# EDGAR Filing Document

**Accession Number:** 0001828536
**File Stem:** 0001828536-25-000092
**Filing Date:** 2025-7
**Character Count:** 25688
**Document Hash:** 4f2b79b85a3ed83b09c8598fab0b0d0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001828536-25-000092.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001828536-25-000092

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**EFFECTIVENESS DATE**: 20250728

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Energy Vault Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001828536
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 853230987
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288996
- **FILM NUMBER:** 251155645

**BUSINESS ADDRESS:**
- **STREET 1:** 4165 EAST THOUSAND OAKS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** WESTLAKE VILLIAGE
- **STATE:** CA
- **ZIP:** 91362
- **BUSINESS PHONE:** 805-852-0000

**MAIL ADDRESS:**
- **STREET 1:** 4165 EAST THOUSAND OAKS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** WESTLAKE VILLIAGE
- **STATE:** CA
- **ZIP:** 91362

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Novus Capital Corp II
- **DATE OF NAME CHANGE:** 20201015

**As filed with the Securities and Exchange Commission on July 28, 2025**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**Energy Vault Holdings, Inc.**

**(Exact name of registrant as specified in its charter)**

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| | |
|:---|:---|
| **Delaware**<br>**(State or other jurisdiction of**<br>**incorporation or organization)** | **85-3230987**<br>**(I.R.S. Employer**<br>**Identification No.)** |

---

**4165 East Thousand Oaks Blvd.<br>Suite 100<br>Westlake Village, California 91362**

**(Address of Principal Executive Offices)**

**ENERGY VAULT HOLDINGS, INC. 2025 EMPLOYMENT INDUCEMENT AWARD PLAN** 

**(Full title of the plan)**

**Brad Eastman<br>Chief Legal Officer<br>4165 East Thousand Oaks Blvd.<br>Suite 100<br>Westlake Village, California 91362**

**(Name and address of agent for service)**

**(805) 852-0000**

**(Telephone number, including area code, of agent for service)**

***Copies to:***

---

| | |
|:---|:---|
| **Michael Beer**<br>**Chief Financial Officer**<br>**4165 East Thousand Oaks Blvd.**<br>**Suite 100**<br>**Westlake Village, California 91362**<br>**Tel: (805) 852-0000** | **Patrick H. Shannon <br>Samuel D. Rettew <br>555 Eleventh Street, NW**<br>**Suite 1000**<br>**Washington, D.C. 20004-1304 <br>Tel: (202) 637-2200** |

---

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | □ | Accelerated filer | ⌧ |
| Non-accelerated filer | □ | Smaller reporting company | ⌧ |
| | | Emerging growth company | ⌧ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.

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**EXPLANATORY NOTE**

Energy Vault Holdings, Inc. (the "Registrant") is filing with the Securities and Exchange Commission (the "SEC") this registration statement on Form S-8 (this "Registration Statement") for the purpose of registering 8,000,000 shares of its common stock, par value $0.0001 per share (the "Common Stock") for issuance under the Energy Vault Holdings, Inc. 2025 Employment Inducement Award Plan (the "Inducement Plan") adopted by the Registrant's board of directors on February 20, 2025. The Inducement Plan provides for, among other things, the grant, at the discretion of the board of directors, acting through a majority of its members who qualify as "independent" within the meaning of the New York Stock Exchange ("NYSE") Rule 303A.02 or the compensation committee of the board of directors of Awards (as defined in the Inducement Plan), upon the terms and subject to the provisions of the Inducement Plan, with respect to the Common Stock.

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**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

The documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act"). These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

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**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.**

The following documents previously filed by the Company with the Commission are incorporated by reference into this Registration Statement:

(1) The Company's prospectus dated May 6, 2022 filed on May 9, 2022 pursuant to Rule 424(b) under the Securities Act, relating to the <u>[Registration Statement on Form S-1, as amended (File No. 333-262720)](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000110465922023111/nrgv-20220215xs1.htm)</u>;

(2) <u>[The Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Commission on April 1, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000032/nrgv-20241231.htm)[;](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000032/nrgv-20241231.htm)</u>

(3) <u>[The Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 filed with the Commission on May 13, 2025;](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000063/nrgv-20250331.htm)</u>

(4) <u>[The Company's Current Reports on Form 8-K, filed with the Commission on April 21, 2025,](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000044/nrgv-20250416.htm)[May 30, 2025,](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000069/nrgv-20250530.htm)[June 5, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000073/nrgv-20250530.htm)</u> <u>[and June 11, 2025; and](https://www.sec.gov/ix?doc=/Archives/edgar/data/1828536/000182853625000081/nrgv-20250611.htm)</u>

(5) The description of the Company's common stock contained in the Company's Registration Statement on <u>[Form 8-A (File No. 001-39982), filed with the SEC on February 2, 2021](https://www.sec.gov/Archives/edgar/data/1828536/000110465921010636/tm212024d2-8a12b.htm)</u>, including any amendments or reports filed for the purpose of updating such description.

