Energy Vault Begins Commercial Operation Of Cross Trails BESS, Its First Asset Under “Own & Operate” Growth Strategy

Energy Vault Holdings Inc., a company specializing in sustainable, grid-scale energy storage solutions, has successfully completed and brought online its 57 MW, two-hour Cross Trails Battery Energy Storage System (BESS) located in Scurry County, Texas. This marks the company’s first fully executed project under its “Own & Operate” strategy and was completed ahead of schedule. The system is now commercially operational and is supported by a 10-year offtake agreement with Gridmatic, an AI-driven power marketer.

The Cross Trails BESS is designed to supply energy and ancillary services to the Electric Reliability Council of Texas (ERCOT) grid. It will help stabilize the grid, support renewable energy integration, and enhance overall grid resilience. Energy Vault achieved mechanical completion of the project earlier than planned, meeting all construction milestones through effective coordination among its engineering, procurement, and construction teams. Commissioning began immediately after, and ERCOT’s Checklist Part 3, which includes all final testing and documentation, was also completed ahead of schedule. These achievements enabled the project to begin commercial operations sooner than expected.

This project features Energy Vault’s second-generation B-VAULT™ AC system, which is modular and pre-integrated, allowing for faster and more cost-effective installation. It also marks the first commercial deployment of this updated system. The BESS operates with Energy Vault’s proprietary VaultOS™ Energy Management System, which monitors, manages, and optimizes performance.

Marco Terruzzin, Chief Revenue Officer, Energy Vault, stated, “This milestone demonstrates the unique ability of the Energy Vault team to execute complex energy storage deployments with speed, quality, and attractive economics. Completing Cross Trails ahead of schedule and achieving ERCOT certification early is a testament to our team’s expertise and the commitment of the entire leadership team to delivering long-term, sustainable shareholder value under the ‘Own & Operate’ growth strategy announced in 2024.”

The offtake agreement with Gridmatic is the first of its kind in ERCOT to include a physically settled revenue floor for a BESS. It is backed by Gridmatic’s Energy Storage Fund and utilizes the company’s advanced AI-based forecasting tools, which have consistently led ERCOT’s Day Ahead energy trading performance. Gridmatic will also serve as the project’s Qualified Scheduling Entity (QSE), providing essential grid interface services. The successful launch of the Cross Trails BESS marks a key milestone in Energy Vault’s broader strategy to build and operate energy storage assets using an optimized capital and operational model. The project also highlights Energy Vault’s capacity to manage all phases from design and construction to financing and operations efficiently, while continuing to focus on revenue-generating structures that support long-term growth and reinvestment.