Gravity-based energy storage company Energy Vault expects US$680 million in combined revenue over 2022 and 2023, it claimed in its recent quarterly results.

Stem Inc grew revenues 246% in quarter two 2022 and ended the period with a contracted backlog of US$727 million.

US geothermal energy company Ormat Technologies’ energy storage division achieved gross margin of 25.3% in Q2 2022.

Tesla deployed more than a gigawatt-hour of battery storage in Q2 2022, but the company has been impacted by component supply issues.

After falling by more than two-thirds in quarter one 2022, energy storage order intake increased 19% in quarter two for marine and energy solutions company Wärtsilä.

Energy Vault added US$191 million to existing cash reserves when it listed on the New York Stock Exchange.

Global system integrator Fluence increased its revenues for the first three months of 2022, its second quarter, 249% to US$343 million.

Iron flow battery company ESS Inc continues to await recognition of revenues, but has “strong confidence” in its trajectory towards profitability.

Eos Energy Enterprises added 65MWh of production capacity in the first quarter of this year.

‘Smart’ energy storage provider Stem finished the first quarter of 2022 with an order backlog worth in excess of a half-billion dollars.