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Energy Vault and Jupiter Power Announce New Agreement for Battery Energy Storage System in Texas

LCG, June 4, 2025--Energy Vault Holdings Inc. (Energy Vault) and Jupiter Power (Jupiter) today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. The initial BESS project, located near Fort Stockton, Texas, was completed in July 2024, with a storage capacity 100 MW/200 MWh. The new BESS project will add another 100 MW/200 MWh of capacity. Construction has commenced, and the project is expected to achieve commercial operations by the end of this summer.

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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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Industry News

Energy Companies Feel the Heat On Climate Change

LCG, September 19, 2007--A confederation of environmental activists, investors and the financial officers of ten states and New York City submitted a petition to the Securities and Exchange Commission (SEC) yesterday that would require corporations to disclose risks related to climate change concerns.

The confederation includes the comptrollers of California, New York and New York City, the New York Attorney General, the chief financial officer of Florida, the pension funds of the California state government and teachers, the Environmental Defense, and Ceres, a national network of investors, environmental organizations and other public interest groups working to address climate change.

Last Friday, the New York Attorney General subpoenaed five energy companies to investigate if adequate information regarding financial risks related to climate change has been disclosed by the companies - AES Corporation, Dominion Resources, Dynegy, Peabody Energy Corporation, and Xcel. With the exception of Peabody, all of these companies have (or plan to have) significant investments in coal-fired power generation facilities.

In letters sent by the New York Attorney General to corporate executives at the five companies, the Attorney General states, "Regulation of greenhouse gas emissions on the state level, such as through the Regional Greenhouse Gas Initiative, will begin shortly in several states....Such regulation would likely add a significant cost to carbon-intensive coal generation." Furthermore, the letters state there are concerns that the companies have "failed to disclose material information about the increased climate risks" and possible financial impacts of climate change regulations. The Attorney General requested a response by October 9, 2007.

Peabody responded that the letter's claims of nondisclosure were inaccurate. "Peabody is happy to point out our clear disclosures regarding climate change and correct the letter's inaccuracies. For instance, the letter states that we don't have climate disclosure ... but in fact we do, in multiple places in our SEC filings on Form 10-K, annual report and social responsibility report. These are all available via Internet for anyone wanting to research the company."

Peabody further proclaimed, "The letter also includes the inaccurate claim that we currently operate power plants. As our investors understand, we are a minority partner in the proposed Prairie State Energy Campus in Southern Illinois and would own less than 10 percent."
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