Energy Vault: Innovating Renewable Energy Storage

(MENAFN- Swissinfo) Robert Piconi, the Chair and CEO of Energy Vault, says high oil prices could actually be good news. Select your language

Generated with artificial intelligence. Listening: High oil prices could boost renewables, says Energy Vault CEO This content was published on April 25, 2026 - 10:30 12 minutes

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Energy Vault, a firm specialised in energy storage solutions for renewable sources such as solar and wind, is something of an exception for a Swiss-born company. It listed on the New York Stock Exchange (NYSE) in 2022 via an accelerated route called a SPAC (Special Purpose Acquisition Company) after raising more than $200 million (CHF156 million) as a startup – a record.

Swissinfo spoke with Robert Piconi, the American co-founder, Chairman and Chief Executive Officer of Energy Vault, in Lugano, canton Ticino. He discussed why the company established part of its operations to the United States and how he is leveraging electricity price volatility.

Swissinfo: How are you affected by current geopolitical tensions, including US tariffs and the ongoing instability in the Middle East?

RP: These tensions create uncertainty and tend to shift investor sentiment towards more predictable assets such as gold and fixed income. US tariffs have had a significant impact on us, effectively constraining access to the US market, as much of the battery supply chain depends on China.

We estimate that recent Middle East tensions have had a negative impact of around 25–30% on our share valuation, offsetting some of the gains from our strong 2025 performance. At the same time, sustained high oil prices can make renewable energy and storage solutions more attractive.

Swissinfo: Has the energy crisis and the high oil prices already led to more client interest?

R.P: Yes, absolutely. We are seeing a sharp increase in both inquiries and firm orders for our Battery Energy Storage System solutions from customers across both the American and European markets.

Sustained volatility in global energy markets has fundamentally shifted the corporate focus toward energy security and long-term cost stability. This dynamic is now being heavily compounded by the exponential surge in electricity demand from AI, data centres, and expanding digital infrastructure. There is an immediate, massive requirement for scalable, reliable power.

As a result, client engagement has moved rapidly from conceptual interest to immediate, utility-scale execution. Customers are actively procuring our medium- and long-duration storage solutions to firm intermittent renewables and ensure 24/7 grid stability under unprecedented load pressures. While our baseline growth remains anchored by secular trends like decarbonisation and grid modernisation, the current macro environment has dramatically accelerated both the velocity and scale of our commercial pipeline.

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