Energy Vault has completed a $135.5 million financing round and provided a preview of its fourth-quarter 2025 financial performance, highlighting several strategic milestones. The company reported its first positive adjusted EBITDA, estimated between $5 million and $10 million for Q4 2025, driven by year-over-year growth in revenue and gross margin. Cash reserves grew more than 300% over the past year, ending 2025 above $100 million.
As part of its strategy to diversify into high-margin markets, Energy Vault has entered the AI infrastructure sector through a multi-year framework agreement with data center solutions provider Crusoe. Under this arrangement, Energy Vault will deploy modular “powered shell” AI factory units capable of scaling up to 25 MW beginning in 2026 at its Snyder, Texas technology center. The company projects that AI infrastructure deployments will deliver EBITDA per megawatt 10 to 20 times higher than its traditional battery energy storage systems.
In parallel, Energy Vault has formed a joint development partnership with Peak Energy to create a dedicated AI compute battery platform using sodium-ion technology. The collaboration includes a 1.5 GWh supply agreement for U.S.-manufactured batteries and grants Energy Vault exclusive channel rights in Australia and Japan. These batteries will integrate with the company’s Vault OS™ energy management system to support grid services and may qualify for domestic content tax credits.
Energy Vault also continues to expand its “Own & Operate” asset portfolio, especially in Australia. In early February, Bridge Energy secured a 14-year long-term energy service agreement in New South Wales for a 100 MW / 870 MWh system. Energy Vault holds an exclusive option to acquire, build, own and operate this project, valued at approximately A$310 million, under its Asset Vault™ platform. The company has already commenced pre-construction activities on a separate 125 MW / 1 GWh project awarded in 2025.
Together, these developments reinforce Energy Vault’s approach to delivering, owning and operating grid-scale energy infrastructure at the intersection of renewable energy, long-duration storage and AI-driven demand growth.
Source: Business Wire
