ESS TechNYSE: GWH

ESS Tech, Inc. (GWH) Q4 2023 Earnings Call Transcript

Honeywell joined an "A" list of significant investors in ESS Tech on September 25, 2023, buying $27.5 million of stock and prefunding sales commitments. After a brief 43% stock spike, the honeymoon was over and the stock is trading at 95 cents, a decrease of 32% from the close before the Honeywell announcement. Almost immediately after making this investment Honeywell restructured.  One wonders whether the deal would/could have been done post-restructuring.

The challenge of bringing down the cost of renewables is solved. The new challenge is managing all this cheap power with storage, software, and new transmission/distribution. Right now, LFP lithium batteries are tested, validated, and available in large quantities. They solve today's problems, but not tomorrow's, and bring a host of problems. What's needed is long-duration energy storage. There are many competing technologies, and we are in the pilot program stage.

A very well capitalized partner released details of investment in the storage solutions maker. It has amassed a double-digit percentage stake in its partner.

ESS is partnering with Honeywell to advance its iron flow battery tech. If the tech works as planned, it could help utilities store renewable energy for when it's needed.

Honeywell (NYSE:HON) has invested in ESS Tech as part of a strategic collaboration with the energy technology company to advance the development and commercialization of iron flow battery (IFB) energy storage systems. The company said in a statement that the strategic collaboration brings together Honeywell (NYSE:HON)'s experience in advanced materials and energy systems with ESS' patented IFB design with the aim of tapping into growing global demand for long-duration energy storage solutions.

ESS Tech, Inc. (NYSE:GWH ) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Erik Bylin - Head-Investor Relations Eric Dresselhuys - Chief Executive Officer Tony Rabb - Chief Financial Officer Conference Call Participants Thomas Boyes - TD Cowen Colin Rusch - Oppenheimer Corinne Blanchard - Deutsche Bank Davis Sunderland - Baird Operator Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode.

Stem's (STEM) AI solutions optimize Hungary's largest solar power plant, reducing gas reliance and boosting renewables. This reflects on its strong product portfolio and expanding clientele.

Eric Dresselhuys, the CEO of ESS, discusses the company's iron flow battery system.