Energy Vault to Build 57 MW BESS in Texas, Inks Offtake Deal with Gridmatic

Energy Vault Holdings Inc. has unveiled plans to deploy a 57 megawatt (MW)/114 megawatt-hours (MWh) battery energy storage system (BESS) in Scurry County, Texas. The company said in a media release that it has also signed a ten-year offtake agreement with Gridmatic.

The company said that the Cross Trails BESS, expected to start commercial operation by the summer of 2025, will provide energy and ancillary services to support renewable energy production and improve grid resiliency in the Electric Reliability Council of Texas (ERCOT) region.

The offtake agreement with Gridmatic is expected to begin in the second quarter of 2025. Gridmatic has contracted to operate over 300 MW of battery storage projects across the ERCOT and CAISO markets.

“This project marks another milestone in Energy Vault’s global buildout of an energy storage infrastructure that follows recently announced projects in the U.S., Europe, and Australia where the company will build, own, and operate energy storage systems and microgrids under long-term power purchase and tolling agreements”, the company said.

“We continue to execute rapidly and advance our strategy announced earlier this year in May to leverage our deep battery system and software expertise to efficiently build, own and operate energy storage assets”, said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “Owning energy storage infrastructure plays a critical role in our commitment to deliver long-term, sustainable shareholder value while allowing the company to more profitably and efficiently capitalize on the growing global demand for energy storage solutions”.

Matt Wytock, Chief Executive Officer of Gridmatic, said, “This BESS will deliver increased grid reliability and affordability for Texas residents as load growth continues to accelerate”.

The BESS system will be built using Energy Vault’s proprietary products.

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