Energy Vault Holdings (NRGV) Achieves Milestone with Battery Energy Storage System

Energy Vault Holdings, Inc. (NYSE:NRGV) is one of the 11 best green energy penny stocks to buy right now. On June 11, the company announced it had reached a key milestone with the commercial launch of its two-hour battery energy storage system.

Energy Vault Holdings (NRGV) Achieves Milestone with Battery Energy Storage System

A storage facility for natural gas, showing the vast reserves of this abundant energy source.

The company has completed and started commercial operation of the 57MW two-hour Cross Trails BESS in Scurry County, Texas. The battery solution has already begun providing energy and ancillary services to support renewable energy production and improve grid resiliency.

The BESS leverages the company’s integrated solution stack of hardware, software, and services offerings. It serves as the first deployment of a second-generation B-VAULT AC product designed to enable high levels of system availability in the Electric Reliability Council of Texas (ERCOT) region.

According to Marco Terruzzin, Chief Revenue Officer at Energy Vault, the milestones underscore Energy Vault’s ability to execute complex energy storage deployments with speed and quality.

Energy Vault Holdings, Inc. (NYSE:NRGV) develops, deploys, and operates utility-scale energy storage solutions. Its solutions are designed to enhance the world’s approach to sustainable energy storage.

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Disclosure: None. This article is originally published at Insider Monkey.