Ess, Inc., a Portland, Oregon-based manufacturer of long-duration flow energy storage systems, raised $13m in Series B funding.
The round includes new investors led by global chemical industry leader BASF, as well as Cycle Capital Management, Presidio Partners Investment Management and InfraPartners Management and original investor Pangaea Ventures.
The new funding will be used to expand and automate the manufacturing process of the company’s iron flow battery, the Energy Warehouse™. The investment will enable 900 MWh per year production capacity.
Established in 2011 by Craig Evans, CEO, Ess Tech develops and manufactures long-duration Energy Warehouse (EW) all-iron flow battery for commercial and utility-scale energy storage applications requiring 4+ hours of flexible energy capacity and 20+ years of operating life with no capacity fade.
The EW utilizes iron, salt, and water for the electrolyte, to deliver an environmentally safe, long-life energy storage solution.
FinSMEs
12/12/2017