Energy Vault to Present at Needham’s 24th Annual Growth Conference

LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–Energy Vault, Inc. (“Energy Vault”), the company developing sustainable, grid-scale energy storage solutions with its proprietary technology, today announced that CEO and Co-Founder Robert Piconi , will present at the 24and Annual Needham Growth Conference. The presentation will take place on Thursday, January 13, 2022 at 5:00 p.m. ET. A webcast of the event will be available on https://wsw.com/webcast/needham116/register.aspx?conf=needham116&page=envl&url=https://wsw.com/webcast/needham116/envl/2261138.

Energy Vault previously announced that it has entered into a business combination agreement with Novus Capital Corporation II (NYSE: NXU, NXU.U, NXU WS), (“Novus”), a special purpose acquisition company (SPAC), under which Energy Vault will combine with Novus.

About the Energy Vault

Energy Vault develops sustainable, grid-scale energy storage solutions designed to advance the transition to a resilient, carbon-free power grid. Energy Vault’s mission is to accelerate the decarbonization of our economy through the development of sustainable and cost-effective energy storage technologies. To achieve this, Energy Vault designed the EVx and Energy Vault Resiliency Center (EVRC) platforms, advanced gravity-based energy storage solutions designed to minimize environmental and supply chain risks. Energy Vault’s gravity solutions are based on the proven fundamentals of physics and mechanical engineering of pumped hydroelectric energy storage, but replace water with custom-designed composite blocks, or “moving masses,” that do not do not lose storage capacity over time, and which can be made from inexpensive, locally sourced materials, including local soil, mine tailings, coal combustion residues (coal ash) and fiberglass from decommissioned wind turbine blades. Combining potential and kinetic energy cycles, Energy Vault’s systems are automated with advanced computer control and machine vision software to create gravity energy storage innovation designed to meet market demand for a storage time from 2 to 12 hours. Energy Vault has offices in Westlake Village, California and Lugano, Switzerland, with the Swiss office serving as Energy Vault’s international headquarters.

About Novus Capital Corporation II

Novus raised approximately $287.5 million in its February 2021 IPO and its securities are listed on the NYSE under the symbols “NYSE: NXU, NXU.U, NXU WS”. Novus is a special purpose acquisition company organized for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other business combination similar with one or more companies or entities. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing growth initiatives and news by leveraging insights from large data assets and intellectual property that already exist in most high-tech companies.

Forward-looking statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospects”, “designed” and similar expressions which predict or indicate future events or trends or which are not statements of historical matters These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance measures, projections of market opportunities, expectations and timing related to the deployment of activities. Energy Vault features and the schedule of deployments, proposed features and designs. of EVx and Energy Vault Resiliency Center (EVRC) platforms, availability of low-cost, locally sourced materials to produce “moving masses”, customer growth and other business milestones, potential benefits of proposed business combination and PIPE investment (the “Proposed Transactions”), and expectations relating to the timing of the proposed Transactions.

These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Energy Vault and Novus and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to serve as, and should not be relied upon by, any investor as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many real events and circumstances are beyond the control of Energy Vault and Novus.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, commercial, financial, political and legal conditions; the failure of the parties to successfully or in a timely manner complete the proposed transactions, including the risk that regulatory approvals may not be obtained, may be delayed, or may be subject to unanticipated conditions that could adversely affect the combined company or expected benefits proposed transactions or Novus or Energy Vault shareholder approval is not obtained; failure to realize the anticipated benefits of the proposed transactions; risks related to the uncertainty of projected financial information regarding Energy Vault; risks related to the deployment of Energy Vault’s activities and the timing of expected business milestones; demand for renewable energy; ability to market and sell its solution; ability to negotiate definitive contractual agreements with potential customers; the impact of competitive technologies; ability to obtain sufficient supply of materials; the impact of Covid-19; global economic conditions; ability to meet installation schedules; the effects of competition on Energy Vault’s future business; the amount of redemption requests made by Novus public shareholders; and the factors discussed in the registration statement and in Novus’ registration statement on Form S-4 regarding the business combination under the heading “Risk Factors”, and its annual report on Form 10-K for the year ended December 31, 2020 under the heading “Risk Factors” and other Novus documents filed or to be filed with the SEC.

Important information about the proposed business combination and where to find it

This communication relates to the proposed merger transaction between Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which includes a proxy statement/preliminary prospectus of Novus, and certain related materials, for use at the meeting of shareholders to approve the business combination. proposed companies and related matters. Investors and security holders of Novus are urged to read the information statement/prospectus carefully and in its entirety, as well as any amendments thereto and other relevant documents that will be filed with the SEC, because they contain important information about Energy Vault, Novus and the business combination. The definitive proxy statement will be mailed to Novus shareholders on a record date to be determined to vote on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once these documents are filed with the SEC, free of charge, at SEC web at www.sec.gov. Information contained on or accessible through websites referenced in this press release is not incorporated by reference into, and does not form part of, this press release.

Participants in the solicitation

Novus and its directors and officers may be considered participants in the solicitation of proxies from shareholders of Novus in connection with the proposed business combination. Energy Vault and its officers and directors may also be considered participants in such solicitation. Securityholders may obtain more detailed information regarding the names, affiliations and interests of certain of the officers and directors of Novus in the solicitation by reading Novus’ Annual Report on Form 10-K for the fiscal year ended December 31. 2020, the quarterly report on Form 10-Q for the six months ended June 30, 2021 and the proxy statement/prospectus and other relevant documents and other documents filed with the SEC in connection with the business combination when they will be available. Information regarding the interests of Novus’ participants in the solicitation, which may, in some cases, differ from those of their shareholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when will be available.

No offer or solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.