Energy Vault Holdings, Inc. announced, along with its partners Atlas Renewable and China Tianying (CNTY), that the world?s first grid-scale EVx? gravity energy storage system (GESS) has entered the first phases of commissioning. Located outside of Shanghai in Rudong, Jiangsu Province, China, the 25 MW/100 MWh EVx GESS is built adjacent to a wind farm and a national grid interconnection site to augment and balance China?s national energy grid through the storage and delivery of renewable energy.

Commissioning began in June on the power electronics and new ultra-efficient ?ribbon? lifting systems. The system is expected to be fully grid interconnected in Fourth Quarter as planned with local state grid authorities, making EVx the world?s first commercial, utility scale non-pumped hydro gravity energy storage system. Building on the excellent round trip efficiency (RTE) results (above 75%) of the first 5 MW EV1 Tower that was grid interconnected in Switzerland in mid-2020, the new EVx system with its efficiency chain design enhancements is expected to have RTE above 80%, placing the new gravity system as a leader in energy storage efficiency versus all other forms of mechanical, thermodynamic processes, compressed air or flow battery systems. Highlighting the market adoption of Energy Vault?s gravity technology, China Tianying's subsidiary, Jiangsu Nengying New Energy Technology Development Co.

Ltd. announced last week that it has entered into an agreement with the People's Government of Huailai County to build an additional 100 MWh gravity energy storage project in Huailai County, Hebei Province, China. The project, to be located in Cunrui Town, will provide stable and eco-friendly green electricity to data centers in the region. This expansion highlights the strong demand and value proposition for Energy Vault?s gravity energy storage technology, the execution of the local construction and business development teams, and the impact that Energy Vault?s gravity energy storage technology can have in the very near term in reducing carbon emissions across the globe.