Energy Vault, a sustainable grid-scale energy storage and AI power infrastructure company, announced it has closed a financing transaction generating $135.5 million in proceeds, net of initial purchaser commissions. The company also previewed selected Q4 2025 financial results, highlighting its first positive quarterly Adjusted EBITDA and continued expansion into AI infrastructure and long-duration energy storage projects in Australia.
For Q4 2025, Energy Vault reported its first positive Adjusted EBITDA of $5 million to $10 million, alongside significant year-over-year growth in revenue and gross margin. Cash increased more than 300% over the past four quarters, ending 2025 with more than $100 million on the balance sheet. The company said these milestones reflect a strengthened financial position to accelerate its energy asset management and “Own & Operate” strategy.
As part of its strategic expansion, Energy Vault formally entered the high-margin AI infrastructure market through a multi-year framework agreement with Crusoe. The agreement covers deployment of modular AI factory units at Energy Vault’s Snyder, Texas, technology center, with scalable deployments of up to 25 MW beginning in 2026. The initiative also includes expansion into “powered shell” modular data center infrastructure, which the company projects could generate EBITDA per megawatt 10–20 times higher than traditional battery energy storage system deployments for the powered shell elements alone.
Energy Vault also announced a strategic partnership with Peak Energy to co-develop sodium-ion storage solutions designed for AI-first data centers and other growth markets. The collaboration includes a 1.5 GWh supply agreement for U.S.-manufactured sodium-ion batteries, enabling eligibility for domestic content investment tax credits and supporting U.S. supply chain objectives. The batteries will integrate into Energy Vault’s Vault OS™ platform and energy management system, with the company securing exclusive channel rights in Australia and Japan.
In Australia, Energy Vault’s development partner Bridge Energy was awarded a 14-year Long-Term Energy Service Agreement under the New South Wales Electricity Infrastructure Roadmap for a 100 MW / 870 MWh system. The A$310 million project, once Energy Vault exercises its exclusive option, will be constructed, owned, and operated under the company’s Asset Vault platform using its B-VAULT™ architecture and Vault-OS™ software. The award expands Energy Vault’s recurring revenue portfolio in Australia, where it has also begun pre-construction activities for the 125 MW / 1.0 GWh Stoney Creek BESS project.
Energy Vault develops and operates utility-scale energy storage solutions across battery, gravity, and green hydrogen technologies. Since 2024, the company has executed an “Own & Operate” asset management strategy focused on generating predictable, recurring, and high-margin tolling revenue streams at the intersection of renewable energy, grid resiliency, and AI-driven power demand.
