ESS Tech, Inc. (NYSE: GWH), a leading manufacturer of long-duration iron flow energy storage solutions, announced the closing of its previously disclosed registered direct offering with institutional investors, generating gross proceeds of approximately $15 million. The transaction involved the sale of 8,571,428 shares of common stock and pre-funded warrants at a price of $1.75 per share, which represented a premium to the Jan. 28, 2026 closing price. The offering closed on Jan. 30, 2026, with Aegis Capital Corp. acting as the exclusive placement agent.
The company expects to use the net proceeds, along with existing cash, for general corporate purposes and working capital. This capital infusion comes at a critical time as ESS Tech continues to scale its iron flow battery technology, which is designed for long-duration energy storage applications. Unlike lithium-ion batteries, ESS’s systems rely on iron, salt, and water – abundant and non-toxic materials – positioning the company as a sustainable alternative in the energy storage market.
The successful completion of this offering reflects institutional investor confidence in ESS’s technology and business model. The company’s iron flow batteries are gaining traction as utilities and large-scale energy users seek reliable, safe, and environmentally friendly storage solutions to manage renewable energy intermittency and grid stability. ESS’s mission to accelerate decarbonization aligns with global trends toward clean energy adoption, making this financing a strategic move to support ongoing operations and growth initiatives.
For more details, the full press release is available at https://ibn.fm/BUYEF. ESS Tech, founded in 2011 and headquartered in Wilsonville, Oregon, continues to expand its production capacity and customer base. The company’s iron flow technology offers a flexible storage solution that helps customers meet increasing energy demand without power disruptions while maximizing the value of excess energy.
This development underscores the growing importance of long-duration energy storage in the transition to a low-carbon economy. With this additional capital, ESS is better positioned to execute its business plan and capture market share in the rapidly evolving energy storage sector.
