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.

Over the past couple of weeks, various flow battery makers have touted new sales and supply chain agreements as the fledgling sector fights for a share of the stationary energy storage market.

A Tesla spokeswoman has confirmed that the company’s current undertaking to build a 129MWh battery storage facility will not use long-time supplier and partner Panasonic’s lithium-ion cells.