[WeTheMarket]

ESS CEO, Eric Dresselhuys COP28 Linkedin post.
https://www.linkedin.com/posts/ericdresselhuys_cop28-renewable-longdurationenergystorage-activity-7136957972995330048-ti6i/

[WeTheMarket]

Bill Gates' Linkedin post.
https://www.linkedin.com/posts/williamhgates_honeywell-invests-in-ess-to-advance-adoption-activity-7129137752922624000-wKas

[WeTheMarket]

ESS Tech, Inc. Announces Third Quarter 2023 Financial Results
November 07 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/92489796/ess-tech-inc-announces-third-quarter-2023-financ

Announced Strategic Partnership with Honeywell

ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE: GWH), a leading manufacturer of long-duration energy storage systems for commercial and utility-scale applications, today announced financial results for its third quarter ended September 30, 2023.

“In the third quarter, ESS again made significant progress executing on improving our internal operations, commissioning units at existing customer sites, strengthening our balance sheet, and broadening customer traction. This progress with our customers and operations is reflected in our year to date revenue of $4.7 million, which is an increase of nearly 700% from last year. I’m also pleased to share that we successfully completed commissioning of a number of Energy Warehouses, including the six we delivered to Sacramento Municipal Utility District last quarter,” said Eric Dresselhuys, CEO of ESS.

“Worldwide demand for reliable, safe, energy storage technology is growing rapidly and is reflected in the solid customer demand we’re seeing in the market. We continue to expect a material increase in revenue in the fourth quarter, which should lead to $9 million in revenue for the full year. Furthermore, our transformative partnership with Honeywell serves as a tremendous validation of the unique value proposition of our iron flow battery and our position in the market. The collaboration between ESS and Honeywell will not only strengthen our technology, operations and go-to-market, but the cash infusion from Honeywell also bolsters our balance sheet and extends our cash runway well into 2025. In addition, we’re well underway in building our first Energy Center with Portland General Electric and expect it to be operational this year, which should translate to shipping commercial units in the second half of 2024. Combined, these drivers in our business positions ESS for long-term growth and profitability expansion.”

Recent Business Highlights

- In September 2023, ESS entered into a strategic collaboration with Honeywell to advance technology development and market adoption of iron flow battery energy storage systems. Honeywell has made an investment in ESS as part of this collaboration, adding $42.5 million to our balance sheet, and will incorporate ESS technology in their clean energy go-to-market efforts, with an initial target to purchase $300 million of ESS product in the coming years. ESS will also integrate Honeywell’s flow-battery IP with its own extensive IP portfolio.

- ESS is finalizing its agreement with LEAG, a major German energy provider, for the first phase of their multi-year project targeting commissioning in 2027 to build a 500 MWh iron flow battery system at the LEAG Boxberg Power Plant site in Germany. This installation, when complete, will create a repeatable building block to support LEAG’s objective to create up to 20 GWh of storage to be paired with solar and local hydrogen production, creating the largest green-energy hub in Europe.

- In Q3, ESS completed commissioning of six Energy Warehouse™ systems that were delivered to the Sacramento Municipal Utility District (SMUD) last quarter for the first phase of our relationship to support SMUD’s 2030 Zero Carbon Plan. As previously announced, ESS has agreed to supply up to 2 GWh of long-duration energy storage over the next four years in the form of Energy Warehouses™ and Energy Centers™. As part of this multi-year agreement, ESS also intends to set up facilities for battery system assembly, operations and maintenance support and project delivery in Sacramento, creating local, high-paying jobs. In addition, ESS and SMUD plan to team up with local colleges and universities to establish a Center of Excellence to expand and train the workforce that will be needed to support long-duration energy storage technology.

- In September 2023, ESS was awarded an Export Achievement Certificate by the United States Department of Commerce for expanding global deployment of its American-made, innovative long-duration energy storage technology. The Export Achievement Certificate is presented by the U.S. Department of Commerce to American companies making significant contributions to exports. Exports of ESS’ iron flow battery systems have increased significantly over the past year as global demand for long-duration energy storage continues to grow.

