Energy Vault Q2 2026 backlog doubles as AI partnerships grow

Energy Vault Holdings Inc. reported a doubling of its backlog to $1.2 billion for the second quarter of 2026, driven by AI-driven energy storage solutions and expanded commercial partnerships.

The company’s latest investor presentation highlighted a surge in AI-related project wins, positioning energy storage as a critical enabler for data center and grid-scale applications. Energy Vault, which specializes in gravity-based energy storage systems, has seen its pipeline expand amid rising demand for reliable, long-duration storage solutions.

Backlog growth was attributed to multiple large-scale contracts secured in recent months, including agreements with technology and utility partners. The company did not disclose specific customer names but emphasized the role of AI in optimizing energy storage deployment and efficiency.

Energy Vault’s stock rose modestly in after-hours trading following the release of the slides, reflecting investor optimism about the company’s growth trajectory. Analysts noted that the doubling of backlog signals strong market demand for scalable energy storage, particularly as AI infrastructure expansion accelerates.

The company’s focus on AI integration aligns with broader industry trends, where energy storage is increasingly viewed as essential for supporting high-performance computing and renewable energy integration. Energy Vault’s technology, which uses weighted blocks and AI-driven control systems, has gained traction in markets seeking alternatives to lithium-ion batteries.

Management reiterated its target of achieving commercial viability for its systems by 2027, citing ongoing pilot projects and regulatory approvals as key milestones. The company’s latest financial update did not include revenue or earnings guidance for the quarter.