Energy Vault Acquires McMurtre Battery Energy Storage System, Texas
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Energy Vault has acquired the McMurtre Battery Energy Storage System (BESS), a 175 MW / 350 MWh battery energy storage project located near Dallas, Texas. The project, acquired from Belltown Power, represents a significant addition to Energy Vault’s growing U.S. energy storage portfolio. Energy Vault intends to contribute the project to its Asset Vault investment platform upon the project achieving Ready-to-Build (RTB) status.
The 175 MW / 350 MWh McMurtre BESS is located in the ERCOT North market, one of the most active and high-growth power markets in the United States with strong demand for grid stability. Energy Vault carefully selected this point of interconnection for its exceptional revenue projections and strategic fit within ERCOT North — a market characterized by strong power price dynamics, robust grid infrastructure investment, and proximity to rapidly expanding data center demand near Dallas.
The project is expected to receive notice to proceed (NTP) in Q4 2026, with commercial operation targeted for December 2027. The McMurtre BESS features an executed small generator interconnection agreement (SGIA) and full site control, providing a clear and de-risked path to construction. Multiple investment-grade offtake structures are currently under consideration, consistent with Energy Vault’s strategy of securing bankable, front-loaded revenue streams across its portfolio.
“The McMurtre BESS is a prime example of the high-quality, strategic assets we are focused on building within our portfolio. With an executed SGIA, full site control, and strong positioning in the ERCOT North market near Dallas, McMurtre has the fundamental attributes our Asset Vault platform was designed to own and operate over the long term,” said Robert Piconi, chairman and chief executive officer of Energy Vault.
“This acquisition advances our near term 1,500 MW BESS deployment roadmap and reflects the power of our three-asset-class strategy — where BESS assets like McMurtre form the energy foundation that enables our powered land and powered shell offerings to create truly differentiated, integrated infrastructure for our customers and partners,” added Piconi.
“The company’s deliberate geographic and asset-class diversification is designed to deliver resilient and high margin long-duration revenue streams while positioning Energy Vault as a premier digital infrastructure partner in the world’s most strategically important energy markets,” concluded Piconi.
The McMurtre acquisition is also a meaningful expression of Energy Vault’s broader portfolio strategy. The company deliberately structured its Asset Vault platform around three complementary and synergistic asset classes — ownership of battery energy storage systems coupled with the high growth AI Compute segments of powered land and powered shells — that together provide asset portfolio diversification and create compounding value across the energy infrastructure lifecycle. BESS assets serve as the foundational layer of this strategy: they are the energy backbone that enables powered shell deployments, as demonstrated by the company’s recently announced partnership with Crusoe Energy Systems, where Energy Vault will deploy modular data center infrastructure close to BESS assets. McMurtre strengthens this foundation and advances Energy Vault’s ambition to be the leading provider of critical, sustainable energy infrastructure powering the AI-driven transformation of the global economy.
The McMurtre BESS will leverage Energy Vault’s B-VAULT™ AC Technology Platform 3, the company’s latest battery energy storage product, designed to enable rapid and cost-effective deployment while delivering high system availability in the ERCOT region. The company’s global B-VAULT™ portfolio now exceeds 3 GWh of deployed or contracted systems, spanning Europe, North America, and Australia, and is complemented by Energy Vault’s gravity, hydrogen, and sodium-ion storage platforms for multi-duration energy applications.
Energy Vault® develops, deploys and operates utility-scale energy storage solutions designed to transform the world’s approach to sustainable energy storage. The company’s comprehensive offerings include proprietary battery, gravity, green hydrogen, and sodium-ion energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the company’s technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Since 2024, Energy Vault has executed an own and operate asset management strategy developed to generate predictable, recurring and high margin tolling revenue streams, positioning the company for continued growth in the rapidly evolving energy storage asset infrastructure market.
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