Energy Vault Holdings has successfully closed $28 million in project financing for the Calistoga Resiliency Center (CRC) in California, which serves PG&E as the world's first ultra-long duration hybrid green hydrogen energy storage microgrid. The CRC is designed to enhance power resiliency during wildfire risks and features a 293 MWh microgrid system providing approximately 48 hours of continuous energy supply with a peak power output of 8.5 MW during Public Safety Power Shutoff (PSPS) events. This system combines hydrogen fuel cells with B-VAULT™ DC battery technology and is managed by the VaultOS™ Energy Management System. The CRC has achieved mechanical completion and is currently in the commissioning phase, with full commercial operation expected to commence in the second quarter of 2025. Additionally, Energy Vault has secured Investment Tax Credits for two projects in Texas, with an anticipated yield of over $25 million.