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From the latest Atlas Renewable demonstration project through technology Licensing
Energy Vault, Inc. (“Energy Vault”), the company developing sustainable, grid-scale energy storage solutions, today announced a License and Royalty agreement for renewable energy storage with Atlas Renewable (“Atlas Renewable”) and their majority investor China Tianying Inc. (CNTY) (CN: 000035), an international environmental management and waste remediation corporation engaged in smart urban environmental services, resource recycling and recovery, and zero-carbon clean energy technologies.
50 million in technology licensing to be recognized in 2022 as part of a multi-year License and Royalty agreement signed with Atlas Renewable toward future multi-GWh deployments of Energy Vault’s innovative EVx platform; first 100MWh EVx project to begin in 2022 at a pre-selected site in Rudong, Jiangsu Province, outside of Shanghai
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