ESS Tech Inc. Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter

Reuters

06-04

<a href="https://laohu8.com/S/GWH">ESS Tech Inc.</a> Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter

ESS Tech, Inc. has announced the closure of additional orders for its Energy Warehouse and Energy Center products as part of its inventory movement strategy. These transactions, which align with the company's pivot to a focused Energy Base product offering, include the first sale of a core component. While these orders will not involve additional cash payments, they will allow the company to recognize revenue of approximately $2.5 million and sell related Advanced Manufacturing Production Tax Credits valued at around $1 million. The company anticipates these revenues and PTC transactions to be recognized in the second quarter. Despite these developments, ESS Tech, Inc. continues to face cash flow challenges and is actively seeking additional funding to sustain operations, engaging with potential capital providers and exploring various financing options.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ESS Tech Inc published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-029215), on June 04, 2025, and is solely responsible for the information contained therein.

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Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      <a href=\"https://laohu8.com/S/GWH\">ESS Tech Inc.</a> Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        ESS Tech, Inc. has announced the closure of additional orders for its Energy Warehouse and Energy Center products as part of its inventory movement strategy. These transactions, which align with the company's pivot to a focused Energy Base product offering, include the first sale of a core component. 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Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-06-04 18:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      <a href=\"https://laohu8.com/S/GWH\">ESS Tech Inc.</a> Secures New Orders, Plans to Recognize $2.5M in Revenue This Quarter\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        ESS Tech, Inc. has announced the closure of additional orders for its Energy Warehouse and Energy Center products as part of its inventory movement strategy. These transactions, which align with the company's pivot to a focused Energy Base product offering, include the first sale of a core component. While these orders will not involve additional cash payments, they will allow the company to recognize revenue of approximately $2.5 million and sell related Advanced Manufacturing Production Tax Credits valued at around $1 million. The company anticipates these revenues and PTC transactions to be recognized in the second quarter. Despite these developments, ESS Tech, Inc. continues to face cash flow challenges and is actively seeking additional funding to sustain operations, engaging with potential capital providers and exploring various financing options.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ESS Tech Inc published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-029215), on June 04, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GWH","symbol_name":"ESS Tech Inc.","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250604:nNDL53NDdq:1","article_id":"2540054450","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2540054450","pubTimestamp":1749031348,"columns":[{"name":"财报速递","id":26,"label_key":"express"}],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"ESS Tech, Inc. has announced the closure of additional orders for its Energy Warehouse and Energy Center products as part of its inventory movement strategy. 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While these orders will not involve additional cash payments, they will allow the company to recognize revenue of approximately $2.5 million and sell related Advanced Manufacturing Production Tax Credits valued at around $1 million. The company anticipates these revenues and PTC transactions to be recognized in the second quarter. Despite these developments, ESS Tech, Inc. continues to face cash flow challenges and is actively seeking additional funding to sustain operations, engaging with potential capital providers and exploring various financing options.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ESS Tech Inc published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-029215), on June 04, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}