[JayBucks]

$50 million financing package provided by the Export-Import Bank of the United States of America will enable ESS to expand manufacturing capabilities, achieve cost efficiencies and accelerate deployments.

[govprs]

Success!

https://www.businesswire.com/news/home/20240531450091/en/

[JayBucks]

Nice, another big project for ESS

[WeTheMarket]

ESS Tech, Inc. Announces First Quarter 2024 Financial Results
May 07 2024
Link to Press Release https://investors.essinc.com/news/news-details/2024/ESS-Tech-Inc.-Announces-First-Quarter-2024-Financial-Results/default.aspx
Link to Presentation https://s28.q4cdn.com/365128779/files/doc_financials/2024/q1/Q1-24-ESS-Investor-Presentation-Final.pdf
Link to webcast https://events.q4inc.com/attendee/928100697
Q1 2024 Video Update

Q1 Revenue of $2.7 Million

Partnered with Sapele Power to Supply LDES in Africa

Completed Testing of First Energy Center for Portland General Electric

Ordered Second Power Module Automation Line with 40% Greater Production Capacity

Exited Q1 with Cash and Short-Term Investments over $89 million; Expected to Carry ESS Well Into H1’25

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 first quarter ended March 31, 2024.

“I’m pleased with the team’s execution in the first quarter, where we again made tremendous progress across a broad number of fronts and achieved $2.7 million in revenue, a seven-fold increase over last year. Not only has our customer-facing team demonstrated marked success in commissioning products across a number of varied operating environments, but our sales team continues to win new deals and expand our footprint into new geographic markets with customers like Sapele Power, a leading African energy generation company. Momentum is growing behind our Energy Center™ (EC) product. We have completed all of our performance, safety and regulatory tests for our first EC and are operating the unit right now. We expect to start building and shipping our second unit early in Q3 and, given the significant energy density and cost per KWh advantages over our Energy Warehouse, we remain confident that our EC will be a key driver of long-term profitable expansion,” said Eric Dresselhuys, CEO of ESS. “Given the success of our first power module automation line, which has enabled us to increase capacity and consistency with dramatically lowered input costs, we’ve ordered our second power module automation line so that it becomes operational as we begin to ramp up shipments. With 40% more production capacity at half of the installed cost on a per MWh basis, our second line will greatly add to our momentum in lowering our production cost while enabling scale. With prudent cash management and efficient capacity expansion, our team continues to position the company for sustained growth and profitability as we scale the business and ramp up shipments later this year."

Recent Business Highlights

- EC products received the highest level of IEEE 693 rating, a widely-accepted seismic rating for energy infrastructure, making ESS the first non-lithium, grid-scale LDES provider to receive such a rating.
- Named as one of Fast Company’s 2024 Most Innovative Companies in the energy category.
- Named as a finalist for the Reuters 2024 Global Energy Transition Awards in “The Technologies of Change - Accelerating Decarbonization” category, which recognizes revolutionary technology in the energy sector.
- In addition to IEEE seismic certification, completed of all of the more than 90 tests to validate operations, safety and performance of our first Energy Center™. ESS will start building our second EC in the beginning of Q3, which will be deployed next to the first EC, both for Portland General Electric. We expect to start building and shipping our first commercial ECs in the second half of 2024 for delivery to Tampa Electric and the Sacramento Municipal Utility District, or SMUD.
- Ordered a second power module automation line, with the capability of producing more than 600 MWh per year, 40% more than the first automation line, which translates into substantially lower capex dollars per MWh of production capacity investment. This second line is expected to be operational in the 1H of 2025.
Installed an Energy Warehouse™ system at Burbank Water and Power, their first utility-scale battery storage project. This EW is paired with an on-site solar array where ESS technology will demonstrate the critical role of LDES in a fully renewable grid.
- Completed commissioning of an Energy Warehouse™ (EW) system at Schiphol Airport in Amsterdam, the second largest airport in mainland Europe, which will be used to help advance Schiphol Airport’s sustainability strategy. The EW system will be used to recharge Electric Ground Power Units (E-GPU), which are intended to replace the diesel ground power units currently used to supply electrical power to aircraft when parked at the airport.

