<ul><li>Energy Vault, an NYSE-listed Swiss gravity-based long-duration energy storage company, reported signing two contracts with Jupiter Power, a US battery energy storage developer. Under the contracts, Energy Vault will supply equipment, engineering, procurement, construction, and balance of plant services as well as its Energy Vault Solutions energy management software for two of Jupiter’s battery energy storage projects.</ul>

• The two storage projects are: 1) a 100 MW battery energy storage system in Texas which will provide energy and ancillary services to ERCOT and 2) a 10 MW system in California which will provide grid services through the CAISO Resource Adequacy program. Both projects are expected to be completed in 2023.

<ul><li> Analyst QuickTake: Energy Vault recently reported its Q2 2022 revenue which took a significant dip QoQ. The company has also received strategic investments from Korea Zinc and Atlas Renewables this year for the use of Energy Vault’s technology in projects taking place in Australia and China.</ul>