An Energy Storage SPAC Crashing to the Ground

Chris Drose from Bleecker Street Capital makes the case that Energy Vault (NRGV) fails the common sense test with its newest rendering of a gravity battery. Despite its earth-shattering technology failing even the most childish levels of high school physics, Energy Vault still managed to land a large investment from SoftBank. With SoftBank’s blessing, the company then presented at the World Economic Forum as a technology pioneer, and that launched its never-ending campaigns of grandiose promises. Chris makes the argument that Energy Vault has yet to produce a viable product, yet each failure is followed by an even larger announcement of a new project.Today