Conference Call Details

ESS will hold a conference call on Tuesday, May 7, 2024 at 5:00 p.m. EDT to discuss financial results for its first quarter 2024 ended March 31, 2024. Interested parties may join the conference call beginning at 5:00 p.m. EDT on Tuesday, May 7, 2024 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 193523. A telephone replay will be available until May 14, 2024, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 618165. 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.

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 amortization, 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 to Deliver Long-Duration Energy Storage Solutions to Sapele Power to Improve Generation Efficiency
May 07 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93791794/ess-to-deliver-long-duration-energy-storage-soluti

Partnership demonstrates key LDES use case and the largest U.S. government-financed battery storage system export to Africa to date

ESS Tech, Inc. (“ESS”) (NYSE: GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that it has partnered with Sapele Power Plc (“Sapele”), a leading Nigerian integrated energy company specializing in power generation, to provide an initial 1 MW / 8 MWh of long-duration energy storage. This agreement represents the largest battery storage system export to Africa financed by the Export-Import Bank of the United States of America to date and will improve the efficiency of Sapele’s existing assets by providing ancillary services.

According to the International Energy Agency, an estimated 40% of all the electricity consumed in Nigeria is produced from backup generators due to unreliable power supply caused by limited grid infrastructure, underinvestment and ineffective regulatory frameworks. Projects such as this demonstrate the opportunity to improve grid reliability and efficiency through the addition of battery storage resources.

As ESS’ first project in Africa, the company’s iron-flow technology will provide safe and sustainable LDES which will enable load-smoothing, peak demand shifting and enable the Sapele power station’s turbines to ramp up and down efficiently.

“As we continue to grow and meet global demand for long-duration energy storage, we are proud to serve innovative use cases, demonstrating the many potential applications for ESS technology,” ESS CEO Eric Dresselhuys said. “This project demonstrates Sapele’s leadership in ensuring reliable electricity for homes and businesses with greater capital efficiency, which will be key to creating a sustainable and resilient energy system across Africa.”

"This project will deliver improved reliability and efficiency for our generation assets in Nigeria,” said Sapele Board Member Heather Onoh. “We are pleased to partner with ESS to deploy the first iron flow battery system in Africa. Long-duration energy storage will play a critical role in a resilient, reliable energy system and this is just the first of many LDES projects that we anticipate in coming years.”

ESS’ sale to Sapele was supported by the Export-Import Bank of the United States (EXIM), the official export credit agency of the United States that aims to support American jobs by facilitating the export of U.S. goods and services. The deal will be financed in part by EXIM and is one of the first energy storage projects in Nigeria and the entire sub-Saharan Africa region.

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.

[WeTheMarket]

ESS Inc. Schedules First Quarter 2024 Financial Results Conference Call
April 24 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93708811/ess-inc-schedules-first-quarter-2024-financial-re

ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that it will hold a conference call on Tuesday, May 7, 2024 at 5:00 p.m. EDT to discuss financial results for its first quarter 2024 ended March 31, 2024.

The news release announcing the first quarter 2024 financial results will be disseminated on May 7, 2024 after the market closes.

Interested parties may join the conference call beginning at 5:00 p.m. EDT on Tuesday, May 7, 2024 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 193523. A telephone replay will be available until May 14, 2024, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 618165. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423480283/en/

Investors:
Erik Bylin
[e-mail]

Media:
Morgan Pitts
503.568.0755
[e-mail]

[WeTheMarket]

Podcast: Benefits of Iron Flow Battery Storage Technology Detailed by Burbank Water and Power’s Mandip Samra
Link to Podcast: https://energycentral.com/c/gr/benefits-iron-flow-battery-storage-technology-detailed-burbank-water-and-power%E2%80%99s

California public power utility Burbank Water and Power on April 5 is scheduled to hold a ribbon cutting for a new iron flow battery storage project. Among the benefits of iron flow battery storage technology is the useful life of the battery, which is expected to be 25 years, as compared with 10 years for other types of storage technology, said Mandip Samra, Assistant General Manager for Power Supply at Burbank Water and Power, in the latest episode of the American Public Power Association's Public Power Now podcast.

