Cemex creates strategic partnership with Energy Vault

Cemex Research Group AG will is creating a strategic partnership with Energy Vault of Switzerland to launch the first gravity-based energy storage system. Energy vault uses a crane to lift 35t concrete blocks with excess electricity, then discharges electricity when demand requires by lowering the blocks to turn turbines.

Cemex is working on material applications which include the optimisation of various concrete-based materials that will support Energy Vault's system deployments globally.

"The world needs rapidly scalable and sustainable energy storage solutions to meet one of the most urgent challenges – the need to decarbonise our energy generation – and we're thrilled to launch Energy Vault's unique technology to help solve this problem,” said Robert Piconi, chief executive officer and co-founder, Energy Vault. "In addition to the vital environmental benefits that it provides, the system's radical reduction in $kWh and overall levelised cost of storage enables our customers to provide dispatchable and baseload power cheaper than fossil fuels for the very first time. We're also excited to begin our important collaboration with Cemex whose innovation in material composite technologies and global footprint will help accelerate achieving our collective sustainability goals."

"Energy Vault's team has developed a disruptive platform, and we are enthusiastic to work with their team to deploy an environmentally efficient and cost-effective energy storage solution that is highly viable," said Dr Davide Zampini, Head of CemexGlobal R&D and IP. "We share a common commitment to enable a future where resources are used responsibly, which is paramount to Cemex's strategy for sustainable development."