Energy Vault to Host Fireside Chat with IPO Edge to Discuss Business Combination, Gravity-Based Energy Storage and Recent Business Partnerships

LUGANO, Switzerland & WESTLAKE VILLAGE, California, February 07, 2022–(BUSINESS WIRE)–Energy Vault, Inc. (“Energy Vault”), the company that develops sustainable, grid-scale energy storage solutions, today announced that it will host a conversation fireside with IPO Edge tomorrow, Tuesday, February 8 at 2 p.m. ET, to discuss the business combination with Novus Capital Corporation II (NYSE: NXU, NXU.U, NXU WS), innovative gravity storage technology of Energy Vault, the benefits of gravity storage and recent business partnerships with DG Fuels LLC, BHP, Korea Zinc Co., Ltd and Atlas Renewable LLC and their majority investor China Tianying Inc.

This live event will feature Energy Vault Co-Founder and CEO Robert Piconi, joined by IPO Edge Editor-in-Chief John Jannarone and Editor-in-Chief Jarrett Banks in a moderated video session of approximately 60 minutes. and including a Q&A session with the audience.

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To view the Edge IPO announcement regarding tomorrow’s fireside chat, CLICK HERE

Energy Vault previously announced an agreement for a business combination with Novus Capital Corporation II (NYSE: NXU, NXU.U, NXU WS), which is expected to result in the combined company listing on the New York Stock Exchange. The Special Meeting to approve the pending Business Combination, among other things, is scheduled to be held on February 10, 2022 at 10:00 a.m. Eastern Time (the “Special Meeting”). The Special Meeting will be held virtually and can be accessed via live webcast at If the special meeting proposals are approved, the parties anticipate that the business combination will close and that trading in the shares and warrants of the combined entity will continue to trade on the NYSE under the new symbols. NRGV” and “NRGV WS”, respectively, shortly thereafter, subject to the satisfaction or waiver, as the case may be, of all other closing conditions.

The vote of each shareholder is important, regardless of the number of shares held. Accordingly, Novus is asking each shareholder to complete, sign, date and return a proxy card (online or by mail) as soon as possible and no later than 11:59 p.m. Eastern Time on February 9, 2022, to ensure that the shareholder’s shares will be represented at the Special Meeting.

About the Energy Vault

Energy Vault develops sustainable energy storage solutions designed to transform the global approach to utility-scale energy storage for grid resilience. The Company’s proprietary gravity-based energy storage technology and energy storage management and integration platform is intended to help utilities, independent power producers and large energy users. energy companies to significantly reduce their levelized cost of energy while maintaining power reliability. Using environmentally friendly materials with the ability to integrate waste for beneficial reuse, Energy Vault is facilitating the shift to a circular economy while accelerating the transition to clean energy for its customers.

About Novus Capital Corporation II

Novus raised approximately $287.5 million in its February 2021 IPO and its securities are listed on the NYSE under the symbols “NYSE: NXU, NXU.U, NXU WS”. Novus is a special purpose acquisition company organized for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other business combination similar with one or more companies or entities. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing growth initiatives and news by leveraging insights from large data assets and intellectual property that already exist in most high-tech companies.

Forward-looking statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe,” “can”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “should”, “plan” , “predicted”, “potential”. seem’, ‘seek’, ‘future’, ‘prospects’, ‘designed’ and similar expressions which predict or indicate future events or trends or which are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of the proposed business combination and the benefits of the proposed business combination.

These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Energy Vault and Novus and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to serve as, and should not be relied upon by, any investor as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many real events and circumstances are beyond the control of Energy Vault and Novus.

These forward-looking statements are subject to a number of risks and uncertainties, including the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreements regarding the proposed business combination; the outcome of any legal proceedings that may be brought against Novus, Energy Vault or the combined company following the announcement of the proposed business combination; the parties’ inability to successfully or timely complete the business combination, including the risk that regulatory approvals may not be obtained, may be delayed or may be subject to unanticipated conditions that could adversely affect the company combination or the anticipated benefits of the business combination or Novus shareholder approval is not obtained; failure to realize the anticipated benefits of the business combination; the ability to meet stock exchange listing standards on or after the completion of the proposed business combination; changes in applicable laws or regulations; the amount of redemption requests made by Novus public shareholders; and the factors discussed in the registration statement and in Novus’ registration statement on Form S-4 regarding the business combination under the heading “Risk Factors”, and its annual report on Form 10-K for the year ended December 31, 2020 under the heading “Risk Factors” and other Novus documents filed or to be filed with the SEC.

Important information about the proposed business combination and where to find it

This communication relates to the proposed merger transaction between Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which has been declared effective, a definitive proxy statement/prospectus of Novus, and certain related materials, for use at the shareholders’ meeting to approve the proposed business combination and related matters. Investors and security holders of Novus are urged to read the definitive proxy statement/prospectus carefully and in its entirety, as well as any amendments thereto and other relevant documents that will be filed with the SEC, as they contain important information about Energy Vault, Novus and the business combination. The definitive proxy statement has been mailed to Novus shareholders on a record date to be determined to vote on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement, definitive proxy statement and other documents containing important information about each of the companies once these documents are filed with the SEC. , free of charge, on the SEC’s website at www Information contained on or accessible through websites referenced in this press release is not incorporated by reference into, and does not form part of, this press release.

Participants in the solicitation

Novus and its directors and officers may be considered participants in the solicitation of proxies from shareholders of Novus in connection with the proposed business combination. Energy Vault and its officers and directors may also be considered participants in such solicitation. Securityholders may obtain more detailed information regarding the names, affiliations and interests of certain of the officers and directors of Novus in the solicitation by reading Novus’ Annual Report on Form 10-K for the year ended December 31. 2020, the quarterly report on Form 10-Q for the nine months ended September 30, 2021 and the definitive proxy statement/prospectus and other relevant documents and other filings with the SEC in connection with the business combination. companies when they become available. As they become available, these materials may be obtained free of charge from the sources listed above.

No offer or solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

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