Energy Vault Holdings (NRGV) risk factors

72 risks, 9 new, 6 dropped, 10 reworded since the prior year. Energy Vault expanded disclosures on emerging markets, tariff escalations, tax carryforwards, and backlog definitions. Increased share counts for warrants and equity plans escalated dilution risks.

69 risks. Energy Vault has an accumulated deficit of $383.8 million as of December 31, 2024, with net losses of $135.8 million for the year. The company relies on a limited number of customers for the majority of its revenue and depends heavily on third-party suppliers for components manufactured outside the U.S. G-Vault products require large physical spaces, creating permitting delays compared to lithium-ion alternatives.