Energy Vault has secured a strategic $28 million in financing for its facility in Calistoga , California. The facility integrates green hydrogen-based energy storage with an ultra-long-duration microgrid . The project is designed to reduce wildfire risk and strengthen response to public safety power shutoff ( PSPS ) events, in partnership with PG&E .
Calistoga Resiliency Center: A hybrid energy microgrid
With the system expected to be operational in the second quarter of 2025, this infrastructure directly addresses the state’s energy security needs. By integrating clean hydrogen technologies , the platform establishes a replicable model for other regions prone to extreme events.
This financing marks a milestone in the execution of Energy Vault ’s “ Own and Operate ” business strategy, unveiled at Investor Day 2024. In addition to the Calistoga closing, the company has committed more than $25 million in additional tax credits tied to upcoming projects in Texas.
The collaboration with Plug Power and Chart Industries has been important for the technical development of the center. During a recent visit by analysts and investors, the level of technological integration and mechanical progress of the system were highlighted. The system has been completed and is now in the commissioning phase.
The initiative represents a breakthrough in energy storage and also paves the way for a network of similar solutions in California and other parts of the United States. The Calistoga Resiliency Center is the first of its kind, but it is already poised to be the foundational model for a generation of sustainable microgrids for public utilities.
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Source and photo: Energy Vault / LinkedIn
