Energy Vault
Energy Vault, a pioneering energy storage company headquartered in the United States, is at the forefront of the renewable energy sector. Founded in 2017, the company has rapidly established itself as a leader in sustainable energy solutions, particularly in the development of innovative gravity-based energy storage systems. With operations spanning key regions in North America and Europe, Energy Vault's core offerings include its proprietary energy storage technology, which uniquely utilises gravity and kinetic energy to provide reliable, long-duration storage. This approach not only enhances grid stability but also supports the integration of renewable energy sources. Recognised for its commitment to sustainability, Energy Vault has achieved significant milestones, positioning itself as a vital player in the transition to a cleaner energy future. The company's unique technology and strategic partnerships underscore its role in shaping the energy landscape.
DitchCarbon Score
How does Energy Vault's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electrical Machinery Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Energy Vault's score of 38 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Energy Vault's reported carbon emissions
In 2023, Energy Vault reported total carbon emissions of approximately 158,600 kg CO2e, comprising 68,500 kg CO2e from Scope 1 and 89,100 kg CO2e from Scope 2 emissions. This reflects a significant increase in emissions compared to 2022, where total emissions were about 139,600 kg CO2e, with Scope 1 at 37,400 kg CO2e and Scope 2 at 46,200 kg CO2e (market-based). Energy Vault has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions by 50% from 2022 levels by 2030. Additionally, the company has committed to achieving net-zero emissions by 2050 across both Scope 1 and Scope 2 emissions. Furthermore, they have established a near-term target to reduce Scope 1 and Scope 2 greenhouse gas emissions by 42% by 2030, using 2022 as the baseline year. These targets align with industry standards for climate action, demonstrating Energy Vault's commitment to sustainability and reducing its carbon footprint in the electrical equipment and machinery sector.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 35,200 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 21,900 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 619,000 | 00,000,000 | 000,000,000 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Energy Vault is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
