Energy Vault Holdings, Inc. (NYSE: NRGV), a leading provider of sustainable grid-scale energy storage solutions, has announced the successful testing and commissioning of the Rudong EVx™ gravity energy storage system (GESS) by China Tianying Co., Ltd (CNTY). This marks a significant advancement in China’s solar energy market and energy storage capabilities.
Rudong EVx Testing and Partnership Extension
The Rudong EVx underwent rigorous testing, including successful charging and discharging, demonstrating its efficacy as the world’s first grid-scale gravity energy storage system. Energy Vault, in collaboration with local partners Atlas Renewable and CNTY, invested in and built this innovative system, showcasing the potential of gravity storage technology in China’s transition towards renewable energy sources.
Additionally, Energy Vault announced the extension of its EVx licensing agreement with Atlas Renewable from 7.5 to 15 years. This extension underscores the pivotal role of gravity storage in China’s energy transition and its commitment to decarbonization.
Expansion Plans and Market Impact
In the past year alone, CNTY has revealed plans for eight more EVx GESS deployments across various Chinese provinces, totaling over 3.7 GWh. These expansions are poised to generate significant project revenue royalty streams for Energy Vault, further solidifying its position in the solar energy market.
Robert Piconi, Chairman and CEO of Energy Vault, emphasized the importance of these developments, stating, “This testing demonstrates that gravity energy storage technology promises to play a key role in supporting the energy transition and decarbonization goals of China, the world’s largest energy storage market.”
Government Recognition and Project Milestones
The Rudong EVx was selected as part of China’s “new energy storage pilot demonstration projects” by the National Energy Administration (NEA) in January 2024. Such recognition allows for increased oversight and support from provincial-level energy authorities, streamlining construction and compliance processes.
Commissioning of the 25 MW/100 MWh EVx GESS commenced in the second half of 2023, culminating in full grid interconnection in December. Once approved for commercial operation, the Rudong EVx will mark a significant milestone as the world’s first commercial, utility-scale non-pumped hydro gravity energy storage system.
About Energy Vault
Energy Vault develops and deploys utility-scale energy storage solutions, including gravity-based storage, battery storage, and green hydrogen energy storage technologies. Its innovative portfolio aims to reduce levelized energy costs while ensuring power reliability, thus accelerating the global clean energy transition. With a commitment to eco-friendly practices and circular economy principles, Energy Vault is driving sustainable change in the energy landscape.
Source：businesswire.com