All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to the Registration Statement, which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed incorporated by reference into this Registration Statement and to be a part hereof from the date of the filing of such documents, except that information furnished to the Commission under Item 2.02 or Item 7.01 in Current Reports on Form 8-K and any exhibit relating to such information, shall not be deemed to be incorporated by reference in this Registration Statement.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any other subsequently filed document which also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such earlier statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.** 

Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation's board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the Delaware General Corporation Law are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Securities Act of 1933, as amended, or Securities Act.

Our Certificate of Incorporation contains provisions limiting the liability of directors, and our Bylaws provide that we will indemnify each of our directors to the fullest extent permitted under Delaware law. The

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Certificate of Incorporation and Bylaws also provide us with discretion to indemnify officers and employees when determined appropriate by the Board of Directors.

We have entered into indemnification agreements with each of our directors and executive officers. The indemnification agreements provide that we indemnify each of our directors and executive officers against any and all expenses incurred by that director or executive officer because of his or her status as one of our directors, executive officers or other key employees, to the fullest extent permitted by Delaware law, our Certificate of Incorporation and our Bylaws. In addition, the indemnification agreements provide that, to the fullest extent permitted by Delaware law, we will advance all expenses incurred by our directors, executive officers, and other key employees in connection with a legal proceeding involving his or her status as a director or executive officer.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

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| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| &nbsp;&nbsp;&nbsp;<u>4.1</u> | <u>[Amended and Restated Certificate of Incorporation of Energy Vault Holdings, Inc. (incorporated by reference to Exhibit 3.2 to Energy Vault Holdings, Inc.'s Current Report on Form 8-K (File No. 001-39982), filed with the SEC on February 14, 2022).](https://www.sec.gov/Archives/edgar/data/1828536/000110465922023106/tm225795d16_ex3-2.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>4.2</u> | <u>[Amended and Restated Bylaws of Energy Vault Holdings, Inc. (incorporated by reference to Exhibit 3.1 to Energy Vault Holdings, Inc.'s Current Report on Form 8-K (File No. 001-39982), filed with the SEC on February 14, 2022).](https://www.sec.gov/Archives/edgar/data/1828536/000110465922023106/tm225795d16_ex3-1.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>5.1\*</u> | <u>[Opinion of Latham & Watkins LLP.](exhibit231-nrgvxsx82025x.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>23.1\*</u> | <u>[Consent of Latham & Watkins LLP (included as part of Exhibit 5.1 hereto).](exhibit231-nrgvxsx82025x.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>23.2\*</u> | <u>[Consent of BDO USA, P.C, independent registered public accounting firm.](formofconsent_232.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>24.1\*</u> | <u>[Power of Attorney (included in the signature page to this registration statement).](#idf62622b644548c7b6200a680b454e75_122)</u> |
| &nbsp;&nbsp;&nbsp;<u>99.1</u> | <u>[2025 Employment Inducement Award Plan (incorporated by reference to Exhibit 10.1 to Energy Vault Holdings, Inc.'s Form 10-Q (File No. 001-39982), filed with the SEC on May 13, 2025).](https://www.sec.gov/Archives/edgar/data/1828536/000182853625000063/ex1012025inducementplan.htm)</u> |
| &nbsp;&nbsp;&nbsp;<u>107\*</u> | <u>[Calculation of Filing Fee Table](exhibit107filingfee.htm)</u> |

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\*Filed herewith.

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**Item 9. Undertakings.** 

(a) The undersigned Company hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement; *provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Company hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Westlake Village, in the State of California, on July 28, 2025.

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| | |
|:---|:---|
| ENERGY VAULT HOLDINGS, INC. | ENERGY VAULT HOLDINGS, INC. |
| By | /s/ Robert Piconi |
| Name: | Robert Piconi |
| Title: | Chief Executive Officer |

