ESS Tech (GWH) provided a business update and the continued execution of its strategic plan focused around the Energy Base product. Previously, ESS announced the potential need to take certain workforce actions in the event it was unable to raise capital to enable the Company to avoid or postpone a shutdown. ESS subsequently received sufficient capital not anticipated in the ordinary course of business to continue operations at its Wilsonville facility in the near term, though it will still undertake actions to judiciously manage its operating expenses. “I am pleased to report this important development and the continuation of our strategic pivot and delivery of a scalable Energy Base solution manufactured here in the United States to support unprecedented growth in energy demand and the critical need for grid reliability and resiliency,” said Kelly Goodman, Interim CEO of ESS.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GWH:
- ESS Tech Faces Financing Challenges Amid WARN Notices
- Ess Tech’s Earnings Call: Mixed Sentiments and Strategic Shifts
- ESS Tech’s Hold Rating: Balancing Growth Opportunities with Financial Uncertainties
- ESS Tech price target lowered to $2.50 from $3 at Roth Capital
- ESS Tech, Inc. Reports Q1 2025 Financial Results