Cross Trails Energy Storage Project

Energy Vault — gravity-based + BESS grid-scale energy storage

Energy Vault Inc. (NYSE: NRGV) → Novus Capital Corporation II

$1.1B implied EV / $235M gross proceeds (incl. $195M PIPE)

Corporate financing — energy storage technology

Energy Vault Holdings (NRGV) → Convertible note investors

$150M

McMurtre Battery Energy Storage System — 175 MW / 350 MWh BESS, ERCOT North (near Dallas), Texas

Belltown Power → Energy Vault

175 MW

REE Automotive — modular EV "REEcorner" platform for fleets

REE Automotive (NASDAQ: REE) → 10X Capital Venture + $300M PIPE

$3.1B combined value; >$500M proceeds (incl. $300M PIPE)

Microvast — Li-ion battery systems for EVs and energy storage (ultra-fast charging, high cycle life)

Microvast Inc. → Tuscan Holdings Corp.

$3B (pro forma equity)

Section 45X Advanced Manufacturing Production Tax Credits (AMPCs) from US-manufactured solar modules (Ohio + Alabama + Louisiana facilities)

First Solar → Fiserv, Inc.

Up to $700M (at $0.96/$1)