energy Pty Ltd (“Bridge Energy”), an Australian developer bridging the gap between fossil fuels and renewable energy, today announced the Ebor Battery Energy Storage System (BESS) has been awarded a Long-Term Energy Service Agreement (LTESA) by AusEnergy Services.

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Located in Ebor, within the New England Region of New South Wales (NSW), the 100 MW / 870 MWh project will provide 8 hours of dispatchable capacity. The facility will play a critical role in advancing NSW’s renewable energy targets by providing essential grid firming capacity as aging coal generators retire. The system will charge during periods of excess renewable generation and discharge during peak demand, directly supporting the state’s transition to a decarbonized grid.

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Subject to obtaining the necessary contractual and regulatory approvals, Energy Vault plans to exercise its option to acquire the project. Under its exclusive agreement, Bridge Energy will partner with Energy Vault to bring the project to development completion. The Ebor BESS will then be built, owned and operated by Energy Vault under the Asset Vault platform, which integrates the company’s project ownership model backed by its deep battery technology and its operational expertise, to support the local community and the wider grid with efficient and reliable power availability while generating long-term, recurring revenue streams for the technical life of the project. The project will utilize Energy Vault’s B-VAULT™ system architecture, designed for high-performance cycling and long-duration applications, controlled by the proprietary Vault-OS™ Energy Management System to optimize asset value.

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“We continue to execute on our growth strategy in Australia in securing long term and attractive energy storage infrastructure projects, and our partner Bridge Energy is a key component of that strategy,” said Robert Piconi, Chairman and CEO of Energy Vault. “Supporting Bridge Energy on achieving this award represents another important growth milestone in advancing our Energy Asset Management strategy in owning and operating energy assets over the long term. Building on the success on the development and acquisition of the 1 GWh Stoney Creek BESS just last year providing long duration energy storage solutions, we are proud to deepen our commitment to New South Wales and the local communities and stakeholders that we support and are serving there.”

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The project is currently in the development phase with local consultation underway. Construction is expected to generate up to 60 direct jobs, with the facility targeted to commence operations in 2028. The project features a strong focus on social license through ongoing contributions to Armidale Regional Council’s dedicated future fund, known as the New England Future Fund, which will be established to administer community benefit contributions across the region.

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“The Ebor BESS is a high-quality project that will deliver reliable energy while providing long-term economic benefits to the local community,” said Daniel Hamel, CEO of Bridge Energy. “Ebor BESS will make community benefit contributions for the life of the project, and we are actively engaging with local stakeholders, trades, and service providers to ensure significant local economic activity. We look forward to working closely with Energy Vault’s experienced team to ensure this project’s swift development in moving rapidly to construction and final operation.”

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Today’s announcement represents the continued advancement of Energy Vault’s ‘Own & Operate’ asset management strategy under the Asset Vault platform, particularly in the Australian energy market. The Asset Vault framework establishes a fully integrated value chain that spans across all stages of energy storage development and operations, merging the company’s project management expertise with asset ownership to deliver stable, ongoing revenue generation.

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Asset Vault’s growing international footprint now spans from North American facilities, including the SOSA Energy Center (150 MW/300 MWh), Cross Trails BESS (57 MW/114 MWh), and the Calistoga Resiliency Center (8.5 MW/293 MWh), to an expanding Australian portfolio featuring the Stoney Creek facility (125 MW/1.0 GWh) and now exclusive option to acquire the 100MW, 870 MWh Ebor BESS project, demonstrating the swift execution and implementation of the Asset Vault platform as the scalable foundation for global energy storage deployment.

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About Energy Vault

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Energy Vault^® develops, deploys and operates utility-scale energy storage solutions designed to transform the world’s approach to sustainable energy storage. The Company’s comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company’s technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Since 2024, Energy Vault has executed an “Own & Operate” asset management strategy developed to generate predictable, recurring and high margin tolling revenue streams, positioning the Company for continued growth in the rapidly evolving energy storage asset infrastructure market. Please see www.energyvault.com for more information.