Energy Vault to Present at 24th Annual Needham Growth Conference

LUGANO, Switzerland & WESTLAKE VILLAGE, CA – (COMMERCIAL THREAD) – Energy Vault, Inc. (“Energy Vault”), the company that develops sustainable grid-scale energy storage solutions with its proprietary technology, today announced that CEO and Co-Founder Robert Piconi, will present at the 24e Annual Needham Growth Conference. The presentation will take place on Thursday, January 13, 2022 at 5 p.m. ET. A webcast of the event will be available at https://wsw.com/webcast/needham116/register.aspx?conf=needham116&page=envl&url=https://wsw.com/webcast/needham116/envl/2261138.

Energy Vault previously announced that it has entered into a business combination agreement with Novus Capital Corporation II (NYSE: NXU, NXU.U, NXU WS), (“Novus”), a Special Purpose Acquisition Company (SPAC), under which Energy Vault will combine with Novus.

About Energy Vault

Energy Vault develops sustainable grid-scale energy storage solutions designed to advance the transition to a resilient, carbon-free power grid. Energy Vault’s mission is to accelerate the decarbonization of our economy through the development of sustainable and economical energy storage technologies. To achieve this, Energy Vault designed the EVx and Energy Vault Resiliency Center (EVRC) platforms, advanced gravity energy storage solutions designed to minimize environmental and supply chain risks. Energy Vault’s gravity solutions are based on the proven fundamentals of the physics and mechanical engineering of pumped hydroelectric energy storage, but replace water with custom composite blocks, or “moving masses,” which do not lose storage capacity over time, and can be made from low cost, locally sourced materials including local soil, mine tailings, coal combustion tailings (coal ash ) and fiberglass from decommissioned wind turbine blades. Combining cycles of potential and kinetic energy, Energy Vault systems are automated with advanced computer control and machine vision software to create a gravity energy storage innovation designed to meet market demand for storage time from 2 to 12 hours. Energy Vault has offices in Westlake Village, California and Lugano, Switzerland, with the Swiss office serving as Energy Vault’s international headquarters.

About Novus Capital Corporation II

Novus raised approximately $ 287.5 million when it went public in February 2021 and its securities are listed on the New York Stock Exchange under the ticker symbols “NYSE: NXU, NXU.U, NXU WS”. Novus is a special purpose acquisition company organized for the purpose of effecting a merger, share swap, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination 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 considerable hands-on experience helping high-tech companies optimize their existing and new growth initiatives. by leveraging information-rich 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 the 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,” “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “should”, “plan” “,” Predict “,” seem “,” seek “,” future “,” prospect “,” 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, without limitation, statements regarding estimates and forecasts of financial and performance measures, projections of business opportunities, market, expectations and timeline related to the deployment of Energy Vault activities and timing of deployments, the proposed features and designs of the EVx and Energy Vault Resiliency Center (EVRC) platforms, the availability of low cost materials and ‘local origin to produce “moving masses”, customer growth and other business milestones, the potential benefits of the proposed business combination and investment in PIPE (the “Proposed Transactions”), and related expectations the schedule of proposed operations.

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 be used as, and should not be construed by an 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 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 changes in domestic and foreign business, business, financial, political and legal conditions; the inability of the parties to successfully or on time complete the proposed transactions, including the risk that regulatory approvals will not be obtained, be delayed or be subject to unforeseen conditions which could adversely affect the combined company or the expected benefits proposed transactions or the approval of shareholders of Novus or Energy Vault is not obtained; failure to realize the anticipated benefits of the proposed transactions; risks related to the uncertainty of forecast financial information concerning Energy Vault; risks related to the deployment of Energy Vault activities and the timing of expected business milestones; demand for renewable energy; ability to market and sell its solution; ability to negotiate definitive contractual agreements with potential clients; the impact of competitive technologies; ability to secure an adequate supply of materials; the impact of Covid-19; global economic conditions; ability to meet installation schedules; the effects of competition on Energy Vault’s future business; the amount of redemption requests made by public shareholders of Novus; and the factors discussed in Novus’ registration statement and registration statement on Form S-4 regarding the business combination under “Risk Factors”, and its annual report on Form 10-K for the fiscal 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 is made in connection with the proposed merger transaction involving Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which includes a Novus Proxy Circular / Preliminary Prospectus, and certain related documents, to be used at the meeting of shareholders to approve the Combination of proposed companies and related issues. Investors and holders of securities of Novus are urged to read carefully and in its entirety the Proxy Circular / Prospectus, together with any amendments thereto and other relevant documents which will be filed with the SEC, as they contain important information about Energy Vault, Novus and the business combination. The definitive proxy circular will be mailed to shareholders of Novus on a record date to be established for voting on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once these documents are filed with the SEC, free of charge, from the website. of the SEC at www.sec.gov. The information contained on, or accessible through, the websites referenced in this press release is not incorporated by reference into, and does not form part of, this press release.

Participants in the call for tenders

Novus and its directors and officers may be considered participants in the solicitation of proxies from the shareholders of Novus in connection with the proposed business combination. Energy Vault and its officers and directors may also be considered participants in any such solicitation. Securityholders may obtain more detailed information regarding the names, affiliations and interests of certain officers and directors of Novus in the solicitation by reading the Novus Annual Report on Form 10-K for the fiscal year ended December 31. 2020, the quarterly report on Form 10-Q for the six-month period ended June 30, 2021 and the management proxy circular / prospectus and other documents and other relevant documents filed with the SEC in connection with the business combination when ‘they will be available. Information regarding the interests of Novus participants in the solicitation, which in some cases may differ from those of their shareholders in general, will be set out in the proxy circular / business combination prospectus when they will be available.

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 a vote or approval, and there will be no sale of securities in any state or jurisdiction in which a such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of that other jurisdiction.


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