Welcome to our dedicated page for ESS Tech news (Ticker: GWH), a resource for investors and traders seeking the latest updates and insights on ESS Tech stock.
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.
Energy Storage Industries (ESI), based in Queensland, Australia, is advancing iron flow battery technology to boost the region's renewable energy capabilities. Key milestones include the completion of the first production batteries and recognition from government officials. ESI's batteries, with a 10-14 hour storage capacity and 25-year life cycle, are aimed at large-scale energy storage. The company is investing $70 million in a manufacturing plant in Maryborough, which is set to create up to 500 jobs by 2026. ESI's technology is backed by Munich Re, providing a 10-year performance guarantee for clients worldwide.
ESS Inc. (NYSE: GWH) announced the delivery of two Energy Warehouse systems to the Turlock Irrigation District as part of Project Nexus in Central California. This innovative project combines solar panels over irrigation canals with long-duration energy storage, aiming to produce clean energy and reduce water evaporation.
The initiative intends to showcase the potential of long-duration energy storage for reliable clean energy, while the project is funded by the State of California. Completion is projected for 2024, with ESS technology providing up to 12 hours of energy capacity and a 25-year design life without capacity fade.
ESS Tech, Inc. (NYSE: GWH) will hold a conference call on March 1, 2023, at 5:00 p.m. EST to discuss its fourth quarter and full year 2022 financial results, which will be announced post-market. Interested participants can join by calling (833) 927-1758 for U.S. or +1 (929) 526-1599 internationally with conference ID 710604. A replay is available until March 8, 2023. ESS focuses on long-duration energy storage solutions using sustainable materials, aiming to support global decarbonization.
ESS Inc. (NYSE:GWH) announces the delivery of its iron flow battery to Amsterdam Airport Schiphol, aimed at aiding the airport's sustainability goals. This pilot program will replace diesel generators with the Energy Warehouse to recharge Electric Ground Power Units, contributing to a 2030 goal of a zero-waste and emission-free airport. The selected technology is noted for its environmental safety, lacking fire or explosion risk. This partnership is part of the EU-funded TULIPS consortium, which seeks to advance sustainable technologies in aviation.
ESS Inc. (NYSE: GWH) has partnered with Consumers Energy (NYSE: CMS.PRB), Michigan's largest energy provider, to deploy a battery system for a solar and storage microgrid at a gas compression facility. This project marks the first use of an iron flow battery in such an application, showcasing the Energy Warehouse platform's capabilities for long-duration energy storage. The initiative supports Michigan's goal for 1,000 MW of storage by 2025, contributing to a sustainable energy future.
ESS Inc. (NYSE: GWH) has secured its first utility-scale battery storage project in partnership with Burbank Water and Power (BWP) in California. The project involves installing a 75 kW / 500kWh Energy Warehouse™ connected to a 265 kW solar array at the BWP EcoCampus. This initiative aims to enhance renewable energy use, supporting grid resilience and reliability. The battery technology, which boasts a 25-year lifespan and safe materials, will provide enough power for approximately 300 homes annually. Installation is expected by December 2023.
ESS Tech, Inc. (NYSE:GWH) announced its third-quarter 2022 financial results, highlighting revenue recognition advancements with $189,000 from an Energy Warehouse™ unit. The company has implemented a fully-automated manufacturing line, enhancing production capacity to over 750 MWh by year-end. A significant agreement with Sacramento Municipal Utility District for 2 GWh of long-duration storage over five years supports their 2030 Zero Carbon Plan. Anthony Rabb was appointed CFO, as ESS aims to capitalize on increasing demand following the Inflation Reduction Act.
ESS Tech, Inc. (NYSE:GWH) will hold a conference call on November 3, 2022 at 5:00 p.m. EDT to discuss its third quarter 2022 financial results, concluding on September 30, 2022. The financial results press release will be made available after market hours on the same day. Investors can join the call by dialing (833) 927-1758 for U.S. callers or +1 (929) 526-1599 for international participants, using conference ID 121282. A replay will be accessible until November 10, 2022. The call will also be webcast live on ESS’ Investor Relations website.
ESS Inc. (NYSE:GWH) has partnered with Citizens for Responsible Energy Solutions and the U.S. Energy Association to release a brief during National Clean Energy Week. The document emphasizes the pressing need for long-duration energy storage (LDES) to optimize renewable energy use and reduce carbon emissions effectively. It highlights curtailment data showing significant amounts of renewable energy wasted due to insufficient storage capabilities, particularly in California, where 1,500 GWh of energy was curtailed in 2021. The brief argues that deploying LDES is essential for a reliable, low-carbon energy system.
ESS Inc. (NYSE: GWH) has partnered with Sacramento Municipal Utility District (SMUD) to provide up to 200 MW / 2 GWh of long-duration energy storage solutions. This agreement supports SMUD's 2030 Zero Carbon Plan by integrating ESS’s Energy Warehouse™ and Energy Center™ systems into the grid, helping to reduce thermal generation and maximize solar energy. The collaboration includes building local jobs and creating a Center of Excellence for energy storage training, crucial for California’s decarbonization efforts. This initiative aims to remove 284,000 metric tons of CO2 annually.
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