All updates

All updates

icon
Filter
Partnerships
Energy Vault commercializes its technology with DG Fuels
Alternative Energy
Oct 27, 2021
This week:
M&A
Coralogix acquires AI observability platform Aporia for USD 50 million
Generative AI Infrastructure
Dec 23, 2024
Product updates
Pimax announces compact Dream Air VR headset for USD 1,900
Extended Reality
Dec 23, 2024
Funding
HuLoop raises Series A funding from Mighty Capital
Workflow Automation Platforms
Dec 23, 2024
M&A
Fiserv to acquire Payfare for undisclosed sum to enhance embedded finance solutions
Financial Wellness Tools
Dec 23, 2024
M&A
Fiserv to acquire Payfare for undisclosed sum to enhance embedded finance solutions
FinTech Infrastructure
Dec 23, 2024
Funding
Meight raises EUR 3.4 million in funding led by Cusp Capital
Smart Mobility Information
Dec 23, 2024
Regulation/policy
Desktop Metal sues Nano Dimension over merger compliance
Additive Manufacturing
Dec 23, 2024
Management news
Nexa3D scales back operations amid financial crisis
Additive Manufacturing
Dec 23, 2024
Funding
Fraction AI raises USD 6 million in pre-seed funding to scale hybrid data labeling
Machine Learning Infrastructure
Dec 23, 2024
Last week:
Partnerships
Rocket Lab launches sixth Synspective radar satellite as part of ongoing partnership
Space Travel and Exploration Tech
Dec 21, 2024
Alternative Energy

Alternative Energy

Oct 27, 2021

Energy Vault commercializes its technology with DG Fuels

Partnerships

  • 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> 

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.