Microvast is receiving more purchase orders from the US energy storage market than it can produce, the battery cell, pack and energy storage system manufacturer has said.

Energy storage system and services firm Stem Inc grew revenues to US$93 million in the second quarter of 2023, and reduced its EBITDA loss by 15% to US$8.5 milllion.

Ameresco will look for energy storage projects to own that the US clean energy solutions company can secure long-term revenues for.

NHOA Energy’s EBITDA for H1 2023 dropped by 38.8% year-on-year to €1.11 million (US$1.23 million) but the company expected the EBITDA for 2023 to reach up to €10 million.

At look at the fortunes, prospects and claims made by three energy storage technology firms that joined the SPAC-driven public listing wave.

Vistra Energy’s expansion of the world’s largest battery storage facility is due for completion this summer.

Stem Inc is on track to meet its target of achieving positive EBITDA during 2023, the company claimed as it posted a 63% year-on-year quarterly revenue increase in its latest financial results.

NHOA is on track to achieve a targeted 10x growth in its business, but will require funds from its parent company to complete the task.

LG Energy Solution sees lithium iron phosphate (LFP) battery production to meet demand for stationary energy storage systems (ESS) in the US market as a “new growth engine” for the South Korean manufacturer.

Tesla has recorded its highest storage deployments to date in the first quarter of 2023, enabled by ramp up of its factory in California.