Energy Vault Holdings Inc. has announced the successful completion and commencement of commercial operations for the Cross Trails Battery Energy Storage System $(BESS)$ located in Scurry County, Texas. This 57 MW two-hour system is the first asset to be placed in service under the company's "Own & Operate" growth strategy. The project, which was completed ahead of schedule, operates under a 10-year offtake agreement with power marketer Gridmatic, providing a guaranteed revenue floor with additional upside potential. This achievement underscores Energy Vault's commitment to delivering sustainable, grid-scale energy storage solutions while enhancing shareholder value.
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