ESS Celebrates $50M Manufacturing Expansion at Oregon Headquarters Funded by U.S. Export-Import Bank’s Make More in America Initiative
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 Tech, Inc. (NYSE: GWH), un importante produttore di sistemi di stoccaggio energetico a lungo termine, ha celebrato un'espansione della produzione del valore di 50 milioni di dollari presso la sua sede in Oregon. L'espansione è finanziata dall'iniziativa Make More in America della U.S. Export-Import Bank, rendendo ESS il primo produttore di stoccaggio energetico a ricevere questo supporto.
Il finanziamento sarà utilizzato per triplicare la capacità produttiva annuale delle batterie a flusso di ferro di ESS. ESS serve una clientela globale con progetti negli Stati Uniti, in Europa, in Australia e in Africa. L'espansione è in linea con le previsioni che indicano che il mondo avrà bisogno di fino a 140 TWh di stoccaggio energetico a lungo termine entro il 2040 per raggiungere gli obiettivi di decarbonizzazione.
L'evento è stato preso parte dal senatore Ron Wyden (D-OR), dalla vicepresidente dell'EXIM Judith Pryor e dal membro del consiglio dell'EXIM Owen Herrnstadt. Questa espansione dovrebbe supportare i posti di lavoro americani, rafforzare le catene di approvvigionamento nazionali e promuovere la tecnologia statunitense nella lotta contro il cambiamento climatico.
ESS Tech, Inc. (NYSE: GWH), un fabricante líder de sistemas de almacenamiento de energía de larga duración, celebró una expansión de fabricación de 50 millones de dólares en su sede en Oregón. La expansión está financiada por la iniciativa Make More in America del U.S. Export-Import Bank, convirtiendo a ESS en el primer fabricante de almacenamiento de energía en recibir este apoyo.
El financiamiento se utilizará para triplicar la capacidad de fabricación anual de baterías de flujo de hierro de ESS. ESS sirve a una base de clientes global con proyectos en EE. UU., Europa, Australia y África. La expansión está en línea con las proyecciones que indican que el mundo necesitará hasta 140 TWh de almacenamiento de energía de larga duración para 2040 para alcanzar los objetivos de descarbonización.
Al evento asistieron el senador Ron Wyden (D-OR), la vicepresidenta de EXIM Judith Pryor y el miembro de la junta de EXIM Owen Herrnstadt. Se espera que esta expansión apoye los empleos estadounidenses, fortalezca las cadenas de suministro nacionales y despliegue la tecnología de EE. UU. en la lucha contra el cambio climático.
ESS Tech, Inc. (NYSE: GWH), 장기 에너지 저장 시스템의 선도적인 제조업체는 오리건 본사에서 5천만 달러 규모의 제조 확장을 기념했습니다. 이 확장은 미국 수출입은행의 'Make More in America' 이니셔티브에 의해 자금이 지원되며, ESS는 이 지원을 받는 첫 번째 에너지 저장 제조업체입니다.
이 자금은 ESS의 연간 철 흐름 배터리 제조 용량을 세 배로 늘리는 데 사용될 것입니다. ESS는 미국, 유럽, 호주, 아프리카에서 프로젝트를 진행하며 전 세계 고객을 대상으로 서비스합니다. 이 확장은 세계가 2040년까지 탈탄소 목표를 달성하기 위해 최대 140TWh의 장기 에너지 저장이 필요하다는 전망과 일치합니다.
이 행사에는 론 와이든 상원 의원(D-OR), EXIM 부회장 주디스 프라이어, EXIM 이사 오웬 헌스트라트가 참석했습니다. 이번 확장은 미국 일자리를 지원하고, 국내 공급망을 강화하며, 기후 변화와의 전투에서 미국 기술을 배포할 것으로 예상됩니다.
ESS Tech, Inc. (NYSE: GWH), un fabricant leader de systèmes de stockage d'énergie à long terme, a célébré une expansion de fabrication de 50 millions de dollars dans son siège de l'Oregon. L'expansion est financée par l'initiative Make More in America de la Banque d'Export-Import des États-Unis, faisant d'ESS le premier fabricant de stockage d'énergie à recevoir ce soutien.
Le financement sera utilisé pour tripler la capacité de production annuelle des batteries à flux de fer d'ESS. ESS dessert une clientèle mondiale avec des projets aux États-Unis, en Europe, en Australie et en Afrique. L'expansion est en adéquation avec les prévisions indiquant que le monde aura besoin de jusqu'à 140 TWh de stockage d'énergie à long terme d'ici 2040 pour atteindre les objectifs de décarbonisation.
