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.

Delays in the growth of Britain’s battery storage sector helped boost Gresham House Energy Storage Fund’s portfolio performance.

NHOA’s energy storage business accounted for the vast majority of the company’s €165.7 million reported revenues in 2022.

Canadian Solar doubled its energy storage shipments to 1.79GWh in 2022 although expects significant lower growth in 2023 due to transitioning its utility-scale product.

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.