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. (NYSE: GWH) regularly issues news and updates about its long-duration iron flow energy storage systems and corporate developments. As a manufacturer focused on commercial- and utility-scale applications, ESS uses press releases to report on project announcements, technical milestones, leadership changes and financing activities that shape its business trajectory.
Company news often highlights project wins and pilot deployments. For example, ESS has announced a 50 MWh Energy Base pilot project with Salt River Project in Arizona and an 8 MWh Energy Base order aligned with its 10+ hour product focus. These announcements illustrate how its iron flow technology is being applied in real-world grid and utility contexts.
ESS also publishes financial results and capital transactions through quarterly earnings releases and related communications. Recent updates have covered second and third quarter financial results, insider-led funding measures totaling tens of millions of dollars, a promissory note with an investment fund managed by Yorkville Advisors Global, and the launch of a $75 million at-the-market equity program under a Sales Agreement with multiple agents.
Another key theme in ESS news is technical and operational progress. The company has reported achieving 12.2 hours of duration at rated power and 17.8 hours at reduced power for its technology, along with improvements in round-trip efficiency and material costs. It has also discussed a strategic reset focused on the Energy Base platform, operational efficiency and reduced cash requirements.
Leadership updates appear in ESS news as well, including the appointment of a new Chief Executive Officer, Chief Strategy Officer and General Counsel, Chief Financial Officer and Chief Operating Officer. Investors and observers can follow this news feed to see how ESS is executing its strategy in long-duration energy storage, advancing projects, and managing its capital structure over time.
ESS Inc. (NYSE:GWH) has announced the appointment of Vince Canino as Chief Operating Officer, strengthening its leadership team amid global expansion efforts. Canino brings extensive experience from his previous role as CEO of Smardt Chiller Group, where he oversaw significant growth and product expansion. Concurrently, Chief Accounting Officer Jeff Bodner will resign to pursue other opportunities but will assist with the transition until mid-September. The changes reflect ESS's commitment to enhancing operational performance as it aims to decarbonize the energy system with sustainable storage solutions.
ESS, a leader in long-duration energy storage, has inaugurated a solar and storage microgrid project in West Grove, Pennsylvania, in partnership with TerraSol Energies and Sycamore International. This microgrid integrates a 115 kW solar array with the ESS Energy Warehouse™ to minimize peak electricity demand and ensure operational backup for Sycamore International's recycling facility. The project aims to support decarbonization and enhance energy reliability, aligning with recent energy provisions in the Inflation Reduction Act.
ESS Inc. (NYSE: GWH) has entered a strategic partnership with Energy Storage Industries Asia Pacific to manufacture and distribute iron flow batteries in Australia, New Zealand, and Oceania. ESS will supply 70 Energy Warehouse systems in 2022 and 2023, while ESI will build a local manufacturing facility in Queensland expected to achieve 400 MW annual capacity. This agreement aims to address the increasing demand for long-duration energy storage, supporting the transition to a sustainable energy future.
ESS Tech, Inc. (NYSE:GWH) reported revenue recognition of $686,000 for the second quarter of 2022, marking significant progress in its operations. The company has secured a partnership with Energy Storage Industries Asia Pacific, which has ordered over 70 Energy Warehouses™. Additionally, ESS signed a contract with Tampa Electric Company for an Energy Center™ to support solar projects. Despite operational achievements, supply chain challenges may affect the planned delivery of 40 to 50 Energy Warehouses™ this year. The second manufacturing line is now operational, increasing annual capacity to 500 MWh.
ESS Inc. (NYSE: GWH) hosted U.S. Department of Energy Secretary Jennifer Granholm and other officials at its Wilsonville, Oregon facility, emphasizing its role in clean energy and job creation. The company manufactures long-duration iron flow batteries, supporting the transition to a decarbonized energy system. Employing 235 individuals, ESS's technology utilizes non-toxic, domestically sourced materials, providing sustainable energy storage solutions. With battery capabilities of up to 12 hours, ESS aims to enhance grid reliability as renewable sources increase.
ESS Tech, Inc. (NYSE:GWH) will hold a conference call on August 11, 2022 at 5:00 p.m. EDT to discuss its financial results for the second quarter of 2022, which ended on June 30, 2022. The financial results release will occur after market close on the same day. Interested parties can access the call by dialing (844) 200-6205 in the U.S. or +1 (929) 526-1599 internationally, with a conference ID of 179422. A replay will be available until August 18, 2022.
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ESS Tech, Inc. (NYSE:GWH) reported its Q1 2022 financial results, highlighting operational progress despite supply chain challenges. The company aims to deliver 40-50 Energy Warehouses this year and has enhanced manufacturing capacity with a second semi-automated line. Although unanticipated issues limited revenue recognition, ESS remains focused on cost management and production output. The recent expansion into the European market, set to commence in the second half of 2022, is anticipated to boost customer adoption of its long-duration energy storage solutions.
ESS Tech, Inc (NYSE:GWH) announced it will host a conference call on May 12, 2022, at 5:00 p.m. EDT, to discuss its Q1 2022 financial results for the period ending March 31, 2022. The press release detailing these results will be shared after market close on the same day. Interested parties can participate via phone or listen to the live webcast on the company's Investor Relations website.
ESS Tech, Inc. (NYSE: GWH) is expanding operations into Europe to meet increasing demand for its long-duration energy storage (LDES) solutions. The deployment of iron-flow batteries is set to begin in H2 2022, responding to Europe’s projected need for up to 20 TWh of energy storage to achieve grid net-zero by 2040. The company has appointed Alan Greenshields as Director of Europe to spearhead this initiative. ESS has already secured orders from ENEL in Spain for 17 battery systems with a total capacity of 8.5 MWh.