Energy Vault has secured 275 MW of reciprocating engine generation capacity using Rolls-Royce MTU technology, with deliveries scheduled from the second half of 2027 through the first half of 2028. The procurement was supported by equipment financing from Eagle Point Credit Management. The generation capacity will support Energy Vault's Powered Land solutions and ongoing multi-gigawatt discussions for hyperscale AI and high-performance computing campuses. The company aims to address power access constraints facing AI infrastructure development through its Build, Own & Operate model. The equipment will utilize Rolls-Royce MTU reciprocating engine technology designed for mission-critical applications. Energy Vault plans to integrate this capacity with battery energy storage systems and advanced power plant controls to provide hyperscale customers with faster energization whilst maintaining power quality and operational flexibility.

Energy Vault has secured a $137.5 million senior secured term loan facility through its subsidiaries to purchase power generation equipment, according to an SEC filing on 20 August 2026. The facility was established on 14 August 2026, with EV Gen Set 1, LLC as borrower and EV Gen Set I HoldCo, LLC as guarantor. The loan matures on 2 January 2028 and will be drawn in instalments to match equipment supply agreement payments. Interest rates are set at 6.75% per annum for SOFR loans through 31 December 2026, rising to 7.50% thereafter. The financing is secured by first-priority security interest in substantially all assets of the borrower and holding company, including contract rights and membership interests. The company must maintain a debt service reserve account covering three months of debt service.

Energy Vault reported second-quarter 2026 revenue of $17.4 million, up 104% year-over-year, exceeding consensus estimates. GAAP gross margins reached 31%, whilst adjusted gross margin hit 38.6%, up 166% year-over-year. The company's contract backlog expanded to $2 billion, growing 47% quarter-over-quarter and 107% year-over-year, driven by demand from AI compute infrastructure. Energy Vault secured a 1.25 GW contract for integrated power, storage and software infrastructure supporting hyperscaler contracts in Texas, expected to generate $500-$600 million revenue in the second half of 2026 and 2027. Cash reserves grew 26% quarter-over-quarter to $148 million, marking the sixth consecutive quarterly increase. Global megawatts under operation, construction and ready-to-build reached approximately 1.1 GW, up 476% year-over-year. The company raised full-year 2026 revenue guidance to $270-$310 million and GAAP gross margin guidance to 20%-25%.