More Money Flows to Flow Batteries: ESS Nabs $13 Million Funding Round
More Money Flows to Flow Batteries: ESS Nabs $13 Million Funding Round
New funding could help ESS bring annual battery output to 900 megawatt-hours.
Photo Credit: ESS
Iron flow battery maker ESS raised $13 million in a Series B round, expanding the pool of cash available to upstart alternativestoragecompanies.
The money will go to automate and expand the manufacturing facilities where the Oregon company makes its containerized long-duration storage product, the Energy Warehouse. If all goes according to plan, the improvements will raise the six-year-old company’s annual output to 900 megawatt-hours.
That’s significant for the small field of long-duration contenders challenging lithium-ion’s dominance in the energy industry today.
Flow battery makers like ESS tout the relative safety of their ingredients compared to lithium-ion, with its flammability and rare earth metals. The alternative chemistries also provide long-duration storage, maintaining high levels of discharge well beyond the 4-hour mark typical of lithium-ion systems today.
The challenge is that little market opportunity exists for 8 hours of storage, and customers and investors tend to be leery of a technology that’s even newer and more exotic than the mainstream batteries.
