Energy Vault, Atlas Renewable and China Tianying Announce US$100 Million Transaction with New Pipes, Licenses and Royalty Agreement




















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Energy Vault, Inc. (“Energy Vault”), the company that develops sustainable grid-scale energy storage solutions, yesterday announced a renewable energy storage license and royalty agreement with Atlas Renewable LLC (“Atlas Renewable”) and their majority investor in China Tianying Inc., an international environmental management and waste remediation company engaged in smart urban environmental services, recycling and resource recovery and carbon free clean energy technologies.

The agreement supports the deployment of Energy Vault’s proprietary gravity energy storage technology and energy management software platform in mainland China and the special administrative regions (SARs) of Hong Kong and from Macau. In addition, Atlas Renewable is making a US$50 million investment to grow the current private placement investment (“PIPE”) from US$150 million to US$200 million, and is paying an additional US$50 million in 2022 license fees for the use and deployment of energy Vault’s gravity energy storage technology.

Read the article online at: https://www.worldpipelines.com/business-news/02022022/energy-vault-atlas-renewable-and-china-tianying-announce-us100-million-transaction-with-further- upsized-pipe-licensing-and-royalty-accord/