Energy Vault Signs 10-Year Deal With India's SPML Infra to Deploy Battery Energy Storage Technology

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Energy Vault Signs 10-Year Deal With India's SPML Infra to Deploy Battery Energy Storage Technology

, MT Newswires - 10:24 AM ET 4/2/2025 default

10:24 AM EDT, 04/02/2025 (MT Newswires) -- Energy Vault ( NRGV ) said Wednesday it has signed a new licensing and royalty agreement with Indian infrastructure development firm SPML Infra to deploy its battery energy storage technology in the country.

Energy Vault ( NRGV ) said it will deliver an initial 500 megawatt-hours of battery energy storage systems under equipment contracts valued at roughly $100 million over the next 12 months, expected to increase to a range of 30 to more than 40 gigawatt-hours over the next 10 years.

The terms of the agreement include multiyear license revenues and volume-based royalty revenue streams tied to project development in India, the company said.

The agreement is expected to have a positive impact on revenue, gross margin, and cash in the first two quarters of the year, the company added.

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