Energy Vault Breaks Ground on Powered AI Infrastructure Campus in Snyder, Texas to Deploy Crusoe Spark Modular Data Centers

About this update from Energy Vault Holdings, Inc.

Initial 8MW deployment of Crusoe Spark™ modular data centers, expandable to 25 MW and targeted for commercial operation in Q1 2027, demonstrating Energy Vault's "speed-to-power" AI energy infrastructure execution Energy Vault's new Snyder AI Campus has been designed as a sustainable and modular platform with planned capacity expansion up to 500MW with annual revenue per MW in line with prior guidance WESTLAKE VILLAGE, Calif., July 27, 2026--(BUSINESS WIRE)--Energy Vault, Inc. (NYSE: NRGV) ("Energy Vault"), a global energy infrastructure company supporting grid reliability and next-generation AI and high-performance computing infrastructure, today announced that construction has commenced at its powered AI infrastructure campus in Snyder, Texas, for Crusoe Cloud. The initial development, referred to as "Snyder AI," represents the first phase of Energy Vault's broader development strategy for the site. This construction milestone follows Energy Vault's previously announced commercial agreement with Crusoe and demonstrates the Company's execution of its AI infrastructure strategy. Phase 1 is designed to deliver an initial 8MW of powered shell capacity for Crusoe Cloud with expansion potential to 25MW in a second phase. Construction activities are underway across the site, including fiber installation, site preparation, power infrastructure, and enabling works required to support the deployment of the Crusoe Spark modular data center platform. Crusoe Spark units are designed for rapid deployment, with installation and commissioning timelines measured in weeks compared to years for traditional data center infrastructure. The Snyder powered AI infrastructure campus is designed to combine powered land, electrical infrastructure, N+1 redundancy, battery energy storage systems ("BESS"), and modular data center infrastructure. Energy Vault is purchasing ten Crusoe Spark modular data centers from Crusoe, which Crusoe will lease-back from Energy Vault as powered shell infrastructure. Crusoe Spark will deploy Crusoe Cloud computing capacity for training, fine-tuning, and inference customers. "This announcement is about speed and execution," said Marco Terruzzin, Chief Commercial and Development Officer of Energy Vault. "Earlier this year, we announced our commercial agreement with Crusoe. Today, we are building it. Our initial 8MW deployment is targeted for commercial...

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