ESG score from S&P Global increased 200%
from 2022, placing Energy Vault in the 94th percentile of reporting
industry
Energy Vault shares early-stage data and 2023
activations of newly established sustainability infrastructure,
systems, protocols, standards, and metrics from which the
organization measures current and future success
Accomplishes all established 2023 goals
disclosed in 2022 Corporate Sustainability Report
Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the
“Company”), a leader in sustainable, grid-scale energy storage
solutions, today announced the publication of its 2023
Sustainability Report.
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the full release here:
https://www.businesswire.com/news/home/20240408193128/en/
Energy Vault Issues 2023 Sustainability
Report (Photo: Business Wire)
The report demonstrates Energy Vault’s commitment to providing
transparency and progress on material non-financial sustainability
& Environmental, Social, and Governance metrics. In its second
annual Corporate Sustainability Report, Energy Vault shares
early-stage data and 2023 activations of newly established
sustainability infrastructure, systems, protocols, standards, and
metrics from which the organization measures current and future
success.
Energy Vault’s sustainability roadmap is influenced by the
analysis and work performed with the standards established by the
Science Based Targets initiative (SBTi) and the Task Force on
Climate-related Financial Disclosures (TCFD). The adoption of TCFD
has become a part of Energy Vault’s risk management and strategic
planning, while the SBTi helps drive ambitious climate action,
enabling Energy Vault to set science-based emissions reduction
targets. SBTi has and will continue to inform the Company’s
decision making as it relates to a low carbon economy and
climate-related transition and physical risks. The information is
used for decision making, risk and opportunity analysis, allowing
its stakeholders to make informed decisions when investing in or
working with Energy Vault.
“At Energy Vault, we are on a mission to advance the global
transition to clean energy through a transformation of the world’s
approach to energy storage,” said Robert Piconi, Chairman and CEO,
Energy Vault. “Since our founding, we have been focused on the
development of a full suite of customer-centric energy storage
solutions designed to meet a wide range of customer needs. Today,
as we continue to expand our global footprint with new strategic
partnerships while delivering turnkey energy storage systems and
software to our customers, sustainability remains fundamental to
our corporate strategy, and deeply ingrained in our day-to-day
work. As evidence of this commitment, I’m pleased to share that
Energy Vault’s overall ESG score from S&P Global increased from
17 in 2022 to 51 in 2023, placing our company in the 94th
percentile of our industry.”
Energy Vault accomplished all established 2023 goals disclosed
in its 2022 Corporate Sustainability Report:
- Completed a climate risk analysis aligned with the Task Force
on Climate-related Disclosures (TCFD), of which the full report can
be viewed on the Company’s website.
- Joined the United Nations Global Compact (UNGC) – Energy Vault
employees have participated in UNGC Accelerator programs and will
continue to engage in 2024.
- Submitted near-term targets to the Science Based Targets
initiative (SBTi), and they have been validated by the 3rd party
non-profit.
- Enhanced Global Reporting Initiative (GRI) disclosures.
- Continued participation in the S&P Global Corporate
Sustainability Assessment (CSA), showing a 200% increase from the
Company’s 2022 ESG score.
“While our mission at Energy Vault revolves around the goal of
accelerating the global clean energy transition, we are equally
committed to prioritizing responsible business practices,
transparency in business disclosures, and circular economic
strategies,” said Michael Van Parys, Director of Sustainability,
Energy Vault. “As the business continues to grow and evolve to meet
the growing demand for tailored energy storage solutions around the
globe, I’m confident in our ability to continue to progress toward
and ultimately achieve our sustainability goals moving
forward.”
Energy Vault invites all of its stakeholders across the world to
read its 2023 Sustainability Report at the following link:
Sustainability Report 2023
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage
solutions designed to transform the world's approach to sustainable
energy storage. The Company's comprehensive offerings include
proprietary gravity-based storage, battery storage, and green
hydrogen energy storage technologies. Each storage solution is
supported by the Company’s hardware technology-agnostic energy
management system software and integration platform. Unique to the
industry, Energy Vault’s innovative technology portfolio delivers
customized short-and-long-duration energy storage solutions to help
utilities, independent power producers, and large industrial energy
users significantly reduce levelized energy costs while maintaining
power reliability. Utilizing eco-friendly materials with the
ability to integrate waste materials for beneficial reuse, Energy
Vault’s EVx™ gravity-based energy storage technology is
facilitating the shift to a circular economy while accelerating the
global clean energy transition for its customers. Please visit
www.energyvault.com for more information.
Forward-Looking Statements
This press release includes forward-looking statements that
reflect the Company’s current views with respect to, among other
things, the Company’s operations and financial performance.
Forward-looking statements include information concerning possible
or assumed future results of operations, including descriptions of
our business plan and strategies. These statements often include
words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,”
“intend,” “project,” “forecast,” “estimates,” “targets,”
“projections,” “should,” “could,” “would,” “may,” “might,” “will”
and other similar expressions. We base these forward-looking
statements or projections on our current expectations, plans, and
assumptions, which we have made in light of our experience in our
industry, as well as our perceptions of historical trends, current
conditions, expected future developments and other factors we
believe are appropriate under the circumstances at the time. These
forward-looking statements are based on our beliefs, assumptions,
and expectations of future performance, taking into account the
information currently available to us. These forward-looking
statements are only predictions based upon our current expectations
and projections about future events. These forward-looking
statements involve significant risks and uncertainties that could
cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements, including changes in our strategy,
expansion plans, customer opportunities, future operations, future
financial position, estimated revenues and losses, projected costs,
prospects and plans; the uncertainly of our awards, bookings and
backlogs equating to future revenue; the lack of assurance that
non-binding letters of intent and other indication of interest can
result in binding orders or sales; the possibility of our products
to be or alleged to be defective or experience other failures; the
implementation, market acceptance and success of our business model
and growth strategy; our ability to develop and maintain our brand
and reputation; developments and projections relating to our
business, our competitors, and industry; the ability of our
suppliers to deliver necessary components or raw materials for
construction of our energy storage systems in a timely manner; the
impact of health epidemics, on our business and the actions we may
take in response thereto; our expectations regarding our ability to
obtain and maintain intellectual property protection and not
infringe on the rights of others; expectations regarding the time
during which we will be an emerging growth company under the JOBS
Act; our future capital requirements and sources and uses of cash;
the international nature of our operations and the impact of war or
other hostilities on our business and global markets; our ability
to obtain funding for our operations and future growth; our
business, expansion plans and opportunities and other important
factors discussed under the caption “Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2023 filed with
the SEC on March 13, 2024, as such factors may be updated from time
to time in its other filings with the SEC, accessible on the SEC’s
website at www.sec.gov. New risks emerge from time to time, and it
is not possible for our management to predict all risks, nor can we
assess the impact of all factors on our business or the extent to
which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements we may make. Any forward-looking
statement made by us in this press release speaks only as of the
date of this press release and is expressly qualified in its
entirety by the cautionary statements included in this press
release. We undertake no obligation to publicly update or review
any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by any applicable laws. You should not place undue
reliance on our forward-looking statements.
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Energy Vault: Investors: energyvaultIR@icrinc.com
Media: media@energyvault.com
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