Energy Vault has confirmed its increased guidance for 2022, posting US$146 million in revenue of which two-thirds came in Q4.

ESS Inc ended 2022 with nearly 800MWh of annual production capacity for its iron flow battery, although had a relatively poor last financial quarter with just US$15,000 in revenue.

Zinc battery firm Eos Energy Enterprises had a disappointing Q4 2022 with revenue falling both year-on-year and quarter-on-quarter, although its orders booked and order backlog continue to grow strongly.

Stem Inc has posted close to a 200% increase in revenues in both its fourth quarter and full-year financial results for 2022.

Global battery storage system integrator Fluence grew revenues 78% and doubled its gross profit margin in October-December 2022, its first financial quarter under the helm of new CEO Julian Nebreda.

Energy storage and electric mobility solutions provider NHOA increased revenues from energy storage tenfold year-on-year from 2021 to 2022.

Energy storage deployments by electric carmaker and tech company Tesla grew 64% year-on-year, reaching 6.5GWh in 2022.

Energy Vault is expecting full-year revenue for 2022 of US$142-152 million, ahead of previous guidance of US$75-100 million.

Despite macroeconomic challenges, Gore Street’s asset value surged 45% over six months as ancillary service revenues stayed strong.

Fluence said the company is on track to grow revenues by almost a third on “multi-year” basis, leading to breakeven EBITDA in 2024.