Subsidiaries of Energy Vault Holdings, Inc. have entered into a credit agreement for a senior secured term loan facility totaling approximately $137.5 million. The proceeds are designated to finance the purchase, installation, and commissioning of power generation equipment under a related equipment supply agreement.
Key Details
- Agreement: On August 14, 2026, subsidiaries EV Gen Set 1, LLC and EV Gen Set I HoldCo, LLC entered into the credit agreement.
- Loan Terms: The facility provides for a senior secured term loan of approximately $137.5 million and matures on January 2, 2028.
- Interest Rates: Loans bear interest at either a SOFR-based rate starting at 6.75% or an ABR-based rate starting at 5.75%, with rates increasing after December 31, 2026.
- Security: The obligations are guaranteed by the holding subsidiary and secured by a first-priority security interest in substantially all assets of the borrower and holding subsidiary, including rights under the equipment supply agreement.