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 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.
ESS Tech, Inc. (NYSE: GWH) announced its Q4 and full-year results for 2021, revealing significant operational advancements despite supply chain challenges. The first Gen2 Energy Warehouse has been accepted and is operational. ESS has secured new contracts and clarified that 2022 shipment forecasts are fully booked. The company also expanded its Wilsonville facility by 54,000 square feet. A combination with ACON S2 Acquisition Corp. in October 2021 provided $251 million in cash, enhancing its financial position. ESS's sustainable energy solutions received notable industry awards.
ESS Tech, Inc. (NYSE:GWH) has appointed Claudia Gast to its Board of Directors, enhancing its leadership as the company expands operations globally. With over 15 years of experience in finance and mergers and acquisitions, Gast replaces Shirley Speakman, who is stepping down to focus on early-stage investments. Gast's roles include CFO of Global Technology Acquisition Corp. and co-founder of Greentrail Capital. CEO Eric Dresselhuys emphasized Gast's expertise in scaling companies and international growth, pivotal for ESS's mission in sustainable energy solutions.
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.