NTPC Limited Signs Memorandum of Understanding with Energy Vault Holdings, Inc
April 27, 2022 at 12:02 am EDT
Share
NTPC Limited announced the signing of a Memorandum of Understanding (MOU) with Energy Vault Holdings, Inc. The objective of the MOU is to collaborate and formalize a long-term strategic partnership for deployment of Energy Vault's EVxTM gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study. The technology also offers beneficial utilization of coal ash for manufacturing of composite blocks for Energy Vault's gravity-based energy storage system.
Energy Vault Holdings, Inc. is engaged in providing sustainable, grid-scale energy storage solutions. The Company develops and deploys utility-scale energy storage solutions. The Company's comprehensive offerings include gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Companyâs hardware technology-agnostic energy management system software and integration platform. Its technology portfolio delivers customized short-and-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. Its solutions include B-Vault, G-Vault, H-Vault, and software solutions. B-Vault is its electrochemical battery energy storage solution that meets short-duration energy storage needs. G-Vault is its gravity energy storage solution that meets long-duration energy storage needs.