$GWH

2 stories mentioning GWHUpdated 33d ago

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ESS Tech Reports $3.2 Million Registered Direct Offering

ESS Tech (GWH) said Thursday it has struck a deal to sell 6.4 million shares at $0.50 apiece to institutional investors, with Roth Capital Partners as placement agent.The company said it will also issue warrants to purchase up to 12.8 million shares to the investors. The warrants have an exercise price of $0.50 per share.ESS said it plans to use the net proceeds for corporate purposes and working capital. It expects to close the offering Aug. 21.Shares were down over 12% in afternoon trading.Price: $0.60, Change: $-0.09, Percent Change: -12.46%

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Commodities145d ago

Battery Maker ESS Take to Feature Alsym-Produced Sodium-Ion Cells in BESS Product Portfolio

Battery energy storage manufacturer ESS Tech (GWH) has agreed to add 8.5 gigawatt-hours of non-flammable sodium-ion cells and modules to its product portfolio, produced by Alsym, which it described as a pioneer in that battery chemistry.The system is designed as a substitute for lithium-ion batteries and for use cases that lithium-ion cannot satisfy, but without fire-causing thermal run-away risks.The partnership also marks ESS's entry into short and medium duration battery energy storage systems or BESS, where lithium chemistries are currently dominant, in addition to ESS's presence in long-duration storage.ESS said the Alsym sodium-ion product has almost no thermal runaway risk and lowers total cost of ownership. It also operates without the need for complex HVAC systems and has fast charge and discharge capabilities.

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