Energy Vault (NRGV) announced that it has signed a new licensing and royalty agreement with SPML Infra. The agreement is expected to accelerate the manufacturing and deployment of Energy Vault’s B-Vault Bess technology alongside the company’s VaultOS EMS software, in the Indian market. This agreement is expected to facilitate multi-gigawatt hours of Energy Vault BESS deployments to contribute to India’s renewable energy scale-up and energy storage needs, with a minimum volume of 500 MWh over the next 12 months and a minimum targeted BESS volume of 30-40+ GWh to be manufactured over the next 10 years.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NRGV:
- Energy Vault Holdings Projects Significant Cash Inflows
- Energy Vault Reports Strong Growth and Strategic Advancements
- Energy Vault price target lowered to $1.50 from $2.50 at Roth MKM
- Energy Vault’s Earnings Call: Mixed Sentiments and Strategic Growth
- Energy Vault Holdings Delays Yearly Report Filing