GWH News & Events

ESS Tech announced the execution of a $9.9M contract with Concurrent Technologies Corporation and the United States Air Force Research Laboratory for a large capacity energy storage system at the U.S. Clear Space Force Station in Alaska. Under the contract, ESS will deploy up to 27 MWh of its American-made iron flow battery systems to support operations at Clear Space Force Station. "This project is a significant validation of ESS battery technology and its ability to provide reliable energy every day and support grid resiliency when it matters most," said Drew Buckley, CEO of ESS. "The Department of Defense is actively seeking long duration resilient microgrids to improve readiness, with a keen interest in 'Made in USA' software and systems to reduce risk of foreign cyber security vulnerabilities. We believe this award will further unlock long duration storage opportunities with the DoD and the growing microgrid market."

ESS Tech announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $15M of shares of common stock and pre-funded warrants at a price of $1.75 per share of common stock, which price is a premium to the closing price on January 28. The offering consists of the sale of 8,571,428 shares of common stock. The public offering price per share is $1.75. The pre-funded warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each pre-funded warrant sold in the offering, the number of shares of common stock in the offering will be decreased on a one-for-one basis. Aggregate gross proceeds to the company are expected to be approximately $15M. The transaction is expected to close on or about January 30, subject to the satisfaction of customary closing conditions. The company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. is acting as exclusive placement agent for the offering.

ESS Tech announced the board of directors has appointed Drew Buckley as CEO, effective January 1, succeeding interim CEO Kelly Goodman. In addition, the board appointed Kelly Goodman as chief strategy officer and general counsel. The board also appointed Kate Suhadolnik as CFO from her current role as interim CFO. Buckley joined ESS in August 2025 to lead the company's investor relations and capital market strategy.

Reports Q3 revenue $214,000 vs $359,000 last year. "We've built strong momentum over the course of 2025," said Kelly Goodman, Interim Chief Executive Officer of ESS. "With key customer programs underway and new capital secured, our focus is now squarely on execution-delivering the Energy Base platform and demonstrating the performance and reliability that customers are demanding. Our technology is well-positioned to support the fast-growing digital infrastructure sector, where long-duration storage is essential to enabling a resilient, decarbonized grid."