The acquisition also expands Energy Vault’s development pipeline under Asset Vault, the company’s wholly owned subsidiary dedicated to financing, developing, owning and operating energy storage and AI infrastructure assets.
Energy Vault further stated that a team of experienced development professionals will join the company to continue the development, construction and operations of the acquired portfolio.
The company additionally secured a credit facility commitment of up to US$40 million from investment firm S2G Investments, which it says will support the development, construction and operations of the acquired portfolio. The credit facility commitment represents a continuation of S2G’s strategic partnership with Goshe.
In August, Energy Vault announced it would supply BESS, grid-forming power conversion systems (PCS), and AI infrastructure control software, supporting an initial deployment totalling 1.25GW of power infrasturcutre for an undisclosed data centre customer.
The company stated that it expects this agreement to generate approximately US$500-$600 million in revenue during the second half of 2026 and 2027.
The company, originally focused on a novel gravity-based storage technology, pivoted to add a battery energy storage system integrator arm and has since continued to pivot with a shift from an engineering, procurement, and construction (EPC) company to an independent power producer (IPP) business model.
Developer SMT Energy has announced an equity partnership with infrastructure investment firm Climate Adaptive Infrastructure (CAI) for up to US$268 million at the parent-company level.
Announced 22 September, the US$268 million figure is in addition to US$32 million previously deployed by CAI into SMT assets.
The companies stated that with other sources of project capital, CAI’s equity is expected to enable SMT to develop and build energy infrastructure “with an aggregate value significantly greater than the equity provided.”
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