Leonardo DiCaprio: ‘Energy storage tech replaces need for fossil fuels’

BY BEN COOK

  • Hollywood actor Leonardo DiCaprio joins Energy Vault board
  • DiCaprio has been investor in Energy Vault for two years
  • Energy Vault CEO says DiCaprio has ability to reach ‘broader audience’

Hollywood actor Leonardo DiCaprio has joined US grid-scale energy storage development company Energy Vault’s strategic advisory board.

Last week, Energy Vault began trading on the New York Stock Exchange following completion of the company’s business combination with Novus Capital Corporation II, a transaction that raised approximately $235 million in gross proceeds.

DiCaprio has been an investor in Energy Vault for the last two years.

DiCaprio joins Energy Vault ‘mission’

The Academy Award-winning actor, who established the Leonardo DiCaprio Foundation in 1998, a non-profit organization devoted to promoting environmental awareness, said: “Expanding the use of renewables is imperative to tackling the climate crisis and achieving the goals of the Global Climate Action Plan announced at COP26. Energy Vault’s innovative energy storage technology allows clean power to be used around the clock, replacing the need for fossil fuels.

“Focusing on sustainability, Energy Vault is able to use recycled and waste materials to make the composite blocks that are the heart of its technology. I am proud to join Energy Vault on its mission to accelerate decarbonization of our planet.”

Can Hollywood star promote energy storage concept?

Energy Vault know that the appointment of DiCaprio will not only significantly raise the profile of the company, but also help to promote the concept of energy storage to a wider audience. In addition, the goal is to raise awareness of the need to urgently tackle the issue of climate change. DiCaprio certainly has the clout to achieve these goals, with a Twitter following of nearly 20 million, he has become an increasingly significant contributor to the climate change debate in film and television as well as social media.

Robert Piconi, co-founder and CEO of Energy Vault, recognises the role DiCaprio can play in encouraging the global community to step up efforts to tackle climate change.

Piconi said: “From the time I have spent meeting with Leo and discussing our shared urgency for decarbonizing the planet, I have been most impressed with his priority and personal commitment broadly to sustainability, and specifically in elevating the discussion on the need to address climate change more aggressively as a global community.

“In addition to his multiple investments in Energy Vault the last two years, we are thrilled to have him play a more active role as a strategic advisor given the unique perspectives from his global following and his ability to reach a broader audience toward accelerating decarbonisation.”

Energy Vault has also announced that Mary Beth Mandanas, CEO of Onyx Renewable Partners and Thomas Ertel, chief accounting officer at Strada Education Network have joined the company’s board of directors.

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