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Energy Vault (NRGV) Is Up 11.1% After $145M Shelf Filing And Swiss FlexGrid Launch - Has The Bull Case Changed?

Simply Wall St · 2d ago
  • Earlier in December 2025, Energy Vault Holdings, Inc. filed and then closed a US$144.98 million shelf registration for 33,251,333 common shares while also entering the Swiss market with FlexGrid, a new 2–25 MW B-VAULT battery storage configuration for commercial, industrial, and small-utility customers.
  • This Swiss launch, backed by agreements with Schindler Group and Energie Wettingen AG within CKW’s advanced Flexpool network, expands Energy Vault’s European footprint and adds to a B-VAULT portfolio now exceeding 2 GWh of deployed or contracted systems worldwide.
  • Next, we’ll examine how the Swiss FlexGrid launch with Schindler and Energie Wettingen might reshape Energy Vault’s investment narrative.

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Energy Vault Holdings Investment Narrative Recap

To own Energy Vault today, you have to believe its shift toward owning and operating battery and storage assets can eventually turn a growing backlog into sustainable cash flows, despite ongoing losses and a high sales multiple. The December 2025 shelf registration for 33,251,333 shares, totaling about US$144.98 million, adds potential dilution risk, but it does not fundamentally change the near term execution catalyst around converting its 2 GWh-plus B-VAULT portfolio and Asset Vault pipeline into operating projects.

Among recent announcements, the formation and funding path for Asset Vault stands out as most relevant, because the Swiss FlexGrid launch with Schindler and Energie Wettingen slots directly into that own-and-operate, recurring EBITDA story across Europe. Together with the earlier exclusivity agreement for a US$300 million preferred equity investment, the Swiss entry helps illustrate how Energy Vault is trying to scale from individual projects into a platform supported by long term offtake and service agreements, which remains the key execution test for shareholders.

Yet, while recent wins look encouraging, investors should be aware that the shelf registration highlights the ongoing possibility that...

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Energy Vault Holdings' narrative projects $531.8 million revenue and $54.0 million earnings by 2028.

Uncover how Energy Vault Holdings' forecasts yield a $3.73 fair value, a 25% downside to its current price.

Exploring Other Perspectives

NRGV 1-Year Stock Price Chart
NRGV 1-Year Stock Price Chart

Three fair value estimates from the Simply Wall St Community span US$2.64 to US$3.73, underlining how differently individual investors view Energy Vault’s potential. You should weigh those views against the company’s heavy reliance on successful execution of large, capital intensive storage projects, where delays or underperformance could leave future earnings well below current expectations.

Explore 3 other fair value estimates on Energy Vault Holdings - why the stock might be worth as much as $3.73!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.