Launch of Energy Base Platform
ESS announced a 50-megawatt-hour Energy Base pilot project with Salt River Project, marking the first commercial scale deployment of their next-generation Energy Base platform.
Successful Capital Raising
ESS completed a $40 million financing with Yorkville Advisors and launched a $75 million at-the-market equity program, reinforcing their balance sheet and providing flexibility for future growth.
Strategic Partnerships and Customer Engagement
ESS has built strong relationships with Tier 1 customers including SB Energy, Honeywell, Portland General Electric, and Sacramento Municipal Utility District, validating their technology's readiness for real-world deployments.
Operational and Financial Improvements
The company reported continued cost control with operating expenses at $5.1 million and a focus on executing strategic plans with improved operational discipline and manufacturing capabilities.