The four most high-profile energy storage system (ESS) companies that listed via SPAC mergers – Eos, Energy Vault, ESS Inc and Stem – have seen their share prices fall by an average of 80% since going public.

Startup Kyoto Group has begun operational testing of a 4MW molten salt-based power-to-heat system in Denmark.

Kraftblock, a thermal energy storage startup based in Germany, and Australia’s MGA Thermal have secured funding to accelerate their technologies’ scale-up and commercialisation.

ESS Inc has improved ability to recognise revenues and reduced direct costs of production of its flagship product by 30% in Q2 2023.

US DOE Loan Programs Office has invited Nostromo into due diligence and terms sheet negotiations for a loan worth up to US$176 million.

Zinc battery firm Eos Energy Enterprises has responded to a short seller note which saw its share price nearly halve on Thursday last week.

Energy Vault has started commissioning its first commercial EVx gravity energy storage project in Rudong, China.

Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.

Drax Group has secured development consent for a 600MW underground pumped storage hydro (PSH) plant in Scotland, UK.

More news in brief from around the world in energy storage, featuring vanadium redox flow batteries (VRFBs), bankruptcy for a thermal storage startup and a new integrated lithium tech.