ENERGY-VAULT
16.6.2020 09:32:07 CEST | Business Wire | Press release
Energy Vault , the creator of products that combine conventional physics with advanced machine vision software to provide utility-scale storage of clean energy, today announced its selection as one of the World Economic Forum’s Technology Pioneers of 2020. Energy Vault’s gravity-based, long duration storage technology is transforming the way electricity is stored and distributed, making it possible – for the first time – for renewable energy to be dispatchable and competitive with fossil fuels all day, every day.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200616005363/en/
The World Economic Forum Technology Pioneers of 2020 are 100 of the most promising companies that are shaping industries from agriculture to healthcare, while also working on sustainability issues and much more. As governments around the world consider the possibility of pursuing a green recovery from the Covid-19 pandemic, Energy Vault’s technology is providing a cost-effective solution for governments and commercial enterprises to “build back better” while maintaining their commitments to tackling climate change.
Consumption of fossil fuels has dropped dramatically in recent months, reducing costs while increasing demand for renewables. As renewable energy is dependent on intermittent sources, reliable and affordable energy storage is an essential component of solidifying this progress and eradicating dependence on fossil fuels.
Energy Vault’s specially designed crane uses proprietary technology and machine vision software to autonomously orchestrate the lifting and lowering of massive composite bricks made from locally sourced soil or waste materials. Able to connect directly into national utility grids or to directly support off-grid renewable generation, the storage systems are deployed by energy providers such as utilities and other large industrial energy consumers. Energy Vault installations also localize their brick manufacturing, construction and ongoing maintenance, bolstering local economies and creating jobs. The company’s first utility-scale, commercial demonstration unit is under final commissioning in Switzerland and will be directly connected to the Swiss national grid in order to demonstrate full charging and continuous power discharging capabilities.
The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society. The Technology Pioneers community is an integral part of the larger Global Innovators Community of start-ups at the World Economic Forum.
“We are pleased that the World Economic Forum continues to recognize both innovative and economic solutions that will help reduce our fossil fuel dependency,” said Robert Piconi, Chief Executive Officer and Co-Founder, Energy Vault. “Now is the time for the world to take substantive action. In the U.S., for example, the pandemic period has resulted in renewable energy consumption surpassing coal power for the first time in 130 years. Government policy makers and private sector companies have an historic opportunity to make a bold and fundamental choice: seize this opportunity to invest in powering our future economic growth with clean energy to preserve our planet for all future generations to come, making 2020 the inflection point in carbon emissions in our world’s history – or return to carbon emission growth to meet energy demand through the irresponsible expansion of fossil fuel energy generation, jeopardizing the future quality of life of our global ecosystems. A clean, sustainable recovery will help avert another devastating global crisis, and Energy Vault is uniquely positioned to make that an affordable reality while supporting local economies as they recover. As a member of the Global Innovators Community, Energy Vault will continue to pursue our mission to accelerate the pace of sustainable clean energy adoption while stimulating economic recovery to more locations and institutions around the world.”
“We’re excited to welcome Energy Vault to our 20th cohort of Technology Pioneers,” said Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. “Energy Vault and its fellow pioneers are developing cutting-edge technologies all over the world. Beyond their innovations, these firms are contributing greatly to improving the state of the world.”
This year’s cohort selection marks the 20th anniversary of the Technology Pioneers community. Throughout its 20-year run, many Technology Pioneers have continuously contributed to advancement in their industries, while some have even gone on to become household names. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
Following Energy Vault’s selection as Technology Pioneer, Mr. Piconi will be invited to participate at World Economic Forum activities, events and discussions throughout the year. Energy Vault will also contribute to Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.
About WEF Technology Pioneers
2020 Technology Pioneer firms are shaping the future by advancing technologies such as sustainability, AI, IoT, robotics, blockchain, biotechnology and many more. The diversity of these companies extends to their leadership as well, as more than 25 percent of 2020 Technology Pioneers are female led. The firms also come from regions all around the world, extending their community far beyond Silicon Valley.
Technology Pioneers have been selected based on the community’s selection criteria, which includes innovation, impact and leadership, as well as the company’s relevance with the World Economic Forum’s Platforms .
The full list of and information on this year’s Technology Pioneers can be found here . More information on past winners, information on the community and the application link can be found here .
About Energy Vault
Energy Vault is the creator of renewable energy storage products that are transforming the world’s approach to long duration, utility-scale energy storage. Applying conventional physics fundamentals of gravity and potential energy, the system combines an innovative crane design that lifts specially designed, massive composite bricks with a proprietary, cloud-based software platform which orchestrates the storage and discharge of electricity. Utilizing 100 percent eco-friendly materials at unprecedented economics, Energy Vault is accelerating the shift to a fully renewable world.
The company was created at Idealab Studio , the leading technology incubator founded by Bill Gross.
For more information about Energy Vault, please visit energyvault.com and @EnergyVaultInc .
