Why ESS Tech Shares Are Charging Up Today
Portfolio Pulse from Shivani Kumaresan
Honeywell International Inc (HON) has entered into a strategic collaboration with ESS Tech, Inc (GWH) to advance the development and market adoption of iron flow battery (IFB) energy storage systems. Honeywell has also invested in ESS Tech, though the financial terms were not disclosed. The global energy storage market is estimated to be $50 billion per year and is forecast to grow significantly with a cumulative investment of up to $3 trillion by 2040.
September 25, 2023 | 1:37 pm
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POSITIVE IMPACT
ESS Tech has entered into a strategic collaboration with Honeywell, which has also made an investment in the company. This could potentially boost ESS Tech's market position and financial stability.
The partnership and investment from Honeywell could potentially boost ESS Tech's market position and financial stability in the growing energy storage market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Honeywell has entered into a strategic collaboration with ESS Tech and made an investment in the company. This could potentially boost Honeywell's position in the energy storage market.
The partnership and investment in ESS Tech could potentially open up new opportunities for Honeywell in the growing energy storage market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80