ESS Inc., a Portland, Ore.-based manufacturer of energy storage systems, secured $30m in Series C funding.
The round was led by Breakthrough Energy Ventures and SoftBank Group’s SB Energy, with participation from new investors Evergy Ventures and Southeast Asia-based chemical company PTT Global Chemical (GC), and earlier backers BASF Venture Capital, Cycle Capital Management, Presidio Partners Investment Management, IPM Group, and Pangaea Ventures.
The company intends to use the funds to expand and automate the manufacturing process of its second-generation iron flow battery technology.
Established in 2011 and led by Craig Evans, CEO, Ess develops and manufactures the Energy Warehouse™ (EW) flow battery and battery-in-a-building platform, the Energy Center™ (EC). The EW is deployed in commercial and utility-scale energy storage applications requiring 4+ hours of flexible energy capacity and 20+ years of operating life with no capacity fade.
The company is now shipping to customers on four continents.