Update: ESS Tech Shares Climb Following 10-Year Supply Deal With Salt River Project
MT Newswires Live
Oct 11
(Updates with the latest stock movement in the first paragraph and headline.)
ESS Tech (GWH) shares were up nearly 129% in recent Friday trading after the company said it signed a new iron flow battery pilot to deliver power under a 10-year agreement with Salt River Project.
The agreement involves adding a 5-megawatt, 50 megawatt-hour battery system to the grid, the parties said late Thursday.
The Iron Flow Battery project aims to evaluate the performance of non-lithium, long-duration energy storage in the Arizona climate. The pilot seeks to validate the company's technology as a safer and sustainable alternative to lithium-ion batteries, it said.
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