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    Michael Renoff • Scoggin Management LP

    Michael Renoff is a Partner at Scoggin Management LP, specializing in event-driven and distressed investing strategies with deep expertise in energy and financial sectors. He has actively covered companies such as Energy Vault Holdings, demonstrating a track record of robust diligence and hands-on portfolio management that contributed to Scoggin's overall performance. Renoff began his tenure as Senior Analyst at Old Bell Associates (Scoggin's investment manager) in 2008, advancing to Partner and having previously held analytical roles within the finance industry. His professional credentials include significant experience managing institutional portfolios, though no specific securities licenses or FINRA registration details are publicly listed.

    Michael Renoff's questions to Energy Vault Holdings Inc (NRGV) leadership

    Michael Renoff's questions to Energy Vault Holdings Inc (NRGV) leadership • Q2 2025

    Question

    Michael Renoff of Scoggin Management LP asked for clarification on how the AssetVault business and its projected $100M EBITDA integrate with the parent company's financials, and requested a timeline for the Stony Creek project and other Australian activities.

    Answer

    Chairman & CEO Robert Piconi explained that the $100M EBITDA from AssetVault is complementary to the core solutions business. He detailed that cash flows back to the parent company via margins on EPC contracts, long-term service agreements (with 30-40% margins), and management fees. For Stony Creek, he outlined a timeline targeting final design approval by early Q1 2026, followed by construction through 2026 for an early 2027 commercial operation date (COD).

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