Tuesday, February 7, 2023

Investors attack Swiss battery company

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Lost billions in market value

Investors attack Swiss battery company

Energy storage by lifting large weights. An impressive idea that first caused a sensation on the stock exchange and which is now threatened with a crash.

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Pictures from the Energy Vault test facility in Ticino: The idea is …

Start-up companies that are worth more than a billion on the stock exchange are considered unicorns. A rare species, to which the Swiss battery company Energy Vault has belonged since its IPO in February in New York. The market valuation of the Ticino company climbed to CHF 1.5 billion.

With the high flight it is over for the first. Energy Vault has lost over a billion francs in value. For the time being, there is no special designation for the achievement of a stumbling unicorn.

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