Energy storage and energy management solutions provider Electriq Power has completed a special purpose acquisition company (SPAC) merger.

Energy Vault has got its New York Stock Exchange (NYSE) listing after the gravity-based energy storage company’s merger with special purpose acquisition company (SPAC) Novus Capital Corporation II completed. 

US$137.4 million worth of customer orders have been booked so far this year by Eos Energy Enterprises and the zinc hybrid cathode battery storage company said that figure could reach US$300 million by the end of 2021.

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.

The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.

Stem Inc is set to be publicly-listed and expand its global reach through a deal worth as much as US$608 million, agreed with special purpose acquisition company Star Peak Energy Transition Corp.

While lithium-ion continues to dominate big project announcements worldwide, three providers of long-duration non-lithium battery technologies have claimed various milestones in commercialisation.