[JayBucks]

Fair, but those warrants might be even more worthless if ESS gets kicked off the NYSE.

[WeTheMarket]

ESS’ Energy Center is First LDES Solution to Receive IEEE 693 Rating Demonstrating Resilience Against Seismic Events
March 25 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93542631/ess-energy-center-is-first-ldes-solution-to-rece

Following rigorous testing, achievement of IEEE 693-High demonstrates ESS’ commitment to delivering resilient, safe and sustainable energy storage infrastructure.

ESS Tech, Inc. (ESS) (NYSE: GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that the company’s Energy Center product line has passed rigorous testing and meets the requirements for the highest level of IEEE 693 certification, a widely-accepted seismic rating for energy infrastructure. This standard provides assurance that the Energy Center product line qualifies for deployment as critical infrastructure across the United States. The company is the first non-lithium LDES provider to receive such a rating.

Testing was conducted by the Pacific Earthquake Engineering Research Center at the University of California, Berkeley, and included a shake table test of ESS battery module assemblies and thorough evaluation of Energy Center design. Certification to the IEEE 693 – Level: High standard demonstrates that the Energy Center can withstand acceleration up to 2.5 times the force of gravity and be relied upon to provide power during major seismic events.

“We are committed to providing resilient, high-quality energy storage solutions that customers can rely on when they need them most, especially during extreme weather or natural disasters,” said ESS Chief Technology Officer, Dr. Julia Song. “Achieving IEEE 693 certification for the Energy Center follows rigorous testing and demonstrates the key role for ESS technology in the critical infrastructure powering the clean energy future.”

ESS iron flow battery technology offers numerous safety advantages over incumbent energy storage technologies including significantly lower risk of fire and a safe and sustainable electrolyte primarily made of iron, salt and water. Availability of flexible, safe and resilient LDES technologies will be critical as the world transitions to renewable energy. In regions such as California, a global leader in renewable energy that is also susceptible to significant earthquake activity, energy storage technology must be able to withstand seismic events without sustaining damage or causing power interruptions.

“Thanks to our engineering team’s efforts, we are continuing to develop, deploy and validate cutting edge long-duration energy storage solutions that provide the secure, resilient power that our customers require,” ESS CEO Eric Dresselhuys said. “Achievement of IEEE 693 follows rigorous testing and is an attestation to the quality and reliability of ESS solutions.”

Achievement of IEEE 693 builds on the company’s successful attainment of ETL certification to UL 9540 for the Energy Warehouse and UL 9540A and UL 1973 standards for the company’s core technologies, incorporated into the Energy Center. ETL certification to UL 9540 is currently underway for the Energy Center, further demonstrating the company’s commitment to deliver robust energy storage products to strengthen the grid, enable the deployment of renewable energy and meet the needs of global utilities and energy generators.

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.

[WeTheMarket]

JB, I hope not. I own warrants, and in the event of a reverse split, warrants become practically worthless.

[JayBucks]

I hope they do a reverse split. Honestly they should have done it a while ago.

[WeTheMarket]

ESS Tech, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results
March 13, 2024
https://investors.essinc.com/news/news-details/2024/ESS-Tech-Inc.-Announces-Fourth-Quarter-and-Full-Year-2023-Financial-Results/default.aspx

Highlights
- Lowered Q4 Adjusted EBITDA loss by More Than 50% year over year
- Exited 2023 with Cash and Short-Term Investments over $100 million; Expected to Carry ESS Well Into H1’25
- Delivered First Energy Warehouses to Honeywell
- Energy Warehouse manufacturing cost lowered by 60% in 2023
- Target 40% 2024 EW Cost Reduction to Achieve non-GAAP Gross Margin Profitability

WILSONVILLE, Ore.--(BUSINESS WIRE)-- ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced financial results for its fourth quarter and full year ended December 31, 2023.

