Sustainable energy storage company Energy Vault Holdings Inc. has secured up to $50 million in corporate debenture financing from YA II PN, Ltd. to support the company’s continued development of energy storage products and scale its operations.
In a company statement, CEO Michael Beer said the new financing will provide additional working capital to help expand Energy Vault’s third-party project pipeline and clarified that this financing is separate from a previously announced $300 million preferred equity investment, which is still pending final closure. That equity deal, with a major infrastructure investor, will support the formation of Asset Vault, a new, fully consolidated subsidiary that will own and operate Energy Vault’s energy storage assets.
Energy Vault’s growing portfolio includes energy storage projects across the United States, including Texas and California, as well as international sites in Europe and Australia.
