Energy Vault Holdings, Inc. Updates Revenue Guidance for Fourth Quarter and Full Year Ended December 31, 2022
January 18, 2023 at 08:40 am
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Energy Vault Holdings, Inc. updated revenue guidance for fourth quarter and full year ended December 31, 2022. For the quarter, the company revised guidance implies expected fourth quarter 2022 revenue of between $96 and $106 million, compared to $29 to $54 million previously required to meet its full year 2022 forecast following the reporting of third quarter 2022 results.
For the full year 2022, the company expects total revenue of $142 to $152 million, ahead of the Company's previously communicated full year 2022 guidance of $75 to $100 million.
Energy Vault Holdings, Inc. is engaged in providing sustainable, grid-scale energy storage solutions. The Company develops and deploys utility-scale energy storage solutions. The Company's comprehensive offerings include gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Companyâs hardware technology-agnostic energy management system software and integration platform. Its technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Its solutions include B-Vault, G-Vault, H-Vault, and software solutions. B-Vault is its electrochemical battery energy storage solution that meets short-duration energy storage needs. G-Vault is its gravity energy storage solution that meets long-duration energy storage needs.
ENERGY VAULT HOLDINGS, INC. 
