Energy Vault went public via a SPAC merger with Novus Capital Corporation II in a $1.1bn deal.

Energy Vault, the company creating energy storage solutions, went public via a SPAC merger with Novus Capital Corporation II, a special purpose acquisition company, in a $1.1bn deal. Novus II received $100m of commitments for a common stock PIPE anchored by Adage Capital Partners, Pickering Energy Partners, Sailingstone Capital, SoftBank, Cemex, Palantir Technologies and other investors. “As a public company with a strong balance sheet, we are well positioned to globally scale our energy management and storage solutions toward our core mission of sustainable decarbonization," Robert Piconi, Energy Vault Co-Founder and CEO. On February 10, 2022, stockholders of Novus approved the transaction and announced the deal should close on February 11, 2022.