“During 2023 our team made significant progress towards our most important objectives, including securing transformative partnerships with LEAG and Honeywell, optimizing our internal operations, and pursuing design initiatives to lower production costs by improving manufacturability and scale. While we faced customer-related delays that impacted our financial results, the team’s work during the year laid a solid foundation for us to scale the business, launch the Energy Center and move toward unit profitability in 2024. In fact, our strategic decision to make fewer Energy Warehouses (EWs) and ship them to customers with the greatest long-term opportunity allowed us to conserve cash and exit the year with a cash and short-term investments balance over $100 million. Importantly, we brought down costs to build an EW by almost 60% during 2023 and successfully cut our Q4 adjusted EBITDA loss in half year over year,” said Eric Dresselhuys, CEO of ESS. “ESS continues to make tremendous progress on our strategy to build a world class, scalable company that is well-positioned to serve the immense long-duration energy storage market. The actions we’ve already taken have resonated with customers and we continue to see robust customer engagement. In 2024 we plan to further reduce EW unit costs by up to 40% as we move toward unit profitability while ramping our scale and maintaining a healthy cash balance.”

Recent Business Highlights
- Achieved record revenue of $7.5M for FY 2023.
- Delivered first Energy Warehouses™ under the partnership with Honeywell in Q4 2023 and recently cleared previously announced customer delays in Australia, - which we expect will result in revenue of approximately $2 million in Q1 2024 which was originally anticipated in Q4 2023.
- At the end of 2023, ESS successfully “lifted” its first Energy Center™ (EC), a key milestone in the manufacturing process. The EC is a utility-scale, front-of-the-meter long-duration energy storage product which provides up to eight hours of energy storage with a flexible, scalable platform to meet the LDES needs of utilities worldwide. We expect this inaugural EC system will be commissioned and delivered to Portland General Electric later this year.
- Delivered an Energy Warehouse™ system to the Burbank Water and Power (BWP) EcoCampus, BWP’s first utility-scale battery storage project. This EW will be paired with an on-site solar array where ESS technology will demonstrate the critical role of LDES in a fully renewable grid.
- Delivered two Energy Warehouses™ to Turlock Irrigation District (TID) in Central California to support TID’s Project Nexus. At TID, the EW will be paired with a proof of concept of solar panels over irrigation canals. which aims to conserve water resources by reducing evaporation while generating clean energy, reducing diesel generation and reducing energy costs.
- Completed commissioning of an Energy Warehouse™ system at the Contingency Base Integration Training Evaluation Center (CBITEC) operated by the US Army Corps of Engineers Engineer Research and Development Center in Fort Leonard Wood, Missouri. This EW has been incorporated into a tactical microgrid at CBITEC and will demonstrate the key role that LDES, specifically iron flow battery technology, can play to reduce fuel consumption at Contingency Bases such as Forward Operating Bases or other temporary use locations providing humanitarian assistance or disaster relief.

Conference Call Details

ESS will hold a conference call on Wednesday, March 13, 2024 at 5:00 p.m. EDT to discuss financial results for its fourth quarter and full year ended December 31, 2023. Interested parties may join the conference call beginning at 5:00 p.m. EDT on Wednesday, March 13, 2024 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 261003. A telephone replay will be available until March 20, 2024, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 769695. 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.

