ESS Tech, Inc

Founded in 2011 by Craig E. Evans, Dr. Julia Song, chaired by Mr. Eric Dresselhuys as CEO, and based in Oregon, US, ESS Tech Inc.

also known as Energy Storage System Inc (ESS) is a provider of energy storage systems. From 2015, the company began shipping turnkey energy storage solutions that enabled companies and municipalities to control their energy future. The company manufactures low-cost and long-duration iron flow batteries for commercial and utility-scale energy storage applications requiring over 4 hours of flexible energy capacity. The company’s solutions are applicable for utility-scale, commercial, and industrial purposes, and microgrids, DERMS (distributed energy management systems), and VPPs (virtual power plants).

In 2021, ACON S2 Acquisition Corp. , a SPAC backed by ACON Investments, alongside BASF Venture Capital, Breakthrough Energy Ventures, Fidelity Investments, and SB Energy Corp. acquired ESS, Inc resulting in a merger between the SPAC and ESS, Inc. The transaction values the combined company at US$1.

07 billion while the deal will provide around US$465 million in net proceeds. ESS is valued at USD 1. 1 billion. The company’s technology involves iron flow chemistry and provides mature iron flow battery solutions for commercial and industrial customers, utilities, and the grid.

ESS Tech’s solutions include Energy Center™ and Energy Warehouse™. The ESS Energy Center™ is a battery-in-a-building platform that uses our second-generation power module to deliver capacities starting at 3 MW and storage durations ranging up to 12 hours while the ESS Energy Warehouse is a turn-key shipping-container-sized unit with a storage capacity of 400 kWh and storage durations of up to 12 hours, enabling microgrid operators to leverage renewable investments and shore up reliability. The company’s solutions are suited for utilities such as Shift PV and wind power, smooth renewable intermittency, augment or replace polluting peakers, ancillary services, and stabilizing microgrids and support virtual power plants; as well as for commercial and industrial applications to manage demand charges, leverage time-of-use rates, maximize solar investments, and enhance energy security. Post the merger, ESS, Inc.

will become a publicly listed company to be listed on the New York Stock Exchange under the ticker symbol, GWH. ESS, Inc. plans on utilizing funding to increase its manufacturing capacity globally and invest in extending its technology advantage while creating 16GWh of manufacturing capacity on three continents.