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Jun 30, 2023
ESS Tech Q2 2023 Earnings Report
Achieved record revenue and delivered Energy Warehouses to four new customers, also announced partnership with LEAG.
Key Takeaways
ESS Tech, Inc. reported record revenue of $2.8 million in Q2 2023, driven by significant improvements in internal operations and manufacturing efficiency. The company delivered nine Energy Warehouses to four new customers and entered into a strategic partnership with LEAG.
Recognized $2.8 million in revenue and shipped nine Energy Warehouses™ in the second quarter.
Entered into a strategic partnership with LEAG, a major German energy provider, to build a 500 MWh iron flow battery system.
Began shipments for the first phase of ESS’ relationship with Sacramento Municipal Utility District (SMUD), to support SMUD’s 2030 Zero Carbon Plan.
ESS Energy Warehouse units received certification to the Underwriters Laboratories’ (UL) 9540 standard.
Forward Guidance
ESS expects revenue for the next two quarters to continue at approximately the same rate as the second quarter.
Historical Earnings Impact
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