ESS Tech Raises $15M in Premium Offering to Boost Energy Storage Innovation

ESS Tech (NYSE: GWH), a leading manufacturer of long-duration iron flow energy storage solutions, has successfully closed a significant registered direct offering with institutional investors, raising approximately $15 million in capital. The transaction, which occurred on January 30, 2026, involved the sale of 8,571,428 shares of common stock and pre-funded warrants at a premium price of $1.75 per share, representing a notable premium to the company's closing price on January 28, 2026. Aegis Capital Corp. served as the exclusive placement agent for this offering, demonstrating institutional confidence in ESS Tech's financial prospects and strategic direction. The company plans to use the net proceeds, combined with existing cash reserves, for general corporate purposes and working capital, positioning itself for continued growth and innovation in the competitive energy storage market.

Founded in 2011 with a mission to accelerate decarbonization through sustainable energy storage, ESS Tech specializes in iron flow technology that utilizes readily available materials like iron, salt, and water to create long-duration storage solutions. This technology enables enhanced energy security, reliability, and resilience for customers seeking to meet increasing energy demands without power disruptions while maximizing the value of excess energy production. The company's innovative approach addresses critical challenges in renewable energy integration and grid stability, making it a key player in the global transition toward cleaner energy systems. For more detailed information about this development, readers can view the full press release through the provided link.

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