WESTLAKE VILLAGE, CALIF. -- Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or the “Company”), a global leader in grid-scale energy storage solutions, announced its formal entry into the Swiss market with the launch of FlexGrid, a product designed for C&I customers based on a new configuration of its B-VAULT battery energy storage system (BESS) platform that is engineered for 2-25 MW industrial, commercial, and small-utility applications. The launch of FlexGrid is anchored by agreements with Schindler Group and Energie Wettingen AG, which together mark a key milestone in the Company’s strategy to enable distributed, flexible, and community-integrated energy storage infrastructure across Switzerland and Europe.

“With the launch of B-VAULT FlexGrid, we are introducing a compact, modular, easy-to-install, and regulation-ready platform tailored for Europe’s evolving energy landscape,” said Gianmarco Zorloni, Director of Business Development at Energy Vault. “The combination of the Schindler and Wettingen projects illustrates our ability to serve both industrial customers and municipal utilities with a common technology base that adapts to diverse site conditions, from dense urban settings to utility-scale networks. These installations embody what B-VAULT FlexGrid was designed to do: deliver compact, compliant, and intelligent energy storage where it’s needed most, without compromise on performance or community impact. We look forward to continued expansion in the European market as we seek to address the continent’s evolving energy demands.”

At Schindler Group’s global headquarters in Ebikon (Canton of Lucerne), Energy Vault has deployed a 2 MW/2-hour B-VAULT FlexGrid system, the company’s first installation in Switzerland. The project transforms a repurposed fire department depot into a high-tech energy storage hub, supporting Schindler’s corporate sustainability and decarbonization goals. Located within 30 meters of residential buildings, the installation demonstrates how industrial-scale energy storage can safely operate in urban and semi-urban environments. The system incorporates custom acoustic silencers, advanced noise attenuation, and reactive power compensation, ensuring quiet operation, grid stability, and voltage optimization for both Schindler’s manufacturing campus and the surrounding community. The deployment is supported by a 10-year service and maintenance agreement, reflecting both companies’ long-term commitment to reliability and sustainable operations.

Delivered at the beginning of October, the system was fully installed, commissioned, and Swissgrid-qualified in less than four weeks, underscoring Energy Vault’s ability to deliver turnkey systems rapidly and reliably. Schindler selected Energy Vault’s B-VAULT FlexGrid platform for its compact footprint, regulatory readiness, and advanced safety and monitoring capabilities.

“Energy Vault’s solution met our technical, operational, and sustainability requirements from day one,” said Herbert Stadelmann, Head Real Estate & Facility Management at Schindler Aufzüge. “The system’s quiet operation and seamless integration with our solar generation make it a benchmark project for sustainable industrial operations in Switzerland.”

Partnering with Energie Wettingen AG, an independent public utility northwest of Zurich, Energy Vault has also signed an agreement for the supply of an 8 MW/2-hour B-VAULT FlexGrid system designed for stacked, high-density deployment. The Wettingen project features a two-level stacked configuration that doubles energy and power capacity within a limited footprint, achieving 8 MW of installed power for a 2-hour solution in less than 50 square meters. Integrated with VaultOS™, Energy Vault’s proprietary energy management platform, the system will provide system services for Swissgrid, optimize local grid operations, and enable renewable expansion for the municipality.

“We chose the B-VAULT FlexGrid platform from Energy Vault because of its proven product, its modularity, and its seamless integration into our grid,” said Louis Lutz, CEO of Energie Wettingen AG. “This project helps to stabilize the electricity grid in Switzerland and to optimize the management of our own energy and power capacity in Wettingen.”

Both projects will operate under CKW’s Flexpool, Switzerland’s most advanced and diversified flexibility network.

Managed by CKW Group (part of Axpo Group), the Flexpool platform aggregates more than 1,700 assets, 15 technologies, and over 1,000 MW of qualified capacity, making it the largest of its kind in Switzerland. Through Flexpool, Energy Vault’s B-VAULTTM FlexGrid systems will trade frequency regulation, voltage stabilization, and peak-shaving services, contributing directly to Swissgrid’s ancillary markets and to national grid resilience. Before delivery, Energy Vault and CKW conducted advanced testing of the digital interface linking CKW’s Flexpool platform with Energy Vault’s VaultOS™ Energy Management System (EMS). The integration enables real-time monitoring, automated dispatch, and seamless data exchange between Energy Vault’s systems and the Flexpool platform’s aggregation network.

Energy Vault’s entry into Switzerland is supported by the establishment of a regional service and logistics center in Central Switzerland, supporting deployments and after-sales service across the EMEA region. Energy Vault’s Swiss market approach is built around a repeatable, capital-efficient model focused on compact projects, short development cycles, and attached service agreements that generate recurring revenues and long-term asset reliability.

The company’s global B-VAULT™ portfolio now exceeds 2 GWh of deployed or contracted systems, spanning Europe, North America, and Asia, and is complemented by Energy Vault’s gravity and hydrogen storage platforms for multi-duration energy applications.