Energy Vault, a Swiss NYSE-listed gravity-based, long-duration energy storage company, has executed a contract with ACEN Australia, a renewable asset developer, for two battery energy storage systems (BESS), totaling 400 MWh in Australia.

As such, Energy Vault has signed engineer, procure, and construct (EPC) and operate and maintain (O&M) agreements with ACEN for the procurement, construction, operation, and maintenance of ACEN’s 200 MW/400 MWh BESS at its New England Solar project.

Furthermore, Energy Vault will lead the construction of ACEN Australia’s New England BESS in New South Wales. The project is expected to begin in 2024 and be operational by 2026.

Analyst QuickTake: This is the second time this year that Energy Vault is making efforts to expand its geographic presence. In January 2024 , Energy Vault signed a licensing and royalty agreement with Gravity Energy Storage Solutions (GESSOL) in the Southern African Development Community (SADC). Through the agreement, GESSOL will deploy Energy Vault's gravity energy storage systems and VaultOS energy management system in the SADC region.