Atlas company energy storage technology

What is Energy Vault & Atlas renewable doing in China?

Energy Vault and Atlas Renewable signed a $50 million licensing agreement for the use of Energy Vault's proprietary gravity-based energy storage technology and its technology agnostic energy management and asset optimization software suite in the Chinese power market.

What does Atlas renewable LLC do?

Atlas Renewable LLC serves as an American facilitation bridge between Chinese institutions, investors and regulatory entities and Energy Vault to identify projects, help pre-qualify and oversee financing efforts through the available mechanisms supported by Chinese Local, Provincial and National policies.

Why is Atlas renewable partnering with China Tianying?

“Our agreement with Atlas Renewable and broader relationship with China Tianying marks a significant new milestone representing the company’s first licensing agreement and also the expansion of our global footprint into what will become the largest renewable energy storage growth market in the world over the next 10 years”

Will Energy Vault be able to deploy gravity storage technology in China?

“We are excited to partner with Energy Vault to establish the first commercial licensing agreement of the company’s innovative gravity storage technology platform, which we look forward to deploying in China, the world’s largest market for renewable energy development,” said Neil Bush Chairman of Atlas Renewable LLC.

Is a 100mwh gravity-based energy storage system coming to China?

Image: Energy Vault. A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed.

What is gravity energy storage?

The company’s advanced gravity energy storage solutions are based on the proven physics and mechanical engineering fundamentals of pumped hydro, but replace water with custom-made, environmentally-friendly composite blocks which do not lose storage capacity or degrade over time.