- In August 2023, Stanwell Corporation, a major electricity generator owned by the Queensland government, and Energy Storage Industries Asia Pacific (ESI), our Australian partner, unveiled an initial iron flow battery energy storage system pilot project at the Stanwell Power Station. Subsequently, in October, the Premier of Queensland announced that the state government plans to expand this project to a 150 MW installation and Stanwell has taken an option to purchase up to 200 MW of storage per year thereafter.

- On August 17, 2023, Jeff Loebbaka was named Chief Commercial Officer of ESS.
On August 29, 2023, ESS announced the appointment of Harry Quarls to its Board of Directors as Chairman. Michael Niggli, the ESS Founding Board Chairman, will remain on the board to assist with this transition. Harry Quarls has over four decades of energy experience and brings considerable strategic, financial, transactional, and energy investing experience to ESS.

Conference Call Details

ESS will hold a webcast conference call on Tuesday, November 7, 2023 at 5:00 p.m. EST to discuss financial results for its third quarter 2023 ended September 30, 2023. Interested parties may join the conference call beginning at 5:00 p.m. EST on Tuesday, November 7, 2023 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 307911. A telephone replay will be available until November 14, 2023, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 679393. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the call will be available via the web at http://investors.essinc.com/.

About ESS, Inc.

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

Energy Warehouses and Energy Centers are trademarks of ESS Tech, Inc. Any third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between ESS and the third party unless expressly stated

[StockLogistics]

US switch to ESS iron based energy storage for all households, EV applications possible, company may need to be nationalized as a utility down the road like Google imo

[richme]

Very close; only 5 cts to go! Interesting in the s/p is over 2.10 by the end of next week or is it the end of this week?

[govprs]

Me too. I have 4500 shares. We are close to $2. Let’s go!

[richme]

I agree. I have 8000 shares but will be loading small increments along the way to the end of the year.
I took some big hits on dumb buys.

[govprs]

This one requires a lot of patience. Has a chance to see 10 in 2024. Imo

[richme]

With Honeywell collaboration, it would go higher than $2? We will see as the regular hours trading starts. We are not far from there now.

[govprs]

Huge news. Pps heading over $2 very soon

Hope the shorts get squashed

[WeTheMarket]

Honeywell and ESS Tech, Inc. Collaborate to Accelerate Commercial Deployment of Iron Flow Battery Energy Storage Systems
September 25 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/92115190/honeywell-and-ess-tech-inc-collaborate-to-accele

Honeywell (Nasdaq: HON) today announced a strategic collaboration with ESS Tech, Inc. (ESS) (NYSE: GWH) to advance technology development and market adoption of iron flow battery (IFB) energy storage systems. Honeywell has made an investment in ESS as part of this collaboration.

The relationship builds upon each company’s development of energy storage systems, and brings together ESS’ market-leading, patented IFB design with Honeywell’s advanced materials and energy systems expertise.

“The demand for long-duration energy storage represents a compelling market opportunity within the energy transition and the combination of Honeywell and ESS technology can accelerate decarbonization for the commercial, industrial and utility sectors,” said Bryan Glover, chief growth officer, Honeywell Performance Materials and Technology (PMT) group. “Our strategic collaboration with ESS will accelerate Honeywell’s ability to bring comprehensive solutions to our customers while working to advance long-duration energy storage across all industries requiring expansive energy storage.”

“Today, we are creating superior technology in the critical long-duration energy storage industry,” said Eric Dresselhuys, CEO of ESS. “Combining ESS’ innovative technology and deployment experience with Honeywell’s storage and control system expertise will enable us to drive the clean energy transition and deliver value to our customers, shareholders and communities.”

Honeywell and ESS are working together to meet growing global demand for long-duration energy storage (LDES), driven by the rapid increase in renewable power generation. This is creating a substantial and fast-growing market as countries worldwide transition to zero carbon energy. The current global energy storage market is estimated to be $50 billion per year and is forecast to grow significantly with a cumulative investment of up to $3 trillion by 2040, according to the LDES Council and McKinsey & Co.

