11:03 AM EDT, 08/07/2025 (MT Newswires) -- Energy Vault Holdings ( NRGV ) entered into an exclusivity agreement for a $300 million preferred equity investment from an undisclosed infrastructure fund to establish a new subsidiary, Asset Vault, to focus on building, owning, and operating grid-scale energy storage assets.

The capital is expected to support $1 billion in capital expenditures and accelerate the timeline to generate $100 million in recurring earnings before interest, taxes, depreciation and amortization annually in the next three to four years, the company said Thursday in a statement.

The investment will accelerate the development of 1.5 gigawatts of energy storage projects across the US, Europe and Australia, Energy Vault ( NRGV ) said.

Shares of the company rose 18% in Thursday trading.

Price: 1.38, Change: +0.21, Percent Change: +18.08