[WeTheMarket]

ESS Tech, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results
March 13 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93483958/ess-tech-inc-announces-fourth-quarter-and-full-y

[WeTheMarket]

Form 8-K - Current report
March 08 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93457543/form-8-k-current-report

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On March 6, 2024, ESS Tech, Inc. (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (“NYSE”) indicating that the Company did not satisfy the continued listing standard set forth in Section 802.01C of the NYSE’s Listed Company Manual (“Section 802.01C”), as the average closing price of the Company’s common stock was less than $1.00 per share over a consecutive 30 trading-day period. As of March 5, 2024, the 30 trading-day average closing share price of the security was $0.94. The Notice is a notice of deficiency, not delisting, and does not currently affect the listing or trading of the Company’s common stock on the NYSE.

Section 802.01C requires the Company to notify the NYSE, within 10 business days of receipt of the Notice, of its intent to cure this deficiency. The Company intends to notify the NYSE within this time period that it intends to regain compliance. Pursuant to Section 802.01C, the Company has a period of six months following receipt of the Notice to regain compliance with the minimum share price requirement, with the possibility of extension at the discretion of the NYSE. The Company can regain compliance with the average closing price requirement at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00, and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or the last trading day of the cure period. If the Company determines to remedy the non-compliance by taking action that will require shareholder approval, the Company must obtain shareholder approval no later than its next annual meeting and implement such action promptly thereafter.

The Company intends to monitor closely the closing bid price of its common stock and to consider plans for regaining compliance with Section 802.01C, including initiating a reverse stock split. While the Company plans to review all available options, there can be no assurance that it will be able to regain compliance with the applicable rules during the six-month compliance period, any subsequent extension period, or at all.

[WeTheMarket]

Germany’s Leadership in Energy Storage and Clean Energy: A Detailed Look at the LEAG Project with ESS Inc.
Byenergystoragenow.com
FEB 18, 2024
https://energystoragenow.com/?p=191

In recent years, Germany has emerged as a global leader in the transition to clean energy and energy storage. With a strong commitment to reducing greenhouse gas emissions and achieving energy independence, Germany has implemented innovative projects and policies that are shaping the future of sustainable energy.

The Importance of Energy Storage
Energy storage plays a crucial role in the integration of renewable energy sources into the grid. As the production of renewable energy, such as solar and wind, is intermittent and dependent on weather conditions, effective energy storage systems are essential for balancing supply and demand.

Germany recognized the significance of energy storage early on and has been at the forefront of developing and implementing advanced storage technologies. By investing in research and development, Germany has fostered an environment that encourages innovation and attracts leading companies in the energy storage sector.

The LEAG Project with ESS Inc.
One notable project that highlights Germany’s leadership in energy storage is the collaboration between LEAG, one of Germany’s largest energy companies, and ESS Inc., a leading provider of long-duration energy storage solutions.

The LEAG project aims to enhance grid stability and increase the integration of renewable energy sources by deploying ESS Inc.’s iron flow battery technology. This innovative storage solution offers several advantages over traditional lithium-ion batteries, including longer duration, increased safety, and lower environmental impact.

The iron flow battery technology developed by ESS Inc. utilizes abundant and non-toxic iron electrolyte, making it a sustainable choice for large-scale energy storage. With its long-duration capabilities, the iron flow battery can store excess energy during periods of high renewable energy production and release it when demand is high or renewable energy generation is low.

The LEAG project demonstrates Germany’s commitment to supporting and scaling up emerging energy storage technologies that have the potential to revolutionize the energy sector. By investing in projects like this, Germany is paving the way for a more sustainable and resilient energy future.

Energy Independence
Another key aspect of Germany’s approach to clean energy is its focus on achieving energy independence. By reducing reliance on fossil fuels and increasing the share of renewable energy sources in the energy mix, Germany aims to become less dependent on external energy sources.

This pursuit of energy independence has multiple benefits, including enhanced energy security, reduced vulnerability to price fluctuations in fossil fuel markets, and a decreased carbon footprint. Germany’s commitment to clean energy and energy storage technologies is not only driven by environmental concerns but also by the desire to strengthen its energy independence and ensure a reliable and sustainable energy supply for its citizens.

