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Get filing alertsEnergy Vault pivots to asset ownership, raises $300M for Asset Vault amid tariff headwinds
Filed March 18, 2026 · Period ending December 31, 2025 · Compared to 10-K Apr 1, 2025 · ~2 min read
Key Changes
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Launched Asset Vault subsidiary with $300M capital commitment from Orion Infrastructure Capital to own and operate energy storage assets; two systems now operational (Cross Trails, Calistoga) with 10+ year contracted revenue.
Business: Asset Vault platform launch verify on EDGAR → -
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Revenue surged 341% to $203.7M in FY2025 from $579,853 in FY2024; net loss improved 24% to $103.6M from $135.8M, driven by higher gross profit and lower credit loss provisions.
MD&A: Revenue and net loss verify on EDGAR → -
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Tariff policy changes on China-origin lithium-ion batteries caused project delays and cancellations; company evaluating alternative sourcing but cannot assure commercially reasonable terms.
Business: Tariff policy changes verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify