ENERGY-VAULT
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
H2SITE Secures EIC Accelerator Funding to Deploy a Flagship 1 TPD Ammonia Cracker Using Membrane Reactor Technology at a Port in North-West Europe3.7.2025 08:40:00 CEST | Press release
H2SITE has been awarded the EIC (European Innovation Council) Accelerator program for a project aimed at deploying a first-of-its-kind ammonia cracking unit capable of producing 1 ton of high-purity hydrogen per day. The system is based on H2SITE’s proprietary palladium-based membrane reactor technology, which enables the simultaneous catalytic decomposition of ammonia and selective hydrogen separation within a single unit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702142283/en/ Ammonia Cracker using Membrane Reactor Technology This breakthrough technology offers several compelling advantages over conventional ammonia cracking processes: Lowest Levelized Cost of Hydrogen (LCOH) from ammonia due to high efficiency and integrated operation Reduced energy consumption, operating at significantly lower temperatures (400–450 °C) than traditional cracking methods (typically 600–800 °C) High-purity hydrogen output, compliant
Curve Pay and Thales Join Forces to Securely Transform Digital Wallets on iPhone3.7.2025 08:00:00 CEST | Press release
This collaboration between Curve and Thales provides iOS users with greater control, flexibility, autonomy and digital-security for in-store contactless payments and digital wallets Curve, the ultimate digital wallet, today announced deepening its collaboration with Thales, the global leader in advanced technologies, delivering secure modern payment solutions for financial institutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702696837/en/ Thales D1 Platform to power CURVE PAY (Photo: Thales) This partnership comes on the back of Curve launching Curve Pay on iOS, marking a watershed moment in mobile payments. This partnership is a significant step to reshaping everyday spending, allowing Curve customers to benefit from NFC payment directly in the Curve App for contactless payments in store for all end-users on iOS and Android. Curve Pay is underpinned by Thales’ D1 platform on iOS and Android in Europe which allows
Medimaps Group Launches In Europe TBS Osteo Next-Generation Software For Advanced Bone Microarchitecture Assessment3.7.2025 08:00:00 CEST | Press release
New TBS Osteo Advanced next-generation software enhances fracture risk detection beyond standard of care in osteoporosis, a silent disease affecting over 32 million Europeans1 TBS Osteo Advanced next-generation software to be rolled-out across Europe Broad clinical adoption reinforces TBS Osteo leadership in bone microarchitecture evaluation for fracture risk assessment Subscription-based model offers ongoing services and access to future clinical innovations Medimaps Group S.A., a global leader in AI-driven bone microarchitecture imaging solutions, announces the European launch of its MDR-cleared next-generation TBS Osteo Advanced software. Following the product launch in the United States last month, this next milestone reflects the company's commitment to advancing osteoporosis detection and bone health management worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702082335/en/ Medimaps' TBS Osteo next-generatio
ISDA and Ant International Lead New Industry Report on Use of Tokenised Bank Liabilities for FX Settlement and Cross-Border Payments Under Project Guardian3.7.2025 08:00:00 CEST | Press release
Report builds on shared ledger technology and industry expertise of the co-leads as well as members of the Project Guardian FX workstreamIt includes proposed principles for leveraging tokenised bank liabilities and shared ledgers to drive industry adoption of tokenisation and enable 24/7, real-time FX settlement and lower costs for businesses globally The International Swaps and Derivatives Association (ISDA) and Ant International led the Project Guardian FX industry group to develop a new report for implementing tokenised bank liabilities and shared ledger in cross-border payments and foreign exchange (FX) settlement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702791535/en/ Report on Use of Tokenised Bank Liabilities for Transaction Banking by ISDA and Ant International, under the Monetary Authority of Singapore's (MAS) Project Guardian The joint report is produced under the Monetary Authority of Singapore's (MAS) Pr
Year-old European startup Maisa named alongside Google and Amazon in elite list of leading AI agent vendors in top global US research reports by Gartner3.7.2025 01:01:00 CEST | Press release
- First time a Spanish startup has made the list, thanks to its industry-first hallucination resistant ‘digital workers’ - AI startup is one of two European AI agent vendors in Gartner’s Hype Cycle report for Artificial Intelligence and Hype Cycle for the Future of Work lists Maisa, a rising star of enterprise AI, has been named by leading global research and advisory firm Gartner in its list of leading vendors for developing reliable AI agents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702640749/en/ Maisa founders David Villalón and Manuel Romero Inclusion in Gartner’s 2025 Hype Cycle for AI and Hype Cycle for the Future of Work marks the first time a Spanish startup has been mentioned in these influential reports. The company, which is barely a year old and made its first raise of $5m+ from leading US investors last year, now finds itself named alongside global giants Amazon Web Services, Google, Salesforce and Lan
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