Energy Vault closes US$18 million financing for 114MWh Texas BESS
April Bonner | Source: Energy Storage News | Posted 07/30/2025
Energy storage developer and system integrator Energy Vault has successfully closed a US$18 million financing for its Cross Trails battery energy storage system (BESS) project in Scurry County, Texas, US.
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Energy Vault, a developer and system integrator of energy storage solutions, has secured US$18 million in financing for its Cross Trails battery energy storage system (BESS) project in Scurry County, Texas. The 57 MW/114 MWh BESS commenced commercial operations in June, ahead of schedule, and has a 10-year offtake agreement with Gridmatic, which is also providing scheduling services. The project is supported by Gridmatic’s Energy Storage Fund, aimed at managing up to 500MW of battery capacity in Texas and California markets.
This project marks the first deployment of Energy Vault's second-generation B-Vault solution, which includes an advanced energy management system. Additionally, Energy Vault is involved in a 200MWh project with Jupiter Power in Texas and has previously secured US$28 million for the Calistoga Resiliency Centre in California, which integrates hydrogen fuel cells with a lithium-ion BESS. The company's recent acquisitions and projects align with its 'Own & Operate' strategy, focusing on generating sustainable, long-term value for shareholders.
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Source Link: https://www.energy-storage.news/energy-vault-closes-us18-million-financing-for-114mwh-texas-bess/
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