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Ess In Deal With California Utility As Energy Storage Systems Head Down Under

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usa@renishaw.com recognition have lagged expectations.

Investors will be watching closely for signs of progress on March 1 when ESS delivers its quarterly results. In its last report, the company cited parts shortages as a constraint. CEO Eric Dresselhuys said then the company thought it could ship “20 or more” Energy Warehouses in the fourth quarter.

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ESS stock has been stuck in the $2-$3 range for months, off more than 70% from its opening price.

Iron-based flow battery

ESS Inc. (NYSE: GWH) revealed a two-unit deal with a California utility this week, and an Australian customer said 10 of the Wilsonville company’s Energy Warehouse systems were on their way Down Under, with more to follow.

ESS is the long-duration energy storage company founded locally more than a decade ago that went public in fall 2021 through a SPAC merger, raising around $250 million. The company has reported progress in building out itsWilsonville production capacity, but deliveries and revenue

ESS makes a unique iron-based flow battery that it bills as a better alternative to widely deployed lithium-ion batteries, especially for longerduration output — from six to 12 hours instead of the one to 4 hours conventional batteries provide.

The California deal announced this week was with the Turlock Irrigation District, a Central Valley water and power utility.The Energy Warehouse systems will be paired with a pilot project that will see solar panels installed over irrigation canals.

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