Energy Vault ($NRGV) Deploys Additional EVx Gravity Energy Storage Systems in China

Energy Vault (NYSE: NRGV), a leader in grid-scale energy storage, is deploying five EVx gravity energy storage systems (GESS) in China through a licensing agreement with China Tianying, bringing China's total EVx deployments to seven, with 3.26 GWh capacity.

Energy Vault's 100 MWh EVx in Rudong China is nearing completion and will be the world's first commercial non-pumped hydro gravity energy storage system. Energy Vault's gravity energy storage systems offer long life, lower storage costs, scalability, efficiency, and sustainability, using locally sourced materials.

Robert Piconi, Chairman and Chief Executive Officer, Energy Vault stated: “With the first EVx™ system coming online soon in Rudong, five new EVx deployments announced today, and seven total deployments of 3.26 GWh within the first 18 months of our partnership, I would say we are off to a good start.”

Energy Vault develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies.

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Why do they transfer the blocks also sideways? Wouldn't it be more efficient if the blocks were only transfered vertically?