As the shift to renewable energy accelerates, challenges associated with the intermittency of wind and solar energy are becoming more apparent. Safe and sustainable IFB technology enables the transition to clean energy using Earth-abundant materials – iron, salt and water – to provide energy storage without reliance upon limited minerals such as lithium, cobalt or vanadium.

Conference Call Details

ESS will hold a webcast conference call on Monday, September 25, 2023 at 9:00 a.m. EDT to discuss the partnership with Honeywell. Interested parties may join the conference call beginning at 8:45 a.m. EDT on Monday, September 25, 2023 via telephone by calling 888-272-2741 in the U.S., or for international callers, by calling [phone]. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the webcast can be accessed at http://investors.essinc.com/.

About ESS Inc.:

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities, and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining, and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

About Honeywell:

Honeywell (www.honeywell.com) is a technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit Honeywell | Newsroom

[WeTheMarket]

Jeff Loebbaka Joins ESS as Chief Commercial Officer to Drive Growth and Maximize Customer Value
August 17 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/91843949/jeff-loebbaka-joins-ess-as-chief-commercial-office

Expanded leadership team will grow ESS presence in global energy storage markets to catalyze the clean energy future

ESS Tech, Inc. (“ESS”) (NYSE: GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced the expansion of its executive leadership team.

Jeff Loebbaka has been named Chief Commercial Officer, adding significant depth to ESS leadership as the company continues to grow its global footprint and deliver long-duration energy storage solutions to customers worldwide.

“Jeff brings a wealth of experience growing emerging clean technology companies into global enterprises,” said Eric Dresselhuys, CEO of ESS. “His strategic vision will expand ESS’ capabilities to deliver long-duration energy storage solutions to global markets and catalyze the clean energy future.”

Loebbaka has held a number of executive leadership positions in technology and clean energy companies including AMP Robotics, Spruce Financial and Enphase Energy. He holds a B.S. in mechanical engineering from the University of Illinois Urbana-Champaign and an M.B.A. from the Kellogg School at Northwestern University.

“It is now clear that long-duration energy storage is foundational to a decarbonized energy system. ESS has the right technology and right team to meet skyrocketing demand for this critical solution,” said Loebbaka. “I am excited to join ESS during this period of growth and to enable the business to scale rapidly as I have throughout my career with companies at the forefront of the clean energy transition.”

About ESS

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining, and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230817013241/en/

Investors:
Erik Bylin
[e-mail]

Media:
Morgan Pitts
503.568.0755
[e-mail]

[WeTheMarket]

Iron flow battery player ESS Inc improves revenue position, says IP safe for ‘years to come’
By Andy Colthorpe
August 9, 2023
https://www.energy-storage.news/iron-flow-battery-player-ess-inc-improves-revenue-position-says-ip-safe-for-years-to-come/

US flow battery manufacturer ESS Tech Inc (ESS Inc) has made “tremendous progress” on its ability to recognise revenues and reduced direct costs of production of its flagship product by 30% in Q2 2023.

The company has just announced its financial results for the previous quarter. As it battles to scale up its proprietary iron electrolyte flow battery technology, ESS Inc has only reported revenues once before, in Q1, of US$400,000 but in Q2 this jumped to US$2.8 million.

While that remains a fairly low sounding figure, company leadership emphasised in presentations and an earnings call with analysts that this represents the start of an ongoing upward trend. For the full-year 2022, revenues stood at US$894,000.

ESS Inc also said it has around US$100 million cash and equivalents on hand, which CFO Anthony Rabb said “should last us well into 2024,” with the company continuing to manage its cash burn rate “effectively”.

CEO Eric Dresselhuys said ESS Inc had been able to reduce the direct costs of its next generation flow battery by 30% and reduce build time by 29% during the second quarter alone.

With those cost reduction and efficiency gains playing a major part, ESS Inc expected its flagship Energy Warehouse (EW) flow battery product to be profitable on a non-GAAP gross margin basis in the second half of 2024, CFO Rabb said. The company had made “tremendous progress with our revenue recognition process,” the CFO claimed.

