Ess Tech, Inc. ( (GWH) ) has released its Q1 earnings. Here is a breakdown of the information Ess Tech, Inc. presented to its investors.
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ESS Tech, Inc. is a leading manufacturer of long-duration energy storage systems for commercial and utility-scale applications, utilizing iron flow technology to provide sustainable energy solutions.
In its first quarter of 2025, ESS Tech, Inc. reported significant commercial activity driven by the launch of its Energy Base product, despite facing challenges in the capital markets. The company announced a 50 MWh project with an Arizona utility and highlighted its strategic pivot to support liquidity and capital raising efforts.
Key financial metrics for the quarter included revenue of $0.6 million, primarily from Energy Center deliveries and project activity for a Florida utility. The company also noted a substantial increase in proposal activity, with submissions totaling approximately 1.2 GWh, valued at $400 million. ESS is actively engaging with large project financing and development partners to secure capital opportunities.
Despite a net loss of $18.0 million for the quarter, ESS Tech, Inc. is focused on extending its operational runway and leveraging its ‘Made in the USA’ batteries to navigate tariff volatility. The company’s global fleet is nearing 2.5 GWh of transacted energy, showcasing its growing presence in the energy storage market.
Looking ahead, ESS Tech, Inc. remains committed to its strategic initiatives and is optimistic about its ability to manage costs and capitalize on market opportunities, while continuing to drive decarbonization through its innovative energy storage solutions.