Tesla energy storage division saw its highest quarterly gross profits as the company’s automotive business continued to see dampened demand.

LG Energy Solution (LG ES) will nearly double the production capacity of battery cells for energy storage systems (ESS) at its Michigan, US, factory by the end of 2026.

Flow battery energy storage manufacturer ESS Inc. could achieve profitability “in the next few years,” if its new product is a success, the company’s CFO has said.

The battery storage arm of Canadian Solar expects to make between 7GWh and 9GWh of shipments this year, with the final figure dependent on trade policy developments.

A news roundup focusing on Q1 financial results from Eos and Ormat with news of a rebrand from Hecate Grid, now Fullmark Energy.

US grid-scale energy storage solutions provider Energy Vault claimed its diversification into new geographies and business models “shielded” its backlog from tariff risk.

Uncertainty over trade tariffs has caused Fluence to lower its revenue and EBITDA guidance, although CEO Julian Nebreda said the company is “optimistic about the future of energy storage.”

Stem Inc. had a profitable Q1, as pivot away from battery storage hardware into energy storage and solar software and services continues. 

Tesla’s energy storage business continued to grow in Q1 2025 even as profits and vehicle sales fell, but faces greater exposure to trade tariff risks than its automotive segment.

Charlotte Gisbourne, market analyst at PV Tech Research discusses trends and movements in the Q1 2025 edition of the EnergyStorageTech Bankability Ratings report.