Energy Warehouse comes in 75kW containerised units with 500kWh peak energy capacity and 400kWh rated energy capacity. Designed for 25-year lifetime of operation and more than 20,000 cycles, it was first deployed in 2015, but the latest Generation II design came out in 2020.

Meanwhile, ESS Inc is preparing to launch a larger front-of-the-meter (FTM) product, Energy Center. Production is expected to begin in Q4 2023. Available in 145kWdc increments, Energy Center will allow for 8MWh of rated capacity per megawatt installed, or 10MWh of peak capacity per megawatt installed.

The long-duration energy storage (LDES) provider is the only manufacturer in the world of the flow battery, which uses an iron and saltwater-based electrolyte. Other makers’ flow batteries use different electrolyte solution, with vanadium pentoxide the most commonly used.

ESS Inc now has a total of 238 patents granted, pending or in application, the CEO said. That includes 10 new patents granted and 13 more filed in the second quarter alone.

“We feel confident that the moat around our IP portfolio will safeguard our iron flow technology approach for years to come,” Dresselhuys said.

Tailwinds take time
Whereas in Q1 2023 the company only delivered two units, recognising its US$400,000 revenues for the quarter, Dresselhuys had talked up ESS Inc’s prospects in energy storage markets both in the US and abroad enjoying tailwinds such as the US’ Inflation Reduction Act (IRA) and Europe’s raised renewable energy ambitions.

It would take time for those tailwinds to result in revenue growth for ESS Inc, the CEO had said in Q1, which was reiterated on the conference call that took place yesterday.

Referring to the US market, ESS Inc was continuing to “actively engage in the implementation of the Inflation Reduction Act (IRA), the Bipartisan Infrastructure Bill and various state-level initiatives to accelerate the deployment of energy storage”.

“These are large initiatives and the pace of activity isn’t as fast as I’d like,” Dresselhuys said.

However, ESS Inc was encouraged by the recent publication of guidance on domestic content requirements to get adders to IRA incentives from the IRS, as ESS Inc will be manufacturing its battery modules on US soil. Dresselhuys also said recent funding support for long-duration energy storage from the US Department of Energy (DOE) for its Energy Storage Grand Challenge was encouraging.

Three key deals
The company mentioned some recent deals as highlights of its Q2 activities, such as its agreement to deploy a 50MW/500MWh system with German energy firm LEAG, which is looking to develop a large net zero emissions baseload energy network using renewables, energy storage and hydrogen electrolysis.

While ESS Inc said the initial deployment is expected to result in a deal to provide a flow battery-based “standardised building block” for LEAG’s planned 2-3GWh LDES rollout, the contract is still due to be finalised this quarter (Q3), while deployments will not begin until 2027.

Elsewhere, Energy-Storage.news readers may have noticed a few days ago that ESS Inc’s partner and technology licensee in Australia, Energy Storage Industries Asia-Pacific (ESI), is being awarded funding for a pilot project in the state of Queensland.

While details of that project have not been specified, it will receive AU$12 million (US$7.85 million) of grant funding from Queensland’s government. ESI is building a factory in the state based on ESS Inc’s IP, and will distribute and manufacture iron flow batteries for the Australia, New Zealand and Oceania markets.

The US company claimed the partnership could be good for 1GWh of flow battery deliveries over the next seven years, although longer term the systems will be manufactured locally in Australia.

The third and perhaps most significant customer deal ESS Inc management referenced in its results presentation and earnings call is with California’s Sacramento Municipal Utility District (SMUD).

Again, announced as a partnership with multi-gigawatt-hour potential which is starting off with a number of smaller deployments, ESS Inc will supply SMUD with up to a targeted 2GWh of battery storage by 2028 as the utility pursues an aggressive decarbonisation agenda to the end of this decade.

Deliveries to SMUD’s first project have already begun and six flow battery units have been shipped and are now entering their commissioning phase.

