• Energy Vault, a Swiss specializer in gravity and kinetic energy-based long-duration energy storage technology, has entered into an energy storage agreement with DG Fuels, a pioneer in sustainable aviation fuel (SAF) and diesel fuel. The purchase order marks commercialization for Energy Vault’s proprietary technology.

• Under the agreement, Energy Vault will supply 1.6 gigawatt-hours (GWh) of energy storage to support DG Fuels’ sustainable aviation fuel projects. The initial project will supply 500 megawatt-hours (MWh) of energy storage in Louisiana, and it is expected to begin in mid-2022. The additional two projects will be deployed in British Columbia and Ohio.

• This agreement will generate up to USD 250 million in revenue for Energy Vault across the three projects. DG Fuels will deploy Energy Vault’s storage systems to power its carbon conversion technology. Moreover, Energy Vault’s photovoltaic solar-powered tower will also provide water electrolysis for both hydrogen and oxygen feedstock production of DG’s SAF.

<ul><li> Analyst QuickTake: The agreement coincides with the Energy Vault’s previously announced commercialization plans of starting US deployments toward the latter part of 2021. The company’s commercialization plans further include a global scale-up across the Middle East, Europe, and Australia in 2022. Energy Vault also has an ongoing SPAC deal to list on the New York Stock Exchange in the first quarter of 2022.</ul>