What is ESS Inc?
ESS Inc. is dedicated to designing and manufacturing long-duration energy storage systems based on iron flow battery technology. These systems are engineered to store excess renewable energy and deploy it precisely when needed, thereby enhancing grid stability and ensuring a continuous power supply for utilities, commercial entities, and industrial operations. The company's commitment to safe, environmentally friendly systems built from readily available materials supports the global shift towards renewable energy sources. ESS Inc. offers flexible, scalable storage platforms and integrated solutions aimed at improving energy resilience and operational efficiency across diverse applications.
How much funding has ESS Inc raised?
ESS Inc has raised a total of $88.3M across 10 funding rounds:
Unspecified
$493K
Series A
$3.2M
Series B
$13M
Series C
$30M
Debt
$350K
Private Equity
$23M
Unspecified
$17M
Debt
$900K
Unspecified (2013): $493K supported by NYSERDA
Series A (2015): $3.2M featuring Element 8 and Pangaea Ventures
Series B (2017): $13M backed by BASF, Panagea Ventures, InfraPartners Management, and Cycle Capital Management
Series C (2019): $30M with participation from Softbank Group, Evergy Ventures, Breakthrough Energy, and PTT Global Chemical
Debt (2020): $350K led by PPP
Unspecified (2024): $17M supported by Queensland Government
Private Equity (2024): $23M, investors not publicly disclosed
Debt (2025): $900K, investors not publicly disclosed
Key Investors in ESS Inc
BASF
BASF is a global leader in the chemical industry, known for its innovation and sustainability. The company develops high-performance solutions across various sectors and integrates environmental responsibility into its business practices.
Panagea Ventures
Pangaea Ventures is a venture capital firm specializing in hard tech, focusing on investments in start-ups that use advancements in materials, chemistry, and biology to solve global challenges, driving industrial transformation and sustainability.
NYSERDA
NYSERDA, the New York State Energy Research and Development Authority, supports clean energy technology and innovation, playing a crucial role in advancing the state's energy goals and promoting sustainable energy solutions.
What's next for ESS Inc?
With the recent influx of major strategic investment and substantial enterprise-level funding, ESS Inc. is poised for accelerated growth and market expansion. This capital infusion is expected to bolster its manufacturing capabilities, further research and development into its iron flow battery technology, and strengthen its market penetration. The company's focus on enhancing grid stability and enabling the widespread adoption of renewable energy positions it favorably to capitalize on the increasing global demand for sustainable energy storage solutions. ESS Inc.'s strategic financing rounds indicate a strong investor confidence in its technology and its potential to address critical energy challenges.
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