Startup Energy Vault Is Closer to Finishing Gravity Storage Project in China
- Unique project near Shanghai will be ready by September: CEO
- System can deliver as much as 25 megawatts for four hours
An Energy Vault unit.
Source: Energy Vault Holdings IncThis article is for subscribers only.
California startup Energy Vault Holdings Inc. is nearing completion of its first major power-storage project, one of the only systems in the world to generate electricity using gravity.
The project in Rudong, China, north of Shanghai, will be finished by September, Chief Executive Officer Robert Piconi said Wednesday in an interview at Bloomberg’s New York headquarters. It will be able to deliver as much as 25 megawatts of power for four hours.