Jayzus! This one up +34.55% on 20x Normal Volume:
Had I not been at the clinic, pharmacy, yada, yada, I could have possibly been home viewing this story:
Rob, this one might interest you. I’ve been in since the $3.60, and will add a bit more in after-hours if it hasn’t gotten away from me. Swiss firm expanding rapidly with unique energy storage in empty buildings they construct (very low maintenance), or empty buildings already standing (I think I read 10 stories or higher are the best) no offices (except ground floor), very few workers to run (think a building of Otis Elevators, no people, no furniture, no bathrooms on every floor, etc.) and people all over the world now contracting with them to use gravity assisted dynamos to convert Gravity into stored electricity. During the day, elevators rise from solar, wind, hot springs, and other clean methods. Can also be built over empty, vertical, mines.
On other thing I learned was these guys are more than these elevators which produce electricity. They are now into battery storage (who makes these batteries?) and other alt-energy (what?) so, if you can scope out any of this and come up with ballpark figures on margins, it would be a huge assist as I go for another layup on my charts:
Quick view for earnings. Need some help, people. My brain is like a bowl of mashed potatoes today from all the “shots” and a quick chemo boost.
Revises full year 2022 revenue range to $142 – $152 million from previous $75-100 million*
Significant fourth quarter over-performance driven by U.S. energy storage project execution and global gravity storage territory expansions*
Updated 2023 outlook to be provided concurrent with upcoming earnings results in late-February 2023*
Inc. (NYSE: NRGV) (“Energy Vault” or the “Company”), a leader in sustainable, grid-scale energy storage solutions, today announced updated fourth quarter and full year 2022 expected revenue results for its fiscal year ended December 31, 2022.
For the full year 2022, Energy Vault expects total revenue of $142 to $152 million, ahead of the Company’s previously communicated full year 2022 guidance of $75 to $100 million. The revised guidance implies expected fourth quarter 2022 revenue of between $96 and $106 million, compared to $29 to $54 million previously required to meet its full year 2022 forecast following the reporting of third quarter 2022 results.
Higher than forecasted results for full year 2022 were driven by project and supply chain execution ahead of schedule for previously announced battery energy storage systems (BESS) in the United States as well as territory expansions in Europe and the Middle East for the Company’s gravity energy storage systems (GESS).
Robert Piconi, Energy Vault’s Chairman and CEO commented, “The Energy Vault team closed the quarter well, demonstrating our collective enterprise focus on delivering for customers while capping off a successful first deployment year of growth and expansion. Despite the industry and supply chain pressures, our team demonstrated laser focus on the critical path of execution, reflecting the prioritization that Energy Vault received from suppliers during the quarter due to our commercial growth and strong global relationships. On our earnings call to be scheduled for late-February, we look forward to reviewing our full year 2022 results in greater detail and providing an update on the activity positively impacting our 2023 outlook.”
