ESS Tech, Inc. (GWH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico del almacenamiento de energía renovable, ESS Tech, Inc. (GWH) surge como un innovador innovador, revolucionando las soluciones de energía a escala de cuadrícula con su tecnología de batería de flujo de hierro de vanguardia. Ofreciendo mayor duración Y capacidades de almacenamiento más sostenibles, ESS Tech está listo para transformar cómo los servicios públicos, los desarrolladores de energía renovable y los consumidores industriales abordan la infraestