Initial 8MW deployment of Crusoe Spark™ modular data centers, expandable to 25 MW and targeted for commercial operation in Q1 2027, demonstrating Energy Vault's "speed-to-power" AI energy infrastructure execution

Energy Vault’s new Snyder AI Campus has been designed as a sustainable and modular platform with planned capacity expansion up to 500MW with annual revenue per MW in line with prior guidance

Energy Vault, Inc. (NYSE:NRGV) ("Energy Vault"), a global energy infrastructure company supporting grid reliability and next-generation AI and high-performance computing infrastructure, today announced that construction has commenced at its powered AI infrastructure campus in Snyder, Texas, for Crusoe Cloud. The initial development, referred to as "Snyder AI," represents the first phase of Energy Vault's broader development strategy for the site.

This construction milestone follows Energy Vault's previously announced commercial agreement with Crusoe and demonstrates the Company's execution of its AI infrastructure strategy. Phase 1 is designed to deliver an initial 8MW of powered shell capacity for Crusoe Cloud with expansion potential to 25MW in a second phase.

Construction activities are underway across the site, including fiber installation, site preparation, power infrastructure, and enabling works required to support the deployment of the Crusoe Spark modular data center platform. Crusoe Spark units are designed for rapid deployment, with installation and commissioning timelines measured in weeks compared to years for traditional data center infrastructure.

The Snyder powered AI infrastructure campus is designed to combine powered land, electrical infrastructure, N+1 redundancy, battery energy storage systems ("BESS"), and modular data center infrastructure. Energy Vault is purchasing ten Crusoe Spark modular data centers from Crusoe, which Crusoe will lease-back from Energy Vault as powered shell infrastructure. Crusoe Spark will deploy Crusoe Cloud computing capacity for training, fine-tuning, and inference customers.

"This announcement is about speed and execution," said Marco Terruzzin, Chief Commercial and Development Officer of Energy Vault. "Earlier this year, we announced our commercial agreement with Crusoe. Today, we are building it. Our initial 8MW deployment is targeted for commercial operation in Q1 2027. Energy Vault is delivering AI infrastructure by combining land, power, redundancy, controls, and modular infrastructure to help AI compute customers move from concept to capacity faster. Our relationship with the City of Snyder has been built through early community engagement, responsible site development and investment in infrastructure intended to create lasting local benefits. Snyder AI is the result of this commitment and demonstrates how Energy Vault brings value to the community and generates recurring infrastructure revenue."

"Our Crusoe Spark modular data center program is a capacity accelerant and a strategic differentiator for Crusoe and our partners," said Cully Cavness, President, Co-founder and Chief Strategy Officer of Crusoe. "By combining Crusoe Spark capacity with Crusoe Cloud offtake, this project illustrates the creative business opportunities enabled by vertical integration. We are excited to be working with Energy Vault at their flagship Snyder AI site, which will demonstrate a repeatable and scalable model for the rapid deployment of modular computing capacity at powered land sites."

The project delivers capacity at speed for Crusoe Cloud's expanding AI computing business and underscores Energy Vault's role as an infrastructure partner for AI and cloud customers seeking to solve critical deployment bottlenecks, including land availability, power access, reliability, redundancy, speed-to-power, and execution.

By combining its development capabilities with powered land, electrical infrastructure, on-site power, battery energy storage, and modular data center infrastructure, Energy Vault is advancing a repeatable platform for critical energy infrastructure supporting next-generation AI and high-performance computing.

About Energy Vault

Energy Vault^® develops, deploys and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company's technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault's innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, large industrial energy users, and AI/cloud infrastructure companies significantly reduce levelized energy costs while maintaining power reliability. Please visit www.energyvault.com for more information.

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