- Energy Vault Holdings has announced that it has signed a new licensing and royalty agreement in the Southern African Development Community (SADC) region.
- The agreement was executed in Q4 2023 with Gravity Energy Storage Solutions (Pty) Ltd (GESSOL), a consortium company focused on energy storage deployments in Southern Africa, and includes one of the largest listed engineering, procurement and construction (“EPC”) companies in the region WBHO who will support all engineering, procurement and construction activities, as well as pan-African project engineering group iX Engineers and commercial developer Sizana Solutions, which has been partnered with Energy Vault since 2019 in development of the South African market for energy storage solutions.
While the scope of the license and royalty agreement includes Energy Vault’s gravity energy storage systems (GESS) and its associated VaultOS™ energy management system (EMS), the consortium companies are also bidding Energy Vault’s leading portfolio of short duration battery and ultra-long duration Green Hydrogen hybrid systems within the SADC territory to address energy shifting and micro-grid development to serve the utility, mining and industrial sectors.
Total addressable market regionally for energy storage expected to be 125GWh+ through 2035, yielding a market potential of multi-billion dollars in EPC projects and associated royalty streams to construct gravity energy storage systems throughout the 16 member-state SADC region.
Author: Bryan Groenendaal