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ESS Tech, Inc. (symbol: GWH) is a leading innovator in the field of energy storage, specializing in the development of long-duration iron flow batteries. The company's groundbreaking technology leverages inexpensive and abundant electrolyte materials, paired with a next-generation cell design, to deliver cost-effective and reliable energy storage solutions for commercial, industrial, and utility applications.
ESS Tech's batteries are designed to integrate seamlessly with the modern electric grid, providing consumers with an efficient means to lower electricity costs and offering utilities a versatile option for incorporating renewable energy sources. This technology not only enhances grid stability but also promotes the use of sustainable energy, aligning with global efforts to combat climate change.
Recent achievements include successful pilot projects and partnerships with key industry players, demonstrating the practical viability and benefits of their systems in real-world applications. ESS Tech continues to focus on expanding its market presence and enhancing its product offerings to meet the growing demand for long-duration energy storage solutions.
Financially, ESS Tech has shown steady growth, supported by a strong commitment to innovation and strategic collaborations. The company's robust financial health underscores its potential for continued expansion and leadership in the energy storage sector.
With a dedicated team of experts and a clear vision for the future, ESS Tech, Inc. is well-positioned to drive significant advancements in energy storage technology, supporting a more reliable and sustainable power grid for all.
ESS Tech (NYSE: GWH), a long-duration energy storage systems manufacturer, reported Q3 2024 results highlighting operational progress despite revenue challenges. The company projects $9-11 million in revenue for the year. ESS has secured the first $20 million tranche from EXIM Bank as part of a $50 million funding package. The company has installed and is testing its second Energy Center for Portland General Electric, with commercial shipments expected in Q4 2024. A recent 1-for-15 reverse stock split has brought the company back into NYSE compliance.
ESS Inc. (NYSE:GWH), a leading manufacturer of long-duration energy storage systems, has announced its upcoming third quarter 2024 financial results conference call. The call is scheduled for Wednesday, November 13, 2024, at 5:00 p.m. EST. The company will release its financial results for the quarter ended September 30, 2024, after the market closes on the same day.
Interested parties can join the conference call via telephone or listen to the live webcast on ESS' Investor Relations website. For U.S. callers, the dial-in number is (833) 470-1428, while international callers should use +1 (404) 975-4839 with conference ID 385282. A telephone replay will be available until November 20, 2024, and a webcast replay will also be accessible on the company's website.
ESS Tech, Inc. (NYSE: GWH) announced that its Australian partner, Energy Storage Industries – Asia Pacific (ESI), has secured AU$65 million in funding to accelerate iron flow battery deployments in Australia and Oceania. This includes AU$25 million from the Queensland Government and AU$40 million in private capital.
ESI will use the investment to continue constructing a manufacturing facility in Maryborough, Queensland, where it will assemble long-duration iron flow battery systems using core components manufactured by ESS in the United States. ESI aims to achieve an annual production capacity of 400MW by 2029 using ESS technology.
The demand for ESS' technology is growing in Australia, with systems already deployed at Queensland University of Technology and Stanwell Energy Queensland has also committed to purchasing AU$12 million of iron flow systems for initial projects on their distribution grid.
ESS Tech, Inc. (NYSE: GWH), a leading manufacturer of long-duration energy storage systems, announced its Q2 2024 financial results. Key highlights include:
1. Finalizing a $50 million funding agreement with the Export-Import Bank of the United States
2. Started production of the second Energy Center for Portland General Electric
3. Deployed the first operational long-duration energy storage at Schiphol Airport
4. Ended Q2 with over $74 million in cash and short-term investments, expected to last well into 2025
5. Received a $10 million grant from the California Energy Commission for a project with Sacramento Municipal Utility District
6. Began building the second Energy Center in July
7. Plans to start commercial Energy Center shipments in H2 2024
ESS Tech, Inc. (NYSE: GWH), a leading manufacturer of long-duration energy storage systems, celebrated a $50 million manufacturing expansion at its Oregon headquarters. The expansion is funded by the U.S. Export-Import Bank's Make More in America Initiative, making ESS the first energy storage manufacturer to receive this support.
The funding will be used to triple ESS' annual iron flow battery manufacturing capacity. ESS serves a global customer base with projects in the U.S., Europe, Australia, and Africa. The expansion aligns with projections that the world will need up to 140 TWh of long-duration energy storage by 2040 to achieve decarbonization targets.
The event was attended by Senator Ron Wyden (D-OR), EXIM Vice Chair Judith Pryor, and EXIM Board Member Owen Herrnstadt. This expansion is expected to support American jobs, strengthen domestic supply chains, and deploy U.S. technology in the fight against climate change.
ESS Inc. (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES), has announced its upcoming second quarter 2024 financial results conference call. The call is scheduled for Wednesday, August 14, 2024, at 5:00 p.m. EDT. The company will release its Q2 2024 financial results after market close on the same day. Interested parties can join the call via telephone or listen to the live webcast on ESS' Investor Relations website. A replay of the call will be available until August 21, 2024, via telephone and on the company's website.
ESS, a leader in long-duration energy storage, will expand its manufacturing capacity in Wilsonville, Oregon, backed by a $50 million financing package from the Export-Import Bank of the United States (EXIM). This funding, part of the Make More in America Initiative, aims to meet the surging global demand for ESS's iron flow energy storage systems and enhance cost efficiencies. ESS's technology, already in use in Europe, Australia, and Africa, supports the global transition to clean energy. The expansion will triple the annual production capacity and is expected to deliver significant economic benefits locally and nationwide. ESS's commitment to U.S.-made products maximizes the initiative's job-creation potential.
ESS Tech, known for its long-duration energy storage (LDES) solutions, is partnering with Indian Energy and the California Energy Commission (CEC) to demonstrate utility-scale resilient microgrids at Marine Corps Air Station Miramar. This initiative, funded by a $4.85M CEC grant, aims to integrate ESS’s non-lithium iron flow batteries into microgrids, enhancing energy resilience and affordability for Native American Tribes and the Department of Defense. Over the next six months, the project will explore optimal use cases in California's energy market, such as solar peak shifting and grid ancillary services. This collaboration supports California’s goal of 100% zero-emission electricity by 2045, with LDES resources projected to grow up to 37 GW. ESS's technology is already operational in various California locations, including Sacramento Municipal Utility District and Burbank Water and Power.
ESS Tech's Energy Center, a long-duration energy storage (LDES) system, has won the Smarter E Award for Energy Storage Technologies. This award, judged by industry experts, was presented to ESS on June 18, 2024, at Intersolar Europe in Munich. The Energy Center offers over eight hours of energy storage with a modular design, contributing to global decarbonization efforts. CEO Eric Dresselhuys highlighted its role in renewable energy baseload and grid management. Certifications include UL1973, UL 9540, and IEEE 693 – High. The initial Energy Center is being tested in Oregon and will be delivered to Portland General Electric later this year.
ESS Tech and Burbank Water & Power (BWP) have commissioned the first iron flow battery system on the BWP EcoCampus. This ESS Energy Warehouse™ system is integrated with a 265 kW solar array and aims to support BWP's goal of achieving 100% carbon-free power by 2040. The installed system, able to deliver 75 kW/500 kWh, will power around 300 homes upon full operation. Local officials celebrated the installation, emphasizing the significance of long-duration energy storage (LDES) technology in future renewable grids. The California Energy Storage Alliance highlights the need for 13,571 MW of LDES by 2028 to meet the state's zero-emission electricity goal by 2045.
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