ESS Inc’s recent special purpose acquisition company (SPAC) merger, which listed the iron flow battery manufacturer’s shares and warrants on the New York Stock Exchange, has raised US$246 million cash.
US$137.4 million worth of customer orders have been booked so far this year by Eos Energy Enterprises and the zinc hybrid cathode battery storage company said that figure could reach US$300 million by the end of 2021.
A new joint venture (JV) is evaluating building battery cell gigafactories in the US, based on advanced lithium-ion technologies, formed by investor Koch Strategic Platforms and manufacturer FREYR Battery.
Eos Energy Enterprises, the NASDAQ-listed US manufacturer of zinc-based battery storage technology, has secured an equipment financing deal that will aid its efforts to increase manufacturing capacity.
US$100 million has been invested into North American lithium-ion battery recycling specialist Li-Cycle by a venture capital (VC) subsidiary of fossil fuels industry giant Koch Industries.
Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round.
Eos Energy Enterprises has a total order backlog for its zinc battery-based energy storage of 389MWh, worth nearly US$100 million, but expects to only be able to recognise US$5 million in revenues for 2021.
The cost of long-duration, grid-scale energy storage should be reduced 90% within this decade in order to accommodate the “hundreds of gigawatts of clean energy” needed, US Secretary of Energy Jennifer Granholm said yesterday.