---

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**POWER OF ATTORNEY** 

Each person whose signature appears below constitutes and appoints Robert Piconi as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in his or her name, place and stead, in any and all capacities, to sign any or all further amendments (including post-effective amendments) to this registration statement (and any additional registration statement related hereto permitted by Rule 462(b) promulgated under the Securities Act (and all further amendments, including post-effective amendments, thereto)), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| Signature | Title | Date |
| /s/ Robert Piconi | Chief Executive Officer and Director | June 5, 2025 |
| Robert Piconi | (Principal Executive Officer) |  |
| /s/ Michael Beer | Chief Financial Officer | June 2, 2025 |
| Michael Beer | (Principal Financial Officer and Principal Accounting Officer) |  |
| /s/ Larry Paulson | Director | June 2, 2025 |
| Larry Paulson |  |  |
| /s/ Dylan Hixon | Director | June 3, 2025 |
| Dylan Hixon |  |  |
| /s/ Theresa Fariello | Director | June 2, 2025 |
| Theresa Fariello |  |  |
| /s/ Stephanie Unwin | Director | June 6, 2025 |
| Stephanie Unwin |  |  |
| /s/ Thomas Ertel | Director | June 2, 2025 |
| Thomas Ertel |  |  |
| /s/ Mary Beth Mandanas | Director | June 2, 2025 |
| Mary Beth Mandanas |  |  |

---

## Ex-Filing

**Exhibit 107** 

**Calculation of Filing Fee Tables** 

Form S-8

(Form Type)

Energy Vault Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u> 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Security Type | Security<br>Class<br>Title | Fee<br>Calculation<br>Rule | Amount<br>Registered (1) | Proposed<br>Maximum<br>Offering<br>Price Per<br>Share (2) | Maximum<br>Aggregate<br>Offering<br>Price | Fee<br>Rate | Amount of<br>Registration<br>Fee |
| Equity | Common Stock, $0.0001 par value per share | 457(c) and 457(h) | 8000000 | $1.03025 | $8242400.00 | $153.10 per $1,000,000 | $1261.91 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $8242400.00 |  | $1261.91 |
| Total Fee Offsets (3) | Total Fee Offsets (3) | Total Fee Offsets (3) | Total Fee Offsets (3) |  |  |  |  |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $1261.91 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this registration statement covers 8,000,000 shares of the Registrant's common stock issuable under the Energy Vault Holdings, Inc. 2025 Employment Inducement Award Plan (the "Inducement Plan"). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement shall also cover any additional shares of common stock of the Registrant that become issuable under the Inducement Plan by reason of any stock dividend, stock split, recapitalization or similar transaction effected without the Registrant's receipt of consideration which would increase the number of outstanding shares of common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act and based upon the average of the high and low prices of the Common Stock as reported on the New York Stock Exchange on July 22, 2025, which date is within five business days prior to filing this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)The Registrant does not have any fee offsets.

## Exhibit 5.1

![](exhibit231-nrgvxsx82025x001.jpg)

Exhibit 5.1 555 Eleventh Street, N.W., Suite 1000 Washington, D.C. 20004-1304 Tel: +1.202.637.2200 Fax: +1.202.637.2201 www.lw.com FIRM / AFFILIATE OFFICES Austin Milan Beijing Munich Boston New York Brussels Orange County Century City Paris Chicago Riyadh Dubai San Diego Düsseldorf San Francisco Frankfurt Seoul Hamburg Silicon Valley Hong Kong Singapore Houston Tel Aviv London Tokyo Los Angeles Washington, D.C. Madrid July 28, 2025 Energy Vault Holdings, Inc. 4165 East Thousand Oaks Blvd. Suite 100 Westlake Village, California 91362 Re: Registration Statement on Form S-8; 8,000,000 shares of Common Stock of Energy Vault Holdings, Inc., par value $0.0001 per share To the addressee set forth above: We have acted as special counsel to Energy Vault Holdings, Inc., a Delaware corporation (the "Company"), in connection with the registration by the Company of an aggregate of 8,000,000 shares of common stock of the Company, par value $0.0001 per share (the "8,000,000 Shares"), issuable under the Company's 2025 Employment Inducement Incentive Plan (the "Plan"). The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the "Act"), filed with the Securities and Exchange Commission (the "Commission") on July 28, 2025 (the "Registration Statement"). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the related prospectus, other than as expressly stated herein with respect to the issuance of the Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the "DGCL"), and we express no opinion with respect to any other laws. Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, or certificates representing the Shares have been manually signed by an authorized officer of the transfer agent and registrar therefor, and have been issued by the Company for legal consideration (not less than par value) in the circumstances contemplated by the Plan, assuming in each case that the individual issuances, grants or awards under the Plan are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plan (and the agreements and awards duly adopted thereunder and in accordance therewith), the issuance and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL.

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![](exhibit231-nrgvxsx82025x002.jpg)

July 28, 2025 Page 2 This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. Sincerely, /s/ Latham & Watkins LLP

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## Exhibit 23.2

**Exhibit 23.2**

<u>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM'S CONSENT</u>

We hereby consent to the incorporation by reference in this Registration Statement of our reports dated March 31, 2025, relating to the consolidated financial statements of Energy Vault Holdings Inc. (the Company) appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

/s/ BDO USA, P.C.

New York, New York

July 28, 2025

<br>