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Akshay Ladwa, Chief Engineering Officer at Energy Vault Holdings , Inc. (NASDAQ:NRGV), sold 15046 shares of common stock on July 18, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at $0.8105, for a total transaction value of $12194. The sale comes as the company, currently valued at $127 million, faces significant challenges with InvestingPro data showing rapid cash burn and negative EBITDA of -$124 million in the last twelve months.
Following the transaction, Ladwa directly owns 2181042 shares of Energy Vault.
The sale was executed to cover the executive’s tax obligations upon the vesting of restricted stock units.
In other recent news, Energy Vault Holdings Inc (NYSE:NRGV). reported its first-quarter 2025 earnings, showcasing a revenue increase of 10% year-over-year to $8.5 million, though it missed earnings per share forecasts, posting -$0.14 against an expected -$0.12. Despite the earnings miss, the company maintained its 2025 revenue guidance and highlighted an improved gross margin of 57.1%, up from 26.7% the previous year. Energy Vault also announced a significant agreement with Jupiter Power to supply a 100 MW/200 MWh battery energy storage system to the Electric Reliability Council of Texas (ERCOT) region, aiming to enhance grid resiliency. The construction of this system is underway, with commercial operations expected by summer 2025.
Additionally, Energy Vault has expanded its footprint with a 10-year, 30 GWh license agreement with India’s SPML Infra, reflecting its strategic focus on international growth. The company also successfully commissioned its first owned energy storage assets in Texas and California, marking a milestone in its operational capabilities. Energy Vault’s partnership with Jupiter Power began in 2022, and the new agreement further strengthens their collaboration. Furthermore, the company is targeting $100 million in recurring annual EBITDA from its owned assets as part of its long-term strategy.
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