US system integrator Stem Inc has seen its share price fall by over 40% after its financial results for the second quarter of the year, which saw falling sales, bookings and a huge net loss.
Delays in product development, high commodity prices and investors pulling out were behind some of the most recent bankruptcies in the ESS battery technology space, which include Nilar, AMTE and Ambri.
The Council of Menorca, one of Spain’s Balaeric islands, has detailed its energy transition plan for the next four years including 18MWh of distributed battery energy storage systems (BESS).
Energy Vault and a coal mining company owned by the local government in Sardinia, Italy, have signed a land lease agreement to deploy a project combining gravity energy storage and BESS technology.
A roundup of battery energy storage system (BESS) news from the UK, with Harmony Energy Income Trust (HEIT) commissioning a system, Field ordering one from Envision and Quinbrook launching construction on another.
A double-header of news from Central America and the Caribbean, with Belize seeking consultants for a 40MW BESS and Wärtsilä commissioning a hybrid project in the US Virgin Islands.
While contractual parties are rarely ironing out end-of-life provisions for BESS, those that do are keeping their options open with the future value of degraded batteries far from clear, a UK-based lawyer said.
