Strategic partnership to expedite NuCube’s
NuSun™ microreactor, coupled with Energy Vault material science and
storage solutions, for rollout at high-energy demand locations,
including data centers
This flexible baseload solution will serve the
U.S. data center market estimated to consume 500 TWh in 2028,
equivalent to 60GW of power generation needs
Energy Vault Holdings Inc. (NYSE: NRGV) (“Energy Vault” or the
“Company”), a leader in sustainable, grid-scale energy storage
solutions, today announced a strategic partnership with NuCube
Energy, Inc. (NuCube), a breakthrough nuclear technology company,
to accelerate the delivery of NuCube’s NuSun platform. NuSun is a
dedicated deployment of NuCube technology to meet large energy use
sites such as data centers. The joint technical development effort
will focus on the integration of the NuSun platform with Energy
Vault’s VaultOS™ Energy Management System (EMS) and B-VAULT™
Battery Energy Storage System (BESS) to enable rapid deployment of
carbon-free, safe and cost-effective baseload generation with the
operational flexibility required by data centers and large energy
users.
Through this collaboration, Energy Vault and NuCube will seek to
accelerate the deployment of the NuSun platform integrated with
VaultOS software controls, grid services and accompanying energy
storage systems (ESS) by the end of 2028/beginning of 2029. Energy
Vault will leverage expertise in advanced material science
technologies from its gravity storage research and development to
expedite the development of shielding and containment systems
utilized by NuSun. This involves using specialized composite
admixtures to enhance safety while streamlining production for
large-scale deployment.
As part of the strategic partnership, Energy Vault will design,
engineer, and deploy customized software capability within its
VaultOS software suite to enable joint control of NuSun and Energy
Vault’s proprietary B-VAULT BESS product. This will enable battery
storage of excess energy generated during periods of lower demand
and dispatch of stored energy during peak demand helping to ensure
AI data centers can operate 24/7 without any power or business
disruption. The integration of the NuSun hardware stack into Energy
Vault’s VaultOS software platform will also unlock multi-unit
project deployments and enable dynamic load-following capabilities
across multiple reactor units, improving responsiveness and
efficiency for diverse energy demands.
NuSun, the result of more than 100 years of combined nuclear
industry experience, is an extremely safe, advanced nuclear
microreactor that combines cutting edge technology like TRISO fuel
and heat pipes for the production of heat and a proprietary heat to
electricity conversion system that drastically reduces the number
of components. This combination of technologies eliminates most
moving parts, creating a walk away safe nuclear reactor that
provides large energy users, such as data centers, with zero-carbon
power and continuous operation for many years without refueling.
Several modules will be assembled to match data center power needs,
allowing for streamlined permitting and scalable deployment. This
flexible baseload solution will serve the U.S. data center market
estimated to consume 500 TWh by 2028.
The NuSun platform will be fully enclosed within a
stainless-steel containment vessel and readily transportable.
NuCube’s design adopts innovative proprietary technology that will
maximize the fuel utilization overcoming some of the limitations of
very compact nuclear designs. The safety characteristics are such
that the expected emergency zone planning (EZP) of the reactor will
be limited to the building itself. To shorten the licensing
timeline, NuCube’s design uses materials and fuel which have been
characterized and, in some instances, already approved by the
Nuclear Regulatory Commission, such as TRISO fuel in order to help
reduce the risks associated with licensing and deployment.
“The NuSun™ platform will offer a cost competitive carbon free
solution to address the growing needs of power driven by the
exponential growth of data centers,” commented Cristian Rabiti,
Co-Founder and Chief Executive Officer, NuCube Energy. “Its design
simplicity is the key to achieving low cost and a high degree of
safety. By coupling the NuSun platform with Energy Vault’s digital
and hardware platform, we expect to be able to improve the
operational flexibility and efficiency of NuSun for single and
multi-unit configurations, ensuring that AI data centers can easily
incorporate NuSun in their power procurement operations and manage
fluctuations in demand to operate continuously. This ability
combined with the modularity and scalability of NuSun could
represent the missing link for establishing a highly resilient,
dependable and secure energy supply that is deployable anywhere
that the market needs.”
“As the demand for AI data centers continues to surge, ensuring
a reliable and uninterrupted power supply – and, necessarily,
storage – has become paramount,” said Marco Terruzzin, Chief
Commercial and Product Officer, Energy Vault. “By integrating
microreactors with Energy Vault’s unique approach to energy
storage, we can ensure that AI data centers have access to carbon
free electricity and operate seamlessly. Through this important
strategic partnership, Energy Vault and NuCube aim to bring NuSun
to market as the safest and most cost-effective dispatchable
carbon-free solution for the growing data center market.”
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 G-Vault™ 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.
About NuCube
NuCube is an innovative technology company designing a
revolutionary nuclear fission reactor capable of producing
electricity via high temperature heat. The company’s technology is
capable of servicing both the electrical and the high temperature
industrial heat markets and has been designed with an elegant
modular microreactor to be exceptionally safe, simple, and
economical. NuCube offers nuclear technology that will produce the
highest temperature heat for industrial customers and provide cost
competitive electricity.
For more information on NuCube, please visit
http://www.nucube.energy.
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,
including the proposed partnership. 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 the failure to execute
definitive agreements, 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 and
developed pipeline 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 timing of
permits; 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 12, 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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