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July 12-16

Companies Will Also Focus on Deployment of Energy Vault’s Transformative, New EVx Energy Storage Technology Within Aramco

LUGANO, Switzerland & DHAHRAN, Saudi Arabia–(BUSINESS WIRE)–June 2, 2021–

Energy Vault, the creator of renewable energy storage products that are transforming the world’s approach to utility-scale energy storage for grid resiliency, today announced new investment from Saudi Aramco Energy Ventures (SAEV), the strategic technology venturing program of global integrated energy and chemicals company Aramco (TADAWUL: SAUDI ARAMCO). Energy Vault will use the funds to accelerate global deployment of its technology, which is designed to enable intermittent renewable energy generation to be stored at GW-hour scale both economically and sustainably, to deliver dispatchable power on demand. The amount of the investment was not disclosed.

Energy Vault’s breakthrough technology was inspired by pumped hydro plants that rely on the power of gravity and the movement of water to store and discharge electricity. The company’s solution is based on the same well-understood fundamentals of physics and mechanical engineering used in those plants, but replaces water with custom-made composite blocks through an innovative use of local, low-cost materials and sophisticated material science. The blocks are combined with Energy Vault’s proprietary system design and machine vision, AI-enabled software to operate a specially designed crane which uses proprietary technology to autonomously orchestrate the lifting and lowering of the blocks, thus storing the potential energy at height and then discharging electricity as the blocks are lowered and generating electricity. Importantly, the blocks are made from locally sourced soil, sand or waste materials, including outputs of fossil fuel production, such as coal combustion residuals, and end of life energy components, such as wind blades. Energy Vault’s first 5MW / 35MWh commercial scale system achieved mechanical completion in July 2020, concurrent with its connection to the Swiss national utility grid. The system has since been utilized by Energy Vault customers around the world for direct application testing and ancillary services protocols.

Over the last two years, Energy Vault has worked closely with the largest utility and energy companies in the world to further optimize its energy storage technology platform to be more flexible and address both higher power and variable duration needs. The result is the EVx product platform that sets a new industry benchmark in energy storage economics.

The new platform is a natural evolution of the company’s proven technology, leveraging all current performance attributes of zero degradation in storage medium, high round-trip efficiency, long technical life, a sustainable supply chain, and composite bricks. EVx introduces a highly scalable and modular architecture that can be built out in 10MWh increments that can scale to multi-GW-hour storage capacity. In addition, EVx offers full flexibility in terms of duration because energy and power are decoupled, allowing deployments for both high power/shorter duration needs (2-6 hours) in addition to longer duration storage applications (6-12 hours+). Importantly, the new platform is 40 percent lower in height and utilizes the same composite block weights that can be made from waste and remediation material for beneficial re-use, such as coal combustion residuals (coal ash), fiberglass from de-commissioned wind turbine blades and waste tailings from mining processes. The result is unprecedented economics that are significantly lower than any other energy storage technology on a Levelized Cost of Storage basis.

Energy Vault’s energy storage system is ideal for companies in many industrial verticals that have24/7 power needs and are making a transition to clean energy. Other regional examples include desalination plants, which require around the clock industrial power to reliably and economically deliver clean drinking water.

“Our mission at SAEV is to invest in companies developing technologies with strategic importance to Aramco. Energy Vault’s innovative energy storage technology has unique environmental and economic benefits. We are excited to help Energy Vault further accelerate the global deployment of its technology,” said Mahdi Aladel,CEO of Aramco Ventures.

“Energy Vault has made rapid and meaningful progress over the last 12-18 months as we completed the first commercial scale deployment of our technology and we are pleased to have SAEV’s support as a strategic partner,” said Robert Piconi, CEO and Co-Founder, Energy Vault.

About Saudi Aramco Energy Ventures

Saudi Aramco Energy Ventures LLC (SAEV) is the corporate venturing subsidiary of Saudi Aramco, the world’s leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, SAEV’s mission is to invest globally in start-up and high growth companies with technologies of strategic importance to its parent company Aramco. Saev.com

About Energy Vault

Energy Vault is the creator of renewable energy storage products that are transforming the world’s approach to utility-scale energy storage for grid resiliency. Applying conventional physics fundamentals of gravity and potential energy, the system combines an innovative crane design that lifts specially designed, massive composite blocks with a proprietary, cloud-based software platform which orchestrates the storage and discharge of electricity. Utilizing 100 percent eco-friendly materials at unprecedented economics, Energy Vault is accelerating the shift to a fully renewable world.

For more information about Energy Vault, please visit energyvault.com and @EnergyVaultInc

View source version on businesswire.com: https://www.businesswire.com/news/home/20210602005350/en/

Energy Vault Media Contact:
Harry Alexander
[email protected]
+1.805.457.4382

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This article is part of a Gaming Insights series paid for by Facebook.

When it comes to games app advertising, the key to continued growth is user acquisition and audience expansion. But with such a vast and diverse audience, it can be tricky to know where to begin. Many games advertisers also face the challenge of finding new players among an already over-saturated market. Similarly, creative approaches might not be varied enough to motivate someone to download your game, while changes and disruptions within the advertising landscape can make personalization more difficult.

The answer? It’s time to tap into gamer motivations.

Over the past few years, many gaming companies have been targeting their advertising campaigns to the same group of audiences. It ends up slowing down their growth, as everybody is trying to grab this rather small group of gamers, so it gets harder to convert them. Expanding beyond this overfished pond becomes critical to gaming companies.

