Energy Startup Closes $13 Million
ESS Inc. secured $13 million in Series B financing, led by BASF Venture Capital America. Cycle Capital, Presidio Partners, Pangaea Ventures, and InfraPartners Management also participated in the funding.
ESS Inc. manufactures low-cost, long-duration, all-iron redox flow batteries for commercial and utility-scale energy storage applications requiring more than four hours of flexible energy capacity. Its product Energy Warehouse uses iron, salt, and water for the electrolyte, and delivers an environmentally safe, long-life energy storage solution for the world’s renewable energy infrastructure.
The new funding will be used to expand and automate the manufacturing process of ESS’ iron flow battery and the energy warehouse.