Energy Vault

Energy Vault develops gravity-based storage systems - enormous structures that lift an immensely heavy weight using energy generated by renewable power sources, and release it by lowering the weight over time. Compared to conventional batteries of the same capacity these are far cheaper and simpler to construct, do not need expensive and toxic materials, and can be sited anywhere there is space for them. These batteries yield up to 70% energy savings compared to current technologies, and can hold their charge indefinitely with no degradation unlike chemical batteries.

The company has constructed a major energy storage facility in China with an energy storage capacity of 100 megawatt-hours (enough to power 3,400 homes), and another smaller one in Texas. Energy Vault has also developed newer iterations of its storage systems which it plans to roll out to the wider market following the success of its initial projects.