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.
ESS Tech, Inc. (NYSE:GWH) will hold a conference call on February 24, 2022, at 5:00 p.m. EST to discuss its fourth quarter and full year 2021 financial results. The results will be disseminated after market close on the same date. Investors can participate by calling (844) 200-6205 in the U.S. or (646) 904-5544 internationally, entering conference ID 994302. A replay will be available until March 3, 2022. ESS manufactures long-duration iron flow batteries for energy storage, aimed at sustainable and cost-effective solutions for renewable energy infrastructure.
ESS Tech, Inc. (NYSE: GWH) has partnered with Portland General Electric (NYSE: POR) to test the ESS Energy Center™ platform in Wilsonville, Oregon. This 3 MWh Energy Center, set to launch in mid-2022, aims to demonstrate various use cases for energy storage, including frequency response and demand response. The platform, designed for utility-scale applications, distinguishes power from storage capacity, allowing for flexible energy solutions that can operate for up to 12 hours. This collaboration highlights the growing demand for long-duration energy storage technology.
ESS Tech, Inc. (NYSE: GWH) announced its iron flow batteries are set to aid in a microgrid project by San Diego Gas & Electric (SDG&E) in Cameron Corners, California.
This innovative project aims to enhance community resilience during emergencies and will integrate with a large solar array, providing a zero-emissions energy solution. The deployment of six Energy Warehouse™ systems will yield up to 3 megawatt-hours of energy storage. The project is scheduled to launch in Q1 2022, allowing for energy sales in California’s wholesale market while ensuring reliability for critical services.
ESS Tech, Inc. (NYSE:GWH) has completed the restatement of legacy financial filings from Acon S2 Acquisition Corp. to comply with regulatory requirements. The restatement involved reclassifying Class A shares from equity to mezzanine equity, a matter preceding the merger with ACON. CFO Amir Moftakhar confirmed that this adjustment did not affect ESS's current operations or financial statements. The company specializes in long-duration batteries for commercial and utility-scale energy storage, emphasizing sustainable and cost-effective solutions for renewable energy infrastructure.
ESS, Inc. (NYSE:GWH), a U.S. manufacturer of long-duration batteries, announced its contribution to the Long-Duration Energy Storage (LDES) Council’s report aimed at achieving carbon net-zero power systems. The report indicates that deploying 85-140 TWh of LDES globally by 2040 could eliminate 1.5-2.3 Gt of CO2 emissions, requiring an investment of $1.5-$3 trillion. It highlights LDES's potential to balance renewable energy and address grid energy imbalances, which currently contribute 10-15% of total emissions. The report also notes a growing momentum in LDES investments, totaling $3 billion over the past five years.
ESS. Inc. (NYSE:GWH) has been awarded the 2021 North American Technology Innovation Leadership Award by Frost & Sullivan for its eco-friendly iron flow battery technology. This technology enables long-duration energy storage, discharging for up to 12 hours, and has an operational lifespan exceeding 20 years. The company’s batteries boast minimal capacity fade and are made from safe, recyclable materials. With a levelized cost of storage between $0.05 to $0.06 per kWh, ESS's solution offers significant cost advantages over conventional batteries and supports the deployment of renewable energy.
ESS Tech Inc. (NYSE:GWH) reported strong third-quarter results for 2021, marking significant milestones after its recent public listing. Highlights include securing an additional 45,000 sq/ft of manufacturing space and identifying over $8 billion in global opportunities. The company’s backlog remains robust, with over 72% of customers in the pipeline classified as booked or awarded. ESS completed a business combination with ACON S2 Acquisition Corp, resulting in $246 million of cash. Key contracts include partnerships with TerraSol Energies and Enel Green Power, further establishing ESS’s position in long-duration energy storage.
ESS Tech, Inc. (NYSE:GWH) announced the appointment of Alexi Wellman to its Board of Directors, effective October 12, 2021. Wellman, who will serve as Chair of the Board Audit Committee, has extensive experience in financial management, having previously served as CFO of Altaba, Inc. and held key financial roles at Yahoo and Nebraska Book Company. Her expertise is poised to support ESS's growth and production scaling, particularly in advancing environmentally sustainable energy storage solutions.
ESS Inc. (NYSE:GWH) announced that CEO Eric Dresselhuys will present at the 2021 Milken Institute Global Conference on October 19, 2021, at 2:00 PM PT. The panel, titled “Energy and Commodity Markets: Structural Bull or Earthbound?”, will discuss significant energy market changes and the impact of the climate crisis on decarbonization efforts. This year’s conference theme is “Charting a New Course,” focusing on leveraging recent disruptions for a sustainable future. For more information, visit milkeninstitute.org.
FAQ
What is the current stock price of ESS Tech (GWH)?
What is the market cap of ESS Tech (GWH)?
What does ESS Tech, Inc. specialize in?
How do ESS Tech's batteries benefit electricity consumers?
What materials are used in ESS Tech’s batteries?
What recent achievements has ESS Tech, Inc. accomplished?
Why are ESS Tech’s batteries important for utilities?
How does ESS Tech contribute to sustainability?
What is the financial outlook for ESS Tech, Inc.?
Who can benefit from ESS Tech’s storage solutions?
What makes ESS Tech's battery technology unique?