• Energy Vault, a Swiss gravity and kinetic energy-based long-duration energy storage company, has signed a memorandum of understanding (MoU) with Broken Hill Proprietary (BHP), an Australian natural resources provider, to deploy the company’s proprietary technology across BHP’s mining operations.

• The partnership will enable Energy Vault to expand its geographical footprint into Australia and other markets in which BHP operates, starting from 2022.  

<ul><li>As part of the collaboration, BHP Ventures, the venture capital arm of BHP, made a strategic investment into Energy Vault, at the time of the company’s Series C funding round in August.</ul>

<ul><li> Analyst QuickTake: Having made its first US sale in October, Energy Vault plans for a global scale-up across the Middle East, Europe, and Australia in 2022. The MoU with BHP could be a part of these commercialization plans. The company also has an ongoing SPAC deal to list on the NYSE in the first quarter of 2022.</ul>