Energy Vault Holdings Secures FIRB Approval for Full Acquisition of Stoney Creek Battery Energy Storage System in Australia

Reuters

Aug 07

Energy Vault Holdings Secures FIRB Approval for Full Acquisition of Stoney Creek Battery Energy Storage System in Australia

Energy Vault Holdings, Inc. (NYSE: NRGV), a global leader in grid-scale energy storage solutions, has received approval from the Foreign Investment Review Board (FIRB) for the full acquisition of the Stoney Creek Battery Energy Storage System $(BESS)$ project in Northern New South Wales, Australia. This marks Energy Vault's first non-US project developed under its global "Own & Operate" asset strategy. The 125 MW/1,000 MWh project is now part of Energy Vault's international portfolio, furthering its long-term commitment to Australia's energy transition. The acquisition supports a 14-year offtake agreement and is projected to enhance grid reliability and flexibility in New South Wales while delivering approximately $30 million in annual, recurring EBITDA over the next 15+ years.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Energy Vault Holdings Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250807895968) on August 07, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Energy Vault Holdings Inc. published the original content used to generate this news brief via Business Wire (Ref. 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