# Energy Vault

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/energy-vault

- Industry: Renewable Energy
- Headquarters: Lugano, Switzerland
- Website: www.energyvault.com
- Total disclosed funding: $210M
- Latest round: Series C (Dec 15, 2021)
- Investors on record: 12

## About

Based in Lugano, Switzerland, Energy Vault, SA was founded in 2017 by co-founders Robert Piconi and Bill Gross. The company is a developer of energy storage that provides solutions combined with solar or wind renewable generation. Energy Vault received mezzanine capital funding from Cemex in May 2019, followed by USD 110 million in series B fundraising in August 2019 to become the SoftBank Vision Fund's first energy storage investment. In August 2021, the company raised its series C funding for USD 100 million.

The company uses physics and kinetic energy as pumped hydro but replaces the water with custom-made cylindrical blocks. The system is designed with a capacity of between 10 and 35MWh and a power output of up to 5MW., allowing energy sector companies to generate affordable renewable energy without relying on fossil fuels. 

The company plans to accelerate the global deployment of its technology. The funding in August 2021 will be used to support the company's development ambitions as it scales up multi-continent deployments of its unique EVxTM platform, including completing a robust backlog of client agreements spanning markets in the United States, Middle East, Europe, and Australia. Deployments will commence in the United States in the fourth quarter of 2021, with a worldwide ramp-up planned in 2022.

## Funding rounds

- Series C, Dec 15, 2021 — BHP Ventures
- Series C, Aug 24, 2021, $100M — Idealab, Aramco Ventures, SailingStone Capital Partners, SB Investment Advisers, Prime Movers Lab, Helena Capital, Pickering Energy Partners, A.T. Gekko, Crexa Capital Advisors LLC, Green Storage
- Series B, Aug 14, 2019, $110M — SB Investment Advisers
- Series A, Jan 1, 2018 — NeoTribe Ventures

## Investors

- NeoTribe Ventures (https://capitalatlas.ai/funds/neotribe-ventures) — Series A
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series B, Series C
- Idealab (https://capitalatlas.ai/funds/idealab) — Series C
- Aramco Ventures (https://capitalatlas.ai/funds/aramco-ventures) — Series C
- SailingStone Capital Partners (https://capitalatlas.ai/funds/sailingstone-capital-partners) — Series C
- Prime Movers Lab (https://capitalatlas.ai/funds/prime-movers-lab) — Series C
- Helena Capital (https://capitalatlas.ai/funds/helena-capital) — Series C
- Pickering Energy Partners (https://capitalatlas.ai/funds/pickering-energy-partners) — Series C
- A.T. Gekko — Series C
- Crexa Capital Advisors LLC — Series C
- Green Storage — Series C
- BHP Ventures (https://capitalatlas.ai/funds/bhp-ventures) — Series C