First gravity-based storage agreement between a U.S. and Chinese company to support China’s stated goals of Carbon Peak by 2030 and Carbon Neutrality by 2060
$50 million new investment subscription at $10 per share upsizes previously announced and already upsized PIPE from $150 million to $200 million in conjunction with Energy Vault’s agreement to become a publicly-traded company through business combination with Novus Capital Corporation II