Energy Vault Holdings, Inc. announced the successful closing of its $300 million preferred equity investment with Orion Infrastructure Capital (OIC). This investment officially launches 'Asset Vault', the company's fully consolidated subsidiary.
Asset Vault is dedicated to developing, building, owning, and operating energy storage assets globally. This strategic move is central to Energy Vault's pivot towards generating predictable, high-margin recurring revenue streams.
The $300 million investment is non-dilutive to common shareholders and is expected to enable over $1 billion in capital expenditures and project financing. This funding will accelerate the execution of 1.5 gigawatts of global energy storage projects under the company's IPP Build, Own and Operate strategy.
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