L'événement a été marqué par la présence du sénateur Ron Wyden (D-OR), de la vice-présidente de l'EXIM Judith Pryor, et du membre du conseil de l'EXIM Owen Herrnstadt. Cette expansion devrait soutenir les emplois américains, renforcer les chaînes d'approvisionnement nationales et déployer la technologie américaine dans la lutte contre le changement climatique.
ESS Tech, Inc. (NYSE: GWH), ein führender Hersteller von Energiespeichersystemen für lange Laufzeiten, feierte eine Fertigungserweiterung in Höhe von 50 Millionen Dollar an seinem Standort in Oregon. Die Erweiterung wird durch die Initiative Make More in America der U.S. Export-Import Bank finanziert und macht ESS zum ersten Hersteller von Energiespeichern, der diese Unterstützung erhält.
Die Finanzierung wird verwendet, um drei Mal die jährliche Herstellungskapazität der Eisen-Flussbatterien von ESS zu erhöhen. ESS bedient eine globale Kundenbasis mit Projekten in den USA, Europa, Australien und Afrika. Die Erweiterung steht im Einklang mit den Prognosen, die besagen, dass die Welt bis zum Jahr 2040 bis zu 140 TWh an langfristigem Energiespeicher benötigen wird, um die Dekarbonisierungsziele zu erreichen.
Zu der Veranstaltung waren Senator Ron Wyden (D-OR), EXIM-Vizepräsidentin Judith Pryor und EXIM-Vorstandsmitglied Owen Herrnstadt anwesend. Diese Erweiterung wird voraussichtlich amerikanische Arbeitsplätze unterstützen, die heimischen Lieferketten stärken und die US-Technologie im Kampf gegen den Klimawandel einsetzen.
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Senator Ron Wyden (D-OR), EXIM Vice Chair Judith Pryor and EXIM Board Member Owen Herrnstadt joined ESS in celebration of the planned tripling of ESS’ annual iron flow battery manufacturing capacity
ESS is joined by Senator Ron Wyden (D-OR), EXIM leadership, partners and local officials to cut the ribbon on the company's new manufacturing line. (Photo: Business Wire)
ESS will use the proceeds from the deal to expand production of the company’s proprietary iron flow battery (IFB) modules. The company’s first fully automated IFB module line was commissioned last year and the planned expansion will leverage this proven design to quickly and cost effectively add capacity. ESS serves a global customer base with projects announced or underway in the
EXIM’s Make More in America Initiative (MMIA) finances export-oriented domestic manufacturing projects to support American exports and American jobs. MMIA supports environmentally beneficial projects, small businesses, and transformational export transactions in areas including semiconductors, biotech and biomedical products, renewable energy, and energy storage while supporting domestic jobs.
“EXIM’s Make More in America initiative aims to support American jobs and
“Make More in America enables EXIM to support
“Today is definitely a blue-ribbon day for jobs in
“EXIM’s Make More in America initiative is perfectly suited to meet the needs of growing American manufacturers. Long-term financing, at very attractive rates, provides exactly the non-dilutive capital that companies like ESS need to achieve scale and meet global demand for clean energy technologies,” said ESS CEO Eric Dresselhuys. “There is broad bipartisan agreement that manufacturing more critical technology in America is a high priority. We look forward to working with EXIM and other stakeholders to build and deliver the energy storage solutions that will drive global decarbonization.”
Recently, ESS announced a partnership, financed in part by EXIM, with Nigerian energy company Sapele Power, representing one of the first long-duration energy storage projects in
About ESS
ESS Inc. (NYSE: GWH) is the leading manufacturer of long-duration iron flow energy storage solutions. ESS was established in 2011 with a mission to accelerate decarbonization safely and sustainably through longer lasting energy storage. Using easy-to-source iron, salt, and water, ESS iron flow technology enables energy security, reliability and resilience. We build flexible storage solutions that allow our customers to meet increasing energy demand without power disruptions and maximize the value potential of excess energy. For more information visit www.essinc.com.
Forward-Looking Statements
This communication contains certain forward-looking statements regarding ESS and its management team’s expectations, hopes, beliefs, or intentions regarding the future. The words “estimate”, “expect”, “will” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the status of ESS manufacturing, products and technology and customer relationships and product deployments. These forward-looking statements are based on ESS’ current expectations and beliefs concerning future developments. Many factors could cause actual future events to differ materially from such expectations, including, but not limited to, disruptions, or quality control problems in the Company’s manufacturing operations; as well as those risks and uncertainties set forth in the section entitled “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on May 8, 2024, and its other filings filed with the SEC. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240807994725/en/
Investors:
Erik Bylin
Investors@essinc.com
Media:
Morgan Pitts
503.568.0755
morgan.pitts@essinc.com
Source: ESS, Inc.
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