NTPC collaborated with the Swiss company Energy Vault for the deployment of gravity energy storage technology and software solutions based on the results of a joint feasibility study.
NTPC has signed a memorandum of understanding (MoU) with Energy Vault Holdings, Inc (Energy Vault) in this regard, according to a statement.
The purpose of the MoU is to collaborate and formalize a long-term strategic partnership for the deployment of Energy Vault’s EVx gravity energy storage technology and software solutions based on the results of a joint feasibility study.
The technology also offers beneficial use of coal ash for the manufacture of composite blocks for Energy Vault’s gravity energy storage system.
“Collaborating with Energy Vault will help NTPC pursue its energy transition goals through a sustainable approach using coal ash for the manufacture of composite blocks. As a result, this collaboration will also promote a circular economy,” said Gurdeep Singh, President and CEO. from NTPC said.
Robert Piconi, President, Co-Founder and CEO of Energy Vault, said the collaboration builds on previously announced business expansions across multiple continents as Energy Vault became a public company earlier this year.
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