Conclusion
Germany’s leadership in energy storage and clean energy is evident through projects like the LEAG collaboration with ESS Inc. By prioritizing research, innovation, and the deployment of advanced storage technologies, Germany is driving the transition to a more sustainable and resilient energy system.

The LEAG project showcases the potential of long-duration energy storage solutions, such as ESS Inc.’s iron flow battery technology, to enable the integration of renewable energy sources and enhance grid stability. Furthermore, Germany’s commitment to energy independence highlights its dedication to reducing reliance on fossil fuels and building a more sustainable future.

As the world continues to grapple with the challenges of climate change and the need for clean energy solutions, Germany’s example serves as an inspiration and a testament to the positive impact that proactive policies and investments can have on the energy sector.

If you are interested in investing in energy storage, consider exploring these companies. GWH ESS Tech Inc. (GWH) ESS, is a company that plays a crucial role in accelerating global decarbonization. Their mission is to provide safe, sustainable, long-duration energy storage solutions. Eos Energy Enterprises, Inc. (EOSE) specializes in zinc-based battery storage solutions, offering long-duration energy storage options. QuantumScape Corporation (QS) is primarily focused on solid-state battery technology for electric vehicles, but its innovations could potentially apply to long-duration energy storage. Redflow Limited (RFX.AX) is an Australian-based company that produces zinc-bromine flow batteries for various energy storage applications. Ameresco, Inc. (AMRC) provides comprehensive energy services, including energy storage solutions, for commercial, industrial, and government clients. ViZn Energy Systems specializes in zinc-iron flow batteries designed for long-duration energy storage applications. CellCube Energy Storage Systems Inc. (CUBE.V) develops and markets vanadium redox flow batteries for energy storage applications. Invinity Energy Systems (IES.L) manufactures vanadium flow batteries designed for long-duration energy storage in renewable energy systems. Canadian Solar Inc. (CSIQ) offers energy storage solutions, including lithium-ion batteries, in addition to its solar energy products. Enphase Energy, Inc. (ENPH) provides solar energy solutions, including the Encharge storage system, which integrates with solar installations to provide energy storage capabilities. Consider conducting thorough research and consulting with financial experts before making any investment decisions.

[JayBucks]

The Bears and Short Sellers are Not Happy Today



Check out the low social sentiment score today. A lot of people must be pretty annoyed at the +5% change😂

[WeTheMarket]

ESS Inc. Schedules Fourth Quarter and Full Year 2023 Financial Results Conference Call
February 06 2024
https://ih.advfn.com/stock-market/NYSE/ess-tech-GWH/stock-news/93218592/ess-inc-schedules-fourth-quarter-and-full-year-20

ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that it will hold a conference call on Wednesday, March 13, 2024 at 5:00 p.m. EDT to discuss financial results for its fourth quarter and full year 2023 ended December 31, 2023.

The news release announcing the fourth quarter and full year 2023 financial results will be disseminated on March 13, 2024 after the market closes.

Interested parties may join the conference call beginning at 5:00 p.m. EDT on Wednesday, March 13, 2024 via telephone by calling [phone] in the U.S., or for international callers, by calling [phone] and entering conference ID 261003. A telephone replay will be available until March 20, 2024, by dialing [phone] in the U.S., or for international callers, [phone] with conference ID 769695. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240206607125/en/

Investors:
Erik Bylin
[e-mail]

Media:
Morgan Pitts
503.568.0755
[e-mail]

[govprs]

Honeywell will fix this

[JayBucks]

I’m not worried at all about the energy density of the ESS iron-salt flows. The life span of lithium is a huge issue. Each time the battery cycles, crystals form, if and when those crystals reach across the battery, they short and start a chemical fire. Every lithium battery has a lifespan and cycle limit.

Anyone who wants a reliable, long-term grid storage option would choose low density, high cycle limit and lifespan. Plus the cold weather is not nearly as big of a problem for iron-salt flow as lithium. Not to mention the cost difference.

