Energy Vault Completes Business Combination with Novus Capital Corporation II
February 14, 2022
Energy Vault Holdings, Inc. completed a business combination with Novus Capital Corporation II and began trading on the New York Stock Exchange (NRGV) on February 14, 2022. The transaction provided approximately $235 million in gross proceeds (plus prior Series C and a $50M licensing fee from Atlas Renewable) to fund commercialization of the company’s grid-scale energy storage technologies and energy management software.
- Buyers
- Novus Capital Corporation II, Atlas Renewable LLC, Korea Zinc Co., Ltd., China Tianying Inc.
- Targets
- Energy Vault Holdings, Inc.
- Industry
- Energy
- Location
- California, United States
- Transaction Type
- Buyout
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