Energy Vault lands $137.5M loan to fund power generation equipment

Energy Vault Holdings Inc (NRGV) acquired a 2.3-GW battery storage portfolio in the US from Goshe Energy Storage. The deal expands NRGV's energy infrastructure assets.

Energy Vault Holdings Inc. (NRGV) stock rose 5.2% after announcing strategic AI and energy storage partnerships. The company secured a 100 MW AI data center project in Italy, 275 MW of Rolls-Royce engines, and a 14-year energy service agreement in Australia. Citi raised its price target to $6, citing improved visibility. NRGV remains unprofitable but has a growing backlog of future cash flows.

Energy Vault Holdings Inc. (NRGV) shares rose 5.2% after securing a major long-duration storage contract. The company has seen steady gains, with shares climbing from $3 to $4.49. NRGV reported $203.7M in revenue but remains unprofitable. Key projects include a government-backed AI data center in Italy and a 125 MW energy project in Australia. Citi raised its price target to $6 with a Buy rating.

Energy Vault Holdings (NRGV) secured a $137.5M senior loan for power generation equipment and granted 1.24M RSUs/PSUs to new hires, tied to service and share-price targets. The loan matures in 2028.

Energy Vault Holdings (NRGV) secured a $137.5M term loan with CSC Delaware Trust and lenders for power generation equipment. The loan, maturing in 2028, has variable interest rates and is secured by the company's assets. It will fund equipment purchases and installations under an existing agreement.

Energy Vault Holdings (NYSE: NRGV) secured a $137.5M senior secured term loan facility to fund power generation equipment purchases. The loan, maturing January 2, 2028, has interest rates of 6.75% to 7.50% for SOFR loans and 5.75% to 6.50% for ABR loans. Proceeds will cover equipment, installation, and commissioning services under a separate agreement.