Energy Vault lands $25M loan to expand battery storage portfolio
What's the deal? Energy Vault has secured a senior secured delayed draw term loan facility of up to $25 million through Development VaultDealroom has a profile for this one. Try Dealroom →, an indirect subsidiary. The financing came from S2G Builders Special Opportunities Fund I and other lenders, with $18 million already drawn as of the September 18, 2026 effective date.
The terms: The facility carries a cash interest rate of 10%, plus 7% payable in kind, and matures on April 16, 2030. It is secured by a first-priority lien on substantially all assets of the borrower and its subsidiaries.
What's the endgame? Energy Vault will use the money to acquire approved battery energy storage projects, fund sponsor equity contributions, and cover transaction costs and other project-related expenses. The structure lets it grow its portfolio while giving lenders standard project finance protections.
What does the company do? Energy Vault HoldingsDealroom has a profile for this one. Try Dealroom → develops and deploys battery energy storage projects through its subsidiaries, targeting utility-scale and large commercial applications. It relies on project-level financing to support acquisition, development, and construction.
What could go wrong? The company carries weak financials, with large ongoing losses, substantial cash burn, and high leverage on a thin equity cushion, according to TipRanks'Dealroom has a profile for this one. Try Dealroom → AI analyst. Its stock holds a most recent analyst rating of Sell with a $3.00 price target, and its market cap sits at $816.5 million.
The signal: The deal shows how energy storage developers are leaning on structured, project-level debt rather than dilutive equity to scale portfolios. For a company under financial pressure, the delayed draw structure offers a way to fund growth incrementally while backing lenders with hard asset collateral.
Read more: tipranks.com
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