• 850 MW battery storage acquisition establishes immediate market entry in Japan, with 350 MW advancing toward construction by 2027
• Total owned and operated portfolio surpasses 1 GW globally, supporting projected annual EBITDA above $180 million
• Positions Energy Vault to capitalize on Japan’s rapidly expanding storage market, driven by grid constraints and renewable integration

Energy Vault Holdings, Inc. has entered the Japanese energy market through the acquisition of an 850 MW battery energy storage system pipeline, securing a foothold in one of the fastest-growing storage markets among developed economies.

The transaction includes 350 MW of advanced-stage projects expected to reach Notice to Proceed in the second half of 2027, with commercial operations beginning in mid-2028. An additional 500 MW of early-stage developments provides a multi-year growth runway, strengthening the company’s position in a market defined by rising renewable penetration and grid instability.

The deal also brings a local Japanese development team into Energy Vault, providing on-the-ground expertise in land acquisition, permitting, and grid interconnection. This capability is expected to accelerate execution in a complex and highly regulated market.

Scaling A Global Asset Platform

Following the acquisition, Energy Vault’s global portfolio of owned, operated, and under-construction assets now exceeds 1 GW across energy storage and AI-enabled infrastructure. The company expects these assets to generate more than $180 million in annual recurring EBITDA once fully operational within the next 12 to 36 months, ahead of previous guidance.

The move reflects a strategic shift toward owning and operating infrastructure rather than focusing solely on technology deployment. By controlling the full lifecycle, from development through long-term operations, Energy Vault is targeting stable, recurring cash flows tied to both contracted and market-based revenues.

Executive Perspective On Market Opportunity

“Entering the Japanese market is a key component of our high growth markets expansion strategy and represents one of the most compelling energy storage growth opportunities globally,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “This acquisition provides us with a foundational leadership position in Japan with advanced stage, attractive storage IPP projects coupled with critical local execution capabilities necessary to deliver at the highest performance levels within the Japanese BESS market. By combining our proprietary VaultOS™ energy management software and global supply chain with a proven local team, we are uniquely positioned to accelerate the deployment of the flexible capacity that the Japanese grid urgently requires. Furthermore, we expect to leverage our new solutions in the high-growth AI Compute segments to further compound growth opportunities within the market to enhance delivery of predictable, high-margin, long-term revenue streams ahead of our previously stated growth targets.”

Piconi added: “Despite being a highly developed economy, Japan’s energy storage market remains significantly underpenetrated and is now entering a period of accelerated growth driven by renewable expansion and structural grid constraints. Importantly, storage demand in Japan is not tied to load growth, but to the increasing need for flexibility, resilience, and system stability, creating a powerful, long-duration growth tailwind for our broad portfolio of solutions.”

Revenue Stacking And Technology Flexibility

Japan’s energy market is increasingly structured around “revenue stacking,” where storage assets generate income from wholesale arbitrage, capacity markets, and grid balancing services. This model requires high-performance systems capable of meeting strict safety and energy density requirements.

Energy Vault plans to deploy its B-VAULT AC platform alongside alternative battery chemistries, including sodium-ion technology developed through its partnership with Peak Energy. This technology-agnostic approach allows the company to tailor solutions to local regulatory and operational conditions.

Governance And Climate Alignment

The expansion aligns with Japan’s commitment to achieving carbon neutrality by 2050. As renewable energy capacity increases, energy storage is becoming essential to maintaining grid stability and ensuring reliable power supply.

For policymakers, the transaction highlights the role of private capital in accelerating infrastructure deployment. For investors, it reinforces the growing importance of energy storage as a core asset class with diversified revenue potential and long-term demand.

What This Means For Executives And Investors

Energy Vault’s entry into Japan reflects a broader shift in global energy systems. Storage is becoming central to grid design rather than a supporting technology.

For executives and institutional investors, the opportunity lies in markets where renewable expansion is outpacing grid flexibility. These conditions create sustained demand for storage solutions capable of delivering resilience, stability, and predictable returns.

As Japan accelerates its transition, Energy Vault’s investment places it in a market where infrastructure, policy alignment, and capital deployment converge to define the next phase of the global energy transition.

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