Novus Capital Corporation II (NXU) to Combine with Energy Vault in $1.1Bn Deal

Novus Capital Corporation II (NXU) to Combine with Energy Vault in $1.1Bn Deal

Novus Capital II (NYSE:NXU) has entered into a definitive agreement to combine with kinetic energy storage company Energy Vault at an enterprise value of $1.13 billion, or 2.1x its 2023E revenue. Westlake Village, California-based Energy Vault is developing a utility scale energy storage solution that uses gravity to release energy by de-stacking heavy slabs. The
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