Energy Vault Holdings Inc, a provider of sustainable energy storage solutions, has successfully closed $28 million in project financing for its Calistoga Resiliency Center (CRC) in California. The CRC, developed to serve a tolling contract with Pacific Gas & Electric Company (PG&E), is a hybrid microgrid energy storage facility that integrates advanced hydrogen fuel cells with lithium-ion batteries. This unique system aims to address power resiliency challenges caused by increasing wildfire risks in California. The CRC, under site commissioning, offers 48 hours of continuous energy supply with a peak power output of 8.5 MW during necessary Public Safety Power Shutoff (PSPS) events. It uses green hydrogen in fuel cells for electricity generation, supported by Energy Vault's B-VAULT DC battery technology to ensure instantaneous response and grid stability. The project aligns with California's Renewable Portfolio Standard and PG&E's energy storage requirements. Energy Vault's VaultOS Energy Management System manages the microgrid, providing black-start, grid forming, and seamless performance orchestration. It serves as a model for future utility-scale deployments and aims to help communities maintain critical services during power shutoffs, enhancing energy resilience. Robert Piconi, Chairman and CEO of Energy Vault, highlighted the importance of the CRC in ensuring energy resilience for the Calistoga community and emphasized the role of advanced energy storage technology in addressing wildfire risks. The successful project financing signifies a step forward in Energy Vault's growth strategy and commitment to sustainable energy solutions.