About World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (weforum.org and @wef and @Davos )
About the Global Innovators
The Global Innovators Community is a group of the world’s most promising start-ups and scale-ups that are at the forefront of technological and business model innovation. The World Economic Forum provides the Global Innovators Community with a platform to engage with public- and private-sector leaders and to contribute new solutions to overcome current crises and build future resiliency.
Companies who are invited to become Global Innovators will engage with one or more of the Forum’s Platforms, as relevant, to help define the global agenda on key issues.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200616005363/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Lattice Advances FPGA Design with New Leadership AI-Driven Development Tool, Lattice Prompt17.9.2026 04:00:00 CEST | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today introduced a new leadership AI-powered FPGA development tool for small and mid-range FPGAs that redefines how FPGA developers work across the full design flow. Lattice Prompt pairs with AI agentic tools developers already use, combining them with Lattice design tools, knowledge base, and documentation to turn natural language inputs into validated responses, dramatically accelerating FPGA development while optimizing design performance and capability. "Accelerating time-to-market demands and rising design complexity are putting mounting pressure on FPGA developers to do more with every design cycle," said Esam Elashmawi, Chief Strategy and Marketing Officer, Lattice Semiconductor. "Lattice Prompt gives developers AI-assisted access to the full design flow, grounded in Lattice's validated knowledge, so they can focus on what matters most: building differentiated systems." Lattice Prompt:
Lattice Expands Secure Control FPGA Leadership with New Lattice Mach-N2 Family17.9.2026 04:00:00 CEST | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today announced Lattice Mach™-N2 FPGA family, extending its long-running secure control FPGA leadership with new devices purpose-built for system control and security in modern infrastructure. Built on the Lattice Nexus™ 2 small FPGA platform, Mach-N2 combines integrated flash, a hardware Root of Trust, and CNSA 2.0-compliant post-quantum cryptography (PQC) with crypto agility for trusted, always-on system control and security across next-generation systems. "The demands on system control and security are accelerating as post-quantum mandates take hold, and customers building long-lifecycle infrastructure seek solutions that will help them design with today and tomorrow’s security needs in mind," said Esam Elashmawi, Chief Strategy and Marketing Officer, Lattice Semiconductor. "Mach-N2 represents a significant step forward in logic density and bandwidth while adding the most complete post-qua
TOURISE Unveils 2027 Summit Under the Theme “Alliances That Move the World”16.9.2026 22:53:00 CEST | Press release
Second global tourism summit to convene renowned leaders in Riyadh, March 23-25, 2027 First confirmed speakers announced, including leaders from Booking Holdings, Marriott, Hilton, Intrepid Travel and S4 Capital Theme calls for new alliances across tourism, technology, investment and government to shape the sector’s next 50 years Under the patronage of His Royal Highness Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, His Excellency Ahmed Al-Khateeb, Minister of Tourism and Chairman of TOURISE, today announced the TOURISE 2027 Summit, taking place in Riyadh from March 23-25, 2027. Building on the inaugural TOURISE Summit in November 2025 and a year of collaboration since, the 2027 edition will run under the theme “Alliances That Move the World.” Over three days, leaders will focus on the partnerships, investments and actions needed to advance the global tourism agenda over the next 50 years. This press release features multimedia. View the full release here
Brightfin Names Dan McNamara Chief Customer Officer16.9.2026 19:13:00 CEST | Press release
As Brightfin expands its platform and rides growing enterprise demand for IT spend control, the company taps Dan McNamara with a track record of scaling teams through rapid growth Brightfin, the leading platform for total spend intelligence in enterprise IT, today announced that Dan McNamara has joined the company as Chief Customer Officer (CCO). The appointment comes as Brightfin extends its platform into a broader vision of financial truth and operational clarity across the entire enterprise technology stack, and as more IT and finance leaders turn to Brightfin to make sense of fast-growing, fragmented spend across cloud, mobile, and emerging AI tooling. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916064892/en/ Dan McNamara, CCO of Brightfin McNamara has built his career on meeting increasingly complex customer expectations. Twice, he has joined a customer organization in the middle of rapid growth and left it with a
Jazwares Partners With Sanrio to Expand Its Hello Kitty and Friends Range to EMEA16.9.2026 18:00:00 CEST | Press release
Plush Toys, Figures, and More Inspired by the Beloved World of Hello Kitty and Friends to Launch in Europe, the Middle East, and Africa Jazwares, one of the world’s leading toy companies, today announced a licensing agreement with Sanrio GmbH, extending Jazwares successful Hello Kitty and Friends toy line to Europe, the Middle East, and Africa (EMEA). The agreement will bring Sanrio’s beloved Hello Kitty and Friends characters to even more fans in the region through playful, imaginative products designed for kids and collectors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916913201/en/ Jazwares partners with Sanrio to expand its Hello Kitty and Friends range to EMEA Available across key EMEA markets, the collection of trendy plush and figures, playsets, vehicles, and seasonal items reimagines Hello Kitty alongside fan-favorite friends including Cinnamoroll, Kerokerokeroppi, Pompompurin, Tuxedosam, My Melody, Kuromi, Po
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom