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.
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.
Gravity-based energy storage technology company Energy Vault has formed a strategic partnership with non-ferrous metals smelting and refinery company Korea Zinc, including a US$50 million investment commitment.
A framework agreement for the deployment of 2GWh of iron electrolyte flow batteries has been signed between manufacturer ESS Inc and SB Energy, the clean energy arm of Japanese telecoms giant Softbank.
Fluence’s initial public offering (IPO) and NASDAQ Global Select Market listing could be a “landmark” event that opens doors for the energy storage and renewable energy industries, a clean energy finance expert has said.