US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has reaffirmed revenue guidance and expects to achieve a positive contribution margin this year.
Stem Inc has reaffirmed guidance of positive adjusted EBITDA for 2024, despite starting the year with a 62% year-on-year decrease in reported revenues and a fall in bookings.
Eos Energy Enterprises, ESS Inc and Energy Vault have increased their revenues and narrowed losses, according to financial results from the three ‘non-lithium’ energy storage companies.
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.
Gravity and kinetic energy storage startup Energy Vault and ‘thermal pumped hydro’ startup Malta Inc have both said this week that their technologies could be set for gigawatt-hour scale deployments.
