ESS Tech Inc. introduced it has acquired the mental property and property of VoltStorage GMbH, a German iron-salt battery expertise firm. VoltStorage recently wound down operations after a decade in enterprise.
This acquisition provides VoltStorage’s portfolio of patents and technical growth work to ESS’s present mental property base. By means of the transaction, ESS additionally features entry to expert personnel with deep electrochemistry, supplies science and expertise growth background. ESS believes the mixed capabilities will speed up strategic progress, broaden market attain, and place the corporate on the forefront of long-duration power storage options.
“This acquisition accelerates our mission to offer clear, dependable, and inexpensive power storage options worldwide,” mentioned Drew Buckley, CEO of ESS. “By combining many years of iron move battery experience throughout two firms at ESS, we’re accelerating innovation to create essentially the most superior iron-salt battery platform for long-duration storage.”
ESS produces long-duration energy storage systems at its manufacturing web site in Oregon. If not for an sudden monetary enhance, ESS would have been forced to close its operations final summer time. Issues have improved sufficient to amass IP and enhance worldwide deployment choices.
Trending Merchandise