[WeTheMarket]

ESS Tech, Inc. Announces Second Quarter 2023 Financial Results
August 08 2023
Link to Press Release https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/91763141/ess-tech-inc-announces-second-quarter-2023-finan
Link to Presentation https://s28.q4cdn.com/365128779/files/doc_financials/2023/q2/ESS-Investor-Presentation-Aug-23-Final.pdf
Link to Webcast https://events.q4inc.com/attendee/775493526

Highlights
- Record Revenue of $2.8 Million
- Delivered Energy Warehouses™ to Four New Customers
- Announces Partnership with LEAG

ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE: GWH), a leading manufacturer of long-duration energy storage systems for commercial and utility-scale applications, today announced financial results for its second quarter ended June 30, 2023.

“I’m proud of the progress ESS made in the second quarter, recognizing record revenue of $2.8 million and delivering nine Energy Warehouses to four different customers. We’ve made significant improvements across our internal operations which are driving solid gains in manufacturing efficiency, greater predictability in our ability to meet our customers' needs and more streamlined revenue recognition,” said Eric Dresselhuys, CEO of ESS. “Our innovative, sustainable iron flow battery technology remains the key to our success and fuels our potential for long-term growth and profitability. As the Inflation Reduction Act continues to spark increased interest among customers seeking low-cost ways to decarbonize and enable long-duration energy storage in their grids, ESS remains well-positioned to capture share in this rapidly expanding market, as evidenced by our partnership with LEAG. With continually improving execution and visibility across the business, we expect revenue for the next two quarters to continue at approximately the same rate as the second quarter. Our tightly-aligned team is poised to unlock even greater efficiency improvements in the coming quarters while maintaining a healthy cash balance.”

Recent Business Highlights

- Recognized $2.8 million in revenue and shipped nine Energy Warehouses™ in the second quarter.
- Entered into a strategic partnership with LEAG, a major German energy provider. LEAG and ESS plan to build a 500 MWh iron flow battery system at the Boxberg Power Plant site in Germany, to help manage demand charges and ensure resilient operations while creating a template for further storage installations. - The execution of definitive agreements is expected in the third quarter in anticipation of project financial close.
- Began shipments for the first phase of ESS’ relationship with Sacramento Municipal Utility District (SMUD), to support SMUD’s 2030 Zero Carbon Plan. As previously announced, ESS has agreed to supply up to 2 GWh of long-duration energy storage over the next four years in the form of Energy Warehouses™ and Energy Centers™. As part of this multi-year agreement, ESS also intends to set up facilities for battery system assembly, operations and maintenance support and project delivery in Sacramento, creating local, high-paying jobs. In addition, ESS and SMUD plan to team up with local colleges and universities to establish a - Center of Excellence to expand and train the workforce that will be needed to support long-duration energy storage technology.
- ESS Energy Warehouse units received certification to the Underwriters Laboratories’ (UL) 9540 standard, an industry standard for stationary energy storage systems. This certification underscores our technology's resilience, safety and quality in a variety of environments and conditions.
- ESS has been awarded 10 additional patents for its iron flow battery technology in the second quarter, further reinforcing its position as an industry leader in the long-duration energy storage market. This brings the total number of patents held by the company to 70 worldwide and a total of 235 applications filed, as of June 30, 2023.

Conference Call Details

ESS will hold a webcast conference call on Tuesday, August 8, 2023 at 5:00 p.m. EDT to discuss financial results for its second quarter 2023 ended June 30, 2023. Interested parties may join the conference call beginning at 5:00 p.m. EDT on Tuesday, August 8, 2023 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 025797. A telephone replay will be available until August 15, 2023, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 253542. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the call will be available via the web at http://investors.essinc.com/.

About ESS, Inc.

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

Energy Warehouses and Energy Centers are trademarks of ESS Tech, Inc. Any third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between ESS and the third party unless expressly stated.