Again, the only thing keeping GWH from being a true market leader is their technology. Its probably unproven and I have serious doubts about the efficiency. If their capabilities really are as great as they say, its criminal for them to not be marketing their battery. ESS should be a household name by now. Youtube videos are not enough. Social media ads, paying influencers, there are so many no-brainer options. Get a kid to make memes for christ sake. This market shyness is suspicious.

[govprs]

I work in the energy industry and do believe long duration storage is going to be necessary to help offset supply concerns. I also believe we will never stop using natural gas to generate electricity

If there technology is decent and I believe it is because of Honeywell investments then we will be fine here. We are only in the second inning of this game imho

[WeTheMarket]

Govprs, yes, Tesla uses lithium ion batteries, higher densities, shorter duration. Same technology they use for their cars, and powerwalls backup energy storage in homes.

[govprs]

Tesla using lithium???

[WeTheMarket]

Govprs, I know they can, however, they need 10 containers to match the 3.9 MWh of a single Tesla container (see my previous post), that's going to require an enormous footprint.

[govprs]

I think they can string several containers together as a battery bank

[WeTheMarket]

Drone footage of Tesla facility sparks excitement online: ‘I’m thinking 2024 will be an incredible year’
Story by Laurelle Stelle •
Posted 11h ago
https://www.msn.com/en-us/news/technology/drone-footage-of-tesla-facility-sparks-excitement-online-i-m-thinking-2024-will-be-an-incredible-year/ar-BB1hdVnJ

Arecent drone flyover of Tesla’s Lathrop Megafactory shows the company’s progress on its incredible grid-scale battery Megapacks, Teslarati reported.

The footage, which emerged in December, showed an aerial view of the California facility where Tesla produces its Megapacks. In addition to revealing two Tesla Semis and some smaller battery units in the lot, the video also revealed 339 Megapacks in the company’s holding lot.

Tesla Megapacks are huge battery packs designed to be hooked up to the electrical grid. According to the company, they each hold enough electricity to power 3,600 homes for one hour.

Teslarati lays out the numbers: There is a two-hour unit that provides 1.9 megawatts of power and 3.9 megawatt-hour of energy and a four-hour unit that offers 1 MW of power and 3.9 MWh of energy. Units range from $1,270,310 (four-hour version without installation) to $2,123,590 (the more powerful two-hour version, with installation included).

That means the 339 Megapacks shown in the drone footage could provide over 1.3 gigawatt-hours of energy, or enough to power a city of more than a million households for an hour.

And it will only ramp up from here. As Teslarati explained, the Lathrop Megafactory has a capacity of 10,000 units per year, with another 10,000-unit factory soon to open in Shanghai.

During Tesla’s third-quarter earnings call, CEO Elon Musk said, per Teslarati, that “the Energy division is becoming [Tesla’s] highest-margin business” and added that Tesla “energy and service now contribute over half a billion to quarterly profit.”

Those batteries are being incorporated into grid upgrades around the globe. The Oberon Solar + Storage project in California relies on Megapacks to hold the clean energy it’s generating, and Victoria, Australia, plans to use Megapacks for one of the world’s largest battery projects.

That’s important because affordable and clean methods for generating energy, including solar and wind, don’t create electricity on demand. They generate power when conditions are right, like when the sun is up or the wind is blowing. To switch from expensive and polluting fuel sources such as coal to ones that cost consumers less and keep the planet clean, we need lots of battery storage — and Tesla has positioned itself perfectly to provide it.

“I heard somewhere that Tesla energy growth has been pretty good,” one commenter said. “I’m thinking 2024 will be an incredible year.”

[WeTheMarket]

JB, in my opinion, their biggest weakness is the inherently low power density of the technology. A regular size shipping container can only deliver 400kWh (Source https://21814608.fs1.hubspotusercontent-na1.net/hubfs/21814608/2024-01-ESS-EnergyWarehouse-datasheet-rev6.pdf). Other specs are great, but low power density limits the potential applications. I also wonder how they operate in very cold winter climates, that may further limit applications.