ESS Tech Appoints Drew Buckley as CEO Effective January 1, 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 06 2026
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Source: NASDAQ.COM
- Leadership Change: ESS Tech has appointed Drew Buckley as CEO effective January 1, 2026, succeeding Interim CEO Kelly Goodman, aiming to leverage Buckley's extensive experience to drive the company's strategic development.
- Strategic Restructuring: Kelly Goodman is now Chief Strategy Officer and General Counsel, indicating a strategic restructuring at the executive level to enhance the management team's expertise and market responsiveness.
- Financial Leadership Transition: Kate Suhadolnik has been promoted from Interim CFO to CFO, ensuring continuity and stability in financial management to support the company's future financial strategies and capital operations.
- Experience Background: Drew Buckley brings nearly two decades of experience focused on investing in small- and mid-cap technology companies, and is expected to utilize his expertise in capital markets to enhance ESS Tech's investor relations and market strategy.
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Analyst Views on GWH
Wall Street analysts forecast GWH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GWH is 3.50 USD with a low forecast of 3.50 USD and a high forecast of 3.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.710
Low
3.50
Averages
3.50
High
3.50
Current: 1.710
Low
3.50
Averages
3.50
High
3.50
About GWH
ESS Tech, Inc. is a long-duration energy storage company specializing in iron flow battery technology. The Company designs and produces long-duration batteries using earth-abundant materials. Its batteries provide flexibility to grid operators and energy assurance for commercial and industrial customers. Its technology addresses energy delivery, duration, and cycle-life in a single battery platform that compares favorably to lithium-ion batteries. Using its iron flow battery technology, the Company is developing two products, such as the Energy Warehouse and Energy Center. Energy Center solutions are designed specifically for utilities, independent power producers (IPPs), and large commercial and industrial consumers. The Company’s batteries are non-flammable and non-toxic and can operate in a wide range of temperatures from -15 degrees Celsius (C) to 50 degrees C with minimal auxiliary loads.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ESS Secures $9.9 Million Contract with U.S. Air Force for Energy Storage System
- Contract Value: ESS has signed a $9.9 million contract with the U.S. Air Force Research Laboratory to deploy 27 MWh of iron flow battery systems at the Clear Space Force Station in Alaska, showcasing the company's strong position in military energy storage.
- Technology Application: This project aims to demonstrate emerging advanced energy storage technologies, with ESS's iron flow batteries providing reliable power in extreme conditions (below -40°C), enhancing the company's competitiveness in the military market by ensuring continuous operation of critical missions.
- Market Potential: As the Department of Defense seeks long-duration resilient microgrids, ESS's technology is seen as key to reducing cybersecurity risks, which is expected to unlock further long-term storage opportunities with the DoD and drive future growth for the company.
- Strategic Partnership: The collaboration with Concurrent Technologies Corporation will enhance the stability of power supply at the Clear Space Force Station, ensuring rapid recovery during grid instability, reflecting the strategic importance of ESS in critical infrastructure sectors.
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ESS Tech Announces $15 Million Direct Offering
- Financing Size: ESS Tech has entered into agreements with institutional investors for a direct offering of approximately $15 million, priced at $1.75 per share, reflecting market confidence in the company's future prospects as it exceeds the closing price on January 28, 2026.
- Share Count: The offering consists of 8,571,428 shares of Common Stock or Pre-Funded Warrants, with the latter being immediately exercisable, which is expected to provide the company with ample liquidity to support its operations and growth.
- Use of Proceeds: The company plans to utilize the net proceeds from this offering, combined with existing cash, for general corporate purposes and working capital, aiming to enhance its competitiveness in the long-duration energy storage market.
- Transaction Arrangement: The transaction is expected to close on or about January 30, 2026, subject to customary closing conditions, with Aegis Capital Corp. acting as the exclusive placement agent to ensure the smooth execution of the deal.
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