From Concept to Commercial Success: The Journey of Energy Vault's Sustainable Energy Solutions

Know Power

Welcome back to Know Power, the podcast where we explore the latest developments and innovations in the world of renewable energy and power. In today's episode, we are diving into the fascinating world of energy storage solutions. Our guest, Robert Piconi, will take us on a journey through the clean energy transition, sharing insights on the deployment of renewable energy and the importance of power energy storage in countries like China. We'll uncover the role of gravity- and non-lithium-based technology in energy storage, and how companies like Energy Vault are spearheading the charge. Piconi will also shed light on the rapid growth of his company, the challenges faced during the COVID-19 pandemic, and explore the increasing interest in clean energy and ESG investments. Along the way, we'll discover the crucial role of green hydrogen in the clean energy transition, and how it's being utilized to power cities during planned or unplanned shutdowns. So buckle up and get ready to expand your knowledge on the power of energy storage, in this enlightening episode of Know Power.

Guest bio: Robert Piconi has had a fascinating journey in the energy industry. He began his career working for traditional and integrated oil companies, including the prominent Amaco before its merger with British Petroleum. Starting in the energy sector, Robert witnessed the mindset that prevailed at the time, with the belief that any problem could be solved as long as oil prices remained below $20 a barrel. However, his path took an unexpected turn, leading him back to the world of renewable energy. Throughout his career, Robert has seen the industry undergo significant changes. He experienced the transition from a heavily fossil fuel-centric approach to a growing emphasis on renewable sources. This shift sparked his interest, and he recognized the potential for renewable energy to make a lasting impact. Today, with oil prices soaring above $90 a barrel, Robert's decision to venture into the renewable energy sector has proved prescient. His unique journey highlights his adaptability and forward-thinking nature. He has exemplified the ability to navigate through evolving landscapes and find opportunities for growth. Robert's experiences in both traditional and renewable energy sectors have given him a well-rounded perspective, making him a valuable asset in today's ever-changing and environmentally conscious world. As the energy industry continues to evolve, Robert is dedicated to driving change and contributing to a sustainable future.

[00:02:11] Robert’s career evolution to date

[00:04:00] Urgency, economics, and sustainability

[00:06:38] The carbon footprint of concrete fabrication

[00:10:00] Struggles in light of COVID-19

[00:14:09] 10% incentive for serving energy communities, 45X advanced manufacturing production credit, green hydrogen project with PG&E.

[00:16:32] Innovations needed for power storage outside of lithium-ion

[00:20:15] Quick market growth, investor support, and industry shifts

[00:27:31] The state of R&D investment in new technology worldwide

[00:30:04] Importance of carbon capture technology and decarbonization efforts

[00:36:24] Global markets addressed with unique software-based technologies

[00:40:44] How leadership impacts employee experience & company culture

[00:42:56] An emphasis on inclusion and transparency

[00:48:36] Natural gas used for multi-day power storage

[00:50:52] Public utility approvals obtained for California project

[00:53:17] “Microgrids” as backup for military bases and data centers

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Noha Sidhom

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Mike Borgatti

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Gabel Associates