Mentioned:
Energy Vault has just struck a new deal in Texas. And it could be more than half a billion dollars.
What’s happening:
- Energy Vault (NYSE: NRGV) has landed a new deal to deploy 1.25 gigawatts of integrated power infrastructure and battery energy storage systems for a data centre located in Texas
Why it matters:
- Energy Vault has publicly stated that they new deal is expected to generate between $500M USD and $600M USD of total revenue
Going deeper:
- The data centre in Texas will require Energy Vault to deploy generators, battery energy storage systems, power conversion equipment and energy software to produce enough electricity to run artificial intelligence workloads
- Energy Vault has been making a flurry of deals in Texas lately, including previously purchasing a 175 megawatt battery storage project located near Dallas, Texas
Market reaction:
- Shares of Energy Vault surged by more than +17% following the announcement
