Energy Vault Raises Full-Year Revenue Guidance on Record Contract Bookings
Event summary
- Energy Vault reported Q2 2026 revenue of $17.4M, up 104% YoY.
- Backlog reached ~$2B as of August 10, 2026, with ~40% expected to convert to revenue in the next 12-18 months.
- Company raised full-year 2026 revenue guidance to $270-$310M from $225-$300M.
- Signed a strategic agreement to deploy 1.25 GW of integrated power infrastructure for an AI data center.
- Broke ground on Snyder, Texas AI Campus with initial phase targeting commercial operation in 1H 2027.
The big picture
Energy Vault's strong Q2 performance and raised guidance reflect growing demand for sustainable energy storage solutions, particularly as AI data centers require more reliable power infrastructure. The company's strategic focus on both grid-scale energy storage and AI compute infrastructure positions it to capitalize on the intersection of these high-growth sectors.
What we're watching
- Revenue Conversion
- How the company will convert its record backlog into near-term revenue.
- Project Execution
- Whether Energy Vault can maintain its pace of project development and deployment.
- Market Expansion
- The pace at which the company can scale its operations in key growth markets like Japan.
Related topics