Energy Vault, the creator of a unique renewable energy storage system has partnered with problem solving organization, Helena, to expand technologies and solutions for circular economy and remediation efforts for the energy sector.
Firstly, the partnership’s main goal is to identify additional opportunities for Energy Vault’s breakthrough waste remediation technologies as the company begins deployment of its innovative energy storage system worldwide.
Secondly, through Helena’s vast network, the partnership will also focus on the expansion of Energy Vault’s technology; in particular its advanced material remediation innovations; which enables the use of alternative materials to replace environmentally unfriendly substances like concrete.
In addition, Energy Vault’s solutions also enables the recycling of various pre-existing waste materials; which in return helps large utility and industrial companies transform financial and environmental liabilities into infrastructure assets; to support their transition to a fully circular economic approach.
Thirdly, the technology developed by the company applies material science into the main energy storage medium; which is composite blocks. The solutions enables to substitute the harmful materials on those, with recycled materials.
Also recommended for you: Palladium Energy secures capital to develop 500MW of solar projects. Click here to read.
Energy Vault to play key role in energy transition; its tech allows true circular economy
Consequently, materials like coal ash waste and retired wind turbine blades can be re-directed from landfills into its custom-made composite blocks; that anchor the company’s gravity-powered systems.
Furthermore, Energy Vault maximizes the use of soil, sand and waste materials, including outputs from fossil fuel production; which reduces the environmental footprint of the energy, industrial and also, transportation sector; while creating jobs, boosting local economies and creating a true circular economy.
On the other hand, the partnership with Helena builds upon the work of energy Vault with international company CEMEX; and also, supports the collaboration with the recently announced partnership with Enel Green Power. As a part of the current partnership, Hela invested $20 million in Energy Vault.
Finally, about the relevance of the agreement, Helena Founder and CEO Henry Elkus, said. “We believe Energy Vault will play a fundamental role in furthering the energy transition. The company’s ability to use massive quantities of waste material to construct its systems; only makes the impact more real and the business case also more viable; while also providing utilities a streamlined method to transition out of fossil fuel-based production.”