Monday, September 25, 2023 12:48:57 PM
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 +1-848-280-6390. 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
Recent GWH News
- ESS Inc. Schedules First Quarter 2024 Financial Results Conference Call • Business Wire • 04/24/2024 08:05:00 PM
- ESS’ Energy Center is First LDES Solution to Receive IEEE 693 Rating Demonstrating Resilience Against Seismic Events • Business Wire • 03/25/2024 01:00:00 PM
- ESS Tech, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results • Business Wire • 03/13/2024 08:05:00 PM
- Mixed Futures Amidst Quiet Economic Schedule; Oil Prices Climb • IH Market News • 03/13/2024 11:03:39 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 09:32:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:57:55 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 02/16/2024 09:43:13 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:15:30 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/09/2024 10:07:37 PM
- ESS Inc. Schedules Fourth Quarter and Full Year 2023 Financial Results Conference Call • Business Wire • 02/06/2024 09:05:00 PM
- ESS Expands Deployment Footprint in California, Commissions New Project and Advances Energy Center Product Line • Business Wire • 01/17/2024 02:00:00 PM
- ESS Technology to Demonstrate Value of Long-Duration Energy Storage in Military Applications • Business Wire • 01/15/2024 02:00:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 12/15/2023 09:44:32 PM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 12/07/2023 09:22:05 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/14/2023 09:01:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/07/2023 09:08:25 PM
- ESS Tech, Inc. Announces Third Quarter 2023 Financial Results • Business Wire • 11/07/2023 09:05:00 PM
- ESS Inc. Schedules Third Quarter 2023 Financial Results Conference Call • Business Wire • 10/25/2023 01:00:00 PM
- Tuesday’s Wall Street Highlights: Ford Motor, Coty, JPMorgan, Merck, Tesla, AIG, and more • IH Market News • 09/26/2023 11:34:27 AM
- ESS Tech Shares Rally on Honeywell Investment, Collaboration • Dow Jones News • 09/25/2023 02:41:00 PM
- Honeywell Invests in ESS Tech as Part of Energy-Storage Collaboration • Dow Jones News • 09/25/2023 11:28:00 AM
- Honeywell and ESS Tech, Inc. Collaborate to Accelerate Commercial Deployment of Iron Flow Battery Energy Storage Systems • Business Wire • 09/25/2023 10:30:00 AM
- ESS Recognized as Leading American Clean Technology Exporter by U.S. Department of Commerce • Business Wire • 09/13/2023 10:00:00 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM