ESS' Australian Partner Raises AU$65 Million In Public And Private Funds To Accelerate Iron Flow Deployments; Investment Will Support Achievement Of Energy Storage Industries, Asia Pacific's 400MW Annual Iron Flow Battery Production Target Using ESS Technology
Portfolio Pulse from Benzinga Newsdesk
ESS Tech, Inc.'s Australian partner, Energy Storage Industries – Asia Pacific, has raised AU$65 million to accelerate iron flow battery deployments. This investment supports ESI's 400MW annual production target using ESS technology, with core components manufactured by ESS in the US.
September 24, 2024 | 1:16 pm
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ESS Tech, Inc. (NYSE:GWH) benefits from its partner ESI's AU$65 million funding to enhance iron flow battery production, potentially increasing demand for ESS's core components.
The investment in ESI directly supports the production of iron flow batteries using ESS technology, likely increasing demand for ESS's core components. This could positively impact ESS's revenues and market position in the energy storage sector.
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