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
Beerenberg Prevails in Patent Case Against Aspen Aerogels29.6.2026 07:00:00 CEST | Press release
The ruling confirms that Beerenberg did not infringe Aspen Aerogels’ patents. The Korean Patent Court has invalidated three of Aspen Aerogels’ patents related to improved hydrophobic aerogel material. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260628192007/en/ Beerenberg delivers high-end insulation solutions built for performance, reliability, and long-term value. (Photo: Beerenberg) The ruling confirms the conclusion of the Intellectual Property Trial and Appeal Board (IPTAB) that the patents did not meet the necessary requirements for patentability. Beerenberg, which specializes in high-end insulation products, welcomes the court’s decision. “We are pleased that the case has now been concluded and that any uncertainty regarding the infringement claims has been removed,” says CEO Arild Apelthun. About Beerenberg Beerenberg has delivered cost-efficient solutions to a wide range of industrial enterprises for 49 years. Th
Seiden Law LLP States: Cambodian Businessman Leak Yim, Wrongfully Accused in Thailand, Seeks Redress in U.S. Court29.6.2026 06:00:00 CEST | Press release
Seiden Law LLP (“Seiden Law”), legal counsel for Mr. Leak Yim, a Cambodia national, and his family, announces the filing of an application in U.S. federal district court in Washington D.C., seeking court-ordered discovery to uncover the false and misleading information that may have led to mistaken prosecution in Thailand of Mr. Yim as well as his unwarranted identification to Congress as being associated with scam centers in Asia. 28 U.S.C. § 1782 (“1782”) provides powerful evidence-gathering remedies, permitting an applicant to obtain evidence in the United States to assist international proceedings. Seiden Law, a U.S. law firm with significant experience in 1782 cases, has filed this application to compel production of documents and sworn testimony from persons in the U.S. that will shed light on the circumstances surrounding recent actions against Mr. Yim. “Mr. Yim and his young family are the apparent victims of guilt by association and political persecution,” said Robert Seiden,
Sultan Bin Ahmed Attends Media Master's Graduation in Spain28.6.2026 18:40:00 CEST | Press release
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), attended on Friday, at the University of Barcelona, the graduation ceremony of the first cohort of the Master of Science in Media Entrepreneurship and Digital Innovation programme, first of its kind, offered by the University of Sharjah's College of Communication in partnership with the University of Barcelona and with strategic support from Sharjah Media City (Shams). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260628429537/en/ Sultan Bin Ahmed attends Media Master's Graduation in Spain (Photo: AETOSWire) His Highness expressed his pride in their achievements and praised the strong partnership between the two universities, which share a commitment to knowledge, excellence and global understanding. His Highness stressed that graduation marks the beginning of a new journey rather than its con
VerSprite Launches Fork and Knife: AI-Driven Threat Modeling and Adversarial Testing Built for the Speed of Modern Software26.6.2026 23:28:00 CEST | Press release
Powered by the risk-centric PASTA methodology and two decades of accredited offensive security, the integrated platform lets enterprises threat model in a security sprint—then prove the risk through AI-led, human-on-the-loop testing. VerSprite, a global leader in risk-based threat modeling and the firm behind the PASTA (Process for Attack Simulation and Threat Analysis) methodology, today announced the general availability of Fork (www.forktm.com), a continuous application threat modeling platform, alongside Knife, an AI-led, human-on-the-loop adversarial testing platform for web applications and web API endpoints. Together, the two products operationalize a new model for product security—one where applications are securely designed, continuously modeled, and actively tested as part of the build process itself. The launch addresses a problem every security leader knows but few tools have solved: threat modeling is essential, never more so than in an AI-driven era, yet it has remained s
Venture Global Announces Closing of $1.5 Billion Senior Secured Vessel Financing Facility26.6.2026 22:30:00 CEST | Press release
Venture Global, Inc. (NYSE: VG) announced today that its wholly-owned subsidiary, Venture Global Shipping Holdings, LLC (“VGSH”), has entered into a Credit and Guaranty Agreement providing for a senior secured term loan facility (the “Facility”) in an aggregate principal amount of up to $1,500,000,000. The Facility will mature on June 26, 2032. Deutsche Bank and ING acted as coordinating lead arrangers for the Facility. ING also serves as facility agent and security trustee. VGSH intends to use the net proceeds from the Facility for general corporate purposes, including to reimburse Venture Global LNG, Inc. for payments previously made by it or its affiliates in connection with the acquisition of nine LNG carriers, funding certain reserve accounts, and paying transaction fees and expenses. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (“LNG”) with over 100 MTPA of capacity in production, construction, or development. Ven
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