Use of Non-GAAP Financial Measures

In this press release and the accompanying earnings call, the Company includes Non-GAAP Operating Expenses and Adjusted EBITDA, which are non-GAAP performance measures that the Company uses to supplement its results presented in accordance with U.S. GAAP. As required by the rules of the Securities and Exchange Commission (“SEC”), the Company has provided herein a reconciliation of the non-GAAP financial measures contained in this press release and the accompanying earnings call to the most directly comparable measures under GAAP. The Company’s management believes Non-GAAP Operating Expenses and Adjusted EBITDA are useful in evaluating its operating performance and are similar measures reported by publicly-listed U.S. companies, and regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. By providing these non-GAAP measures, the Company’s management intends to provide investors with a meaningful, consistent comparison of the Company’s profitability for the periods presented. Adjusted EBITDA is not intended to be a substitute for net income/loss or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Further, Non-GAAP Operating Expenses are not intended to be a substitute for GAAP Operating Expenses or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

The Company defines and calculates Non-GAAP Operating Expenses as GAAP Operating Expenses adjusted for stock-based compensation and other special items determined by management as they are not indicative of business operations. The Company defines and calculates Adjusted EBITDA as net loss before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities associated with debt and equity transactions as they are not indicative of business operations.

[WeTheMarket]

ESS Inc. Schedules Second Quarter 2023 Financial Results Conference Call
July 19 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/91606946/ess-inc-schedules-second-quarter-2023-financial-r

ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE:GWH), a leading global manufacturer of long-duration energy storage systems, announced today that it will hold a conference call on Tuesday, August 8, 2023 at 5:00 p.m. EDT to discuss financial results for its second quarter 2023 ended June 30, 2023.

,,,

[WeTheMarket]

Short Seller-Driven Class Action Suit Dismissed
July 05 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/91506275/short-seller-driven-class-action-suit-dismissed

[WeTheMarket]

LEAG and ESS to Develop Clean Energy Hub for Germany
June 15 2023
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/91340757/leag-and-ess-to-develop-clean-energy-hub-for-germa

LEAG to develop up to 14 GW of renewable generation paired with 2-3 GWh of energy storage and 2 GW of green hydrogen production

Today, ESS Tech Inc. (NYSE:GWH) (“ESS”), a leading global manufacturer of long-duration energy storage systems, and LEAG, a major German energy provider, signed an initial agreement to accelerate the clean energy transition through the deployment of renewable generation and long-duration energy storage (LDES) using ESS iron flow battery technology.

Following the execution of definitive agreements and normal financial close, anticipated in Q3 2023, LEAG and ESS plan to build a 50 MW / 500 MWh iron flow battery system at the Boxberg Power Plant site, to be commissioned in 2027. The resulting 50 MW/500 MWh module is expected to become a standardized building block in LEAG’s plan to deploy 2-3 GWh of storage in the transformation of the LEAG power plant locations. LEAG and partners plan to invest €200 million with further support anticipated from additional investors and stakeholders.

ESS has developed an iron-based LDES technology which uses safe and sustainable battery chemistry to deliver low-cost, utility-scale energy storage. ESS technology is currently manufactured at the company’s facilities near Portland, Oregon, USA. ESS systems have already been deployed in commercial microgrid systems, with utility-scale projects underway in the USA and Australia.

“We look forward to partnering with LEAG to develop the model for utilities and communities worldwide transitioning from coal to clean, renewable energy,” said Eric Dresselhuys, CEO of ESS. “The deployment of renewables and long-duration energy storage will not only deliver reliable, clean energy to effectively replace the baseload power currently provided by coal, it will deliver economic opportunity and a cleaner environment for Germany.”

LEAG is a leading operator of large-scale lignite mining and coal-fired generation in Eastern Germany that is implementing a vision to transform the coal-dependent region into Germany’s Green Powerhouse. The company plans to develop 7-14 GW of renewable generation paired with 2-3 GWh of energy storage and 2 GW of green hydrogen production. Combined, these technologies will create a net-zero-carbon baseload energy system. When fully operational, LEAG expects to demonstrate a renewable energy system at scale which not only replaces baseload coal generation, but uses short-duration storage, LDES and hydrogen to replace natural gas for grid balancing.

“A key requirement for our transformation into Germany’s Green Powerhouse is the deployment of cost-effective Long-Duration Energy Storage. We are energized to demonstrate the value of iron flow battery technology at scale,” said Thorsten Kramer, CEO of LEAG. “The Energy Resilience Leadership Group and Breakthrough Energy have provided an ideal framework to drive rapid technology development and deployment to meet emissions goals as soon as possible.”

