Saudi Aramco Energy Ventures Invests in Energy Vault
Posted on 06/03/2021
Saudi Aramco Energy Ventures LLC (SAEV) is the corporate venturing subsidiary of Saudi Aramco. Saudi Aramco Energy Ventures made an investment in Lugano, Switzerland-based Energy Vault SA. Energy Vault is a maker of renewable energy storage products. Energy Vault’s first 5MW / 35MWh commercial scale system achieved mechanical completion in July 2020, concurrent with its connection to the Swiss national utility grid. Bill Gross, Andrea Pedretti, and Robert Piconi founded the company.