The Energy Vault Experience
The leadership team at Carbon Neutral Solutions Group LLC brings with them decades of invaluable experience and deep-rooted relationships throughout China and with IdealabX, the only venture capital fund globally with guaranteed early access on preferential terms to the deals created by Idealab Studio and Idealab NY. A significant milestone was the introduction of the Idealab-Founded U.S. company, Energy Vault, to China Tianying, a China Fortune 500 public company, through Atlas Renewable, LLC (where Carbon Neutral Solutions Group LLC President Olivier Contant is the Founding Investor and member Jonathan Cohen is an investor and the General Partner of IdealabX). The partnership resulted in the First gravity-based storage agreement between a U.S. and Chinese company to support China’s stated goals of Carbon Peak by 2030 and Carbon Neutrality by 2060, $50 million in new investment in conjunction with Energy Vault’s agreement to become a publicly-traded company, and $50 million in technology licensing as part of a multi-year License and Royalty agreement toward future multi-GWh deployments of Energy Vault’s innovative EVx platform. The first 100MWh EVx project is currently being commissioned in Rudong, Jiangsu Province, outside of Shanghai.