LEAG and ESS have joined the Energy Resilience Leadership Group (ERLG), a multi-stakeholder initiative led by Breakthrough Energy and Siemens Energy that brings together corporate CEOs, political leaders, financial institutions, and startups at the technology frontier. The Group was launched at the 2023 Munich Security Conference with the goal to enhance Europe’s energy resilience by rapidly bringing emerging climate technologies to scale. ERLG forges partnerships between startups and corporates to work towards deploying commercially viable projects within 24 months. The project of LEAG and ESS is one of the projects that the ERLG network is helping to accelerate.

“We are pleased to support a long-term strategic relationship between energy and technology experts LEAG and ESS through the Energy Resilience Leadership Group,” said Philipp Offenberg, Senior Manager, Europe at Breakthrough Energy. “Delivering green baseload power thanks to scalable, long-duration energy storage will not only solve a major challenge to decarbonization. It will also enhance Europe’s energy resilience, because less natural gas will be needed for backup power generation in the future.”

Summary:
- U.S. energy storage technology manufacturer ESS Tech, Inc. and German energy provider LEAG cooperate to scale up iron-flow technology to provide long-duration energy storage as part of LEAG’s strategy to become Germany’s Green Powerhouse.
- Breakthrough Energy supports the cooperation / project within the programme of Energy Resilience Leadership Group (ERLG).
- First phase: demonstration of 50 MW / 500 MWh iron flow battery system at the Boxberg Power Plant to be operational by 2027.
- Project expected to catalyze the sustainable transformation of a major German coal mining and energy generation region

About the Energy Resource Leadership Group:

The Energy Resilience Leadership Group is a multi-stakeholder initiative led by Breakthrough Energy and Siemens Energy that brings together corporate CEOs, political leaders, financial institutions, and startups at the technology frontier. The Group was launched at the 2023 Munich Security Conference with the goal to enhance Europe’s energy resilience by rapidly bringing emerging climate technologies to scale. ERLG forges partnerships between startups and corporates to work towards deploying commercially viable projects.

About ESS Tech Inc.:

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long- duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

[StockLogistics]

“3:27p ET 3/22/2022 - Benzinga
Guggenheim Is Bullish On ESS Tech, Sees Significant Upside

ESS Tech Inc (NYSE: GWH) coverage has been initiated with a Buy rating and a price target of $10 (implying an upside of 82.5%) by Guggenheim analyst Joseph Osha.
The analyst cites ESS as one of a large group of companies over the past two decades aiming to make flow batteries work commercially. Osha views ESS Tech as well-positioned.
ESS Tech is a manufacturer of long-duration batteries for commercial and utility-scale energy storage applications.

Price Action: GWH shares are trading higher by 4.58% at $5.48 on the last check Tuesday.
Latest Ratings for GWH DateFirmActionFromTo

Dec 2021BairdInitiates Coverage OnOutperform Dec 2021OppenheimerInitiates Coverage OnOutperform Nov 2021Canaccord GenuityInitiates Coverage OnBuy

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”

[WeTheMarket]

$GWH ESS Batteries Achieve Additional UL Safety Certification
Marc 20, 2023
https://www.otcdynamics.com/gwh-ess-batteries-achieve-additional-ul-safety-certification/

Key quotes from the article:

"UL 1973 is an industry standard for stationary energy storage systems which confirms ESS modules’ quality, resilience and ability to operate safely and effectively in a variety of conditions. S200 modules power the company’s Energy Warehouse and Energy Center product lines and certification to the UL 1973 standard demonstrates the company’s commitment to safety.

In 2022, ESS also achieved certification to the UL 9540A standard, demonstrating that ESS systems pose no risk of thermal runaway and making the company’s energy storage products a preferred choice for installation in regions prone to wildfires or adjacent to populated areas.

Recent use cases illustrate the advantages of ESS’ safe and nontoxic energy storage technology. In January, ESS was selected by Amsterdam Airport Schiphol to provide a battery system that will enable electrification of ground operations. The safety profile of ESS technology was a key factor in system selection given close proximity to passenger aircraft.