Your pool of players is changing

Gaming has become a mainstream culture, with more and more people playing. According to research, 86% of internet users now play mobile games, and 80% of self-described “non-gamers” actually play games on their phones. This signals a much larger pool of potential players that gaming companies can tap into.

Source: GlobalWebIndex Q3 2018 Base: 113,392 Internet Users Aged 16-64 

Furthermore, the COVID-19 pandemic drew millions more to gaming. We’ve seen an influx of new mobile gamers around the world as well as reengaged lapsed players, with many of them embracing gaming as a new outlet for much-needed connection and entertainment in isolation.

Source: “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 6,238 mobile gamers ages 18+ across DE, KR, UK, US, Jul/Oct 2020) 

And this audience is more diverse than ever, with 50% of recent and established mobile gamers in the U.S. identifying as female, 43% of established mobile gamers 45 or older, and 39% of recent adopters under the age of 34. All these new players create new opportunities for game growth, and new ways to evolve your digital advertising strategy and creative approach.

Source for all stats: online survey responses of 1,434 mobile gamers in US, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, KR, UK, US, VN Jul-Oct 2020) 

This diversity includes the reasons why people play as well as who is playing. Recent surveys have shown the reasons people play vary greatly, which is why it’s so important to understand their motivations, and we’re going to show you how to do just that.

Source: Online survey responses of 728 established mobile gamers in the US, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, KR, UK, US, VN Jul-Oct 2020) 

Introducing The Big Catch Playbook

In 2020, we collaborated with 16 global gaming advertisers to build an advertising creative framework called The Big Catch. We discovered that by experimenting with different ads based on player motivations, you can expand the pond in which you’re fishing for new players. This was effective in converting different players in 100% of our tests, and attracted and converted higher-value audiences(1). Big Catch digital ad creatives also had 26% higher Ads Quality Ranking than control creatives(2), meaning ads performed better in the auction and saw greater distribution at a reasonable cost.

The 4 steps to get started

We have identified eight player motivations, which we’ve explored in great detail in the free-to-download Big Catch Playbook. They are:

That’s not to say these are the only eight motivations, but they provide a solid starting point to begin examining your games, and how to use your ad creatives to attract players with different motivations.

Take Relaxation for example. This applies to players who just want to kill time, relax or calm down. 62% of established mobile gamers in the U.S. play to relieve stress(3). We’re talking about gameplays like puzzles, repetition, and zen mode. Some players are motivated by constantly making progress in the game, whether building or improving things, while some just love to connect and bond with friends.

This Merge Dragons ad below showcases relaxation by positioning its merging gameplay as a therapy — clean your land to clear your mind.

When it comes to escapism, we know that 30% of gamers in the U.S.(4), 30% in the U.K.(5) and 17%(6) in Korea play to immerse themselves in a character/world. Players who are motivated by escapism often seek distraction and relief from possibly a potentially unpleasant reality. Role-playing, fantasy, and alternate worlds all speak to this motivation. Look for the extraordinary in your game and show wild adventures and non-humanoid characters to appeal to players looking to escape.

As this ad creative for Happy Color demonstrates, upbeat music and scenes becoming washed with colour. Even leading with a positive reason to play the game “When days are darker, fill them with color.”

Discovery is also a powerful motivator for curious gamers, who play to learn something new. Creative that shows gameplay with big maps, multiple worlds, and hidden objects can spark a potential player’s interest. Consider showing side quests, enigmas, and escape rooms to instil the thrill of discovery.

This creative for Klondike shows how to pique their curiosity. After a brief intro, it shows sweeping landscapes, prompting the viewer to “Explore and discover many secrets and breathtaking adventures.”

This innovative new framework for games advertising will help you significantly expand your reach and impact. Gaming companies of any size can benefit from the Big Catch advertising approach. It’s an ongoing process of learning what works and why, and incorporating these learnings into your everyday advertising methods.

To get started, get our free-to-download, in-depth Big Catch Playbook to learn more about the eight player motivations, how to test and learn, and key considerations, as well as info on expert regional partners who can help you bring this to life if needed.

Sources

1. Source: Chi-squared test of 16 Gaming A/B tests
2. Source: Creative Shop analysis of ads quality score, new vs. BAU creatives, 18 gaming AB tests.
3. Source: Online survey responses of 728 established mobile gamers in the US, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, KR, UK, US, VN Jul-Oct 2020)
4. Source: Online survey responses of 728 established mobile gamers in US, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, JP, KR, UK, US, VN Jul–Oct 2020).
5. Source:  Online survey responses of 1166 established mobile gamers in GB, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, JP, KR, UK, US, VN Jul–Oct 2020).
6. Source: Online survey responses of 1318 established mobile gamers in KR, from “Mobile Gaming Behavior Post COVID-19” by Interpret (Facebook IQ-commissioned online survey of 13,246 mobile gamers ages 18+ across BR, CA, DE, FR, JP, KR, UK, US, VN Jul–Oct 2020).

Rodrigo Zannin is Creative Industry Lead, Creative Shop at Facebook

VB Lab Insights content is created in collaboration with a company that is either paying for the post or has a business relationship with VentureBeat, and they’re always clearly marked. Content produced by our editorial team is never influenced by advertisers or sponsors in any way. For more information, contact [email protected].