LG Energy Solution has seen a drop in its profitability which according to the company’s CFO was largely caused by industry headwinds.

Analyst Oliver Forsyth from IHS Markit explains exactly how things are changing in BESS system integration.

Eos Energy Enterprises’ leadership has claimed gross positive margins can be achieved in a year and a half. 

Industry-watchers will closely follow how the recently completed acquisition of energy storage system integrator NEC ES by LG Energy Solution pans out.

ESS Inc’s recent special purpose acquisition company (SPAC) merger, which listed the iron flow battery manufacturer’s shares and warrants on the New York Stock Exchange, has raised US$246 million cash.

TWAICE, a German battery analytics software company founded in 2018 which already counts Audi and Daimler as well as European energy utility companies amongst its customers, has raised US$26 million in a Series B funding round.

Stem Inc has revealed its financial results for 2020 ahead of listing on the New York Stock Exchange, admitting that despite expecting a fourfold increase in revenues this year, the company is unlikely to achieve profitability until at least the end of next year.

There are seven utility-scale energy storage system integrator companies that currently lead a global market poised for significant expansion, with Fluence and Tesla currently competing for the top spot, according to a new industry ranking report from Guidehouse Insights.

Tesla has come under fire for its employment practices once more, with reports of discrimination complaints laying bare worries over profitability at the firm’s very top.