In addition, ESS was selected by the Sacramento Municipal Utility District (SMUD) to deliver up to 2 GWh of energy storage systems in support of the utility’s 2030 Clean Energy Vision. To build a resilient, decarbonized energy system, ESS technology will be deployed across SMUD’s grid. The safety and flexibility of ESS technology make it ideally suited for siting in densely populated areas where improved grid resilience is needed and safety is a top priority."

[Brokemillwright]

They got in at the start up phase.

[Brokemillwright]

Incorrect, I know of at least one news letter that has pumped this. Theu might be early but they aren't wrong

[kegun]

Well, that doesn't make sense to me. If a pro, that has been a pro for 25 years, recommended a scam to their customers, they would be out of a job immediately.

By the way, can you provide any evidence of this so we can make up our own minds.

Not saying I don't trust you but....ok maybe

[BeanbrainGetsGoing]

No professional is recommending this stock other than professional scammers. GWH is a scam.

[WeTheMarket]

ESS Tech: Drones Vanquish Rumors
Jan. 19, 2023
Electric Phred
https://seekingalpha.com/article/4570809-ess-tech-drones-vanquish-rumors

Summary
- Grizzly Research put out some short seller research on December 7, 2022, stating that ESS's Australian partner isn't in fact building a plant.
- Grizzly used very dated Google satellite images and a SPOT satellite image they claim is from November 1, 2022, to make their point.
- Much higher resolution drone footage from January 16, 2023, puts Grizzly's claims of "no building happening" in the penalty box.

[kegun]

Ok, you've said that many times. Normally, when someone makes claims over and over, they normally have some sort of proof that makes them say that over and over.

Should everyone here just trust that you have info to back that up? We would like to hear why you think that. That is how things work.

I have professionals recommending this stock. You don't have any responsibility or fallout from making these claims like they do.
I call BS

[BeanbrainGetsGoing]

GWH is a scam.

[WeTheMarket]

The one month chart looks like an electrocardiogram (EKG). Moving up lately, hopefully, this positive trend continues.

[ison929]

Nice end of day closing.

[grnindustree]

Beano is now on IGGY...

[BeanbrainGetsGoing]

GWH is a scam.

[ison929]

Hopefully we saw the bottom last week. Get on board. It will be a long long journey. GLA

[BeanbrainGetsGoing]

MMs have nothing to do with this scam.

[ison929]

MMs working hard to confuse SHs imo.

[WeTheMarket]

ESS Inc. Lands Energy Storage at Amsterdam Airport Schiphol to Accelerate Air Industry Decarbonization
ESS technology to enable air-side electrification and advance sustainability strategy at major European air transport hub
January 19, 2023 07:00 AM ET
WILSONVILLE, Ore. & AMSTERDAM
https://www.businesswire.com/news/home/20230119005274/en/ESS-Inc.-Lands-Energy-Storage-at-Amsterdam-Airport-Schiphol-to-Accelerate-Air-Industry-Decarbonization

[ison929]

AHHH. this "SPAM" landed another big contract.

ESS Tech Says Amsterdam Airport Schiphol to Use Energy Storage System
MT NEWSWIRES 8:24 AM ET 1/19/2023
Symbol Last Price Change
GWH 2.22down 0 (0%)
QUOTES AS OF 04:10:00 PM ET 01/18/2023
08:24 AM EST, 01/19/2023 (MT Newswires) -- ESS Tech(GWH) said Thursday that the Netherlands' Amsterdam Airport Schiphol will use the company's Energy Warehouse storage system for a pilot that will allow retiring polluting diesel generators.

The storage service will be delivered to the airport in Q1, the company said.

The pilot is part of the airport's sustainability plan with an aim to be zero-waste and emission-free in 2030, ESS Tech(GWH) said.

Energy Warehouse will be used to recharge electric ground power units, which are batteries that will replace the diesel ground power units supplying electrical power to aircraft during airport parking.

Price: 2.2, Change: -0.02, Percent Change: -0.9


MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

[BeanbrainGetsGoing]

GWH/ESS is an infomercial scam.

[ison929]

They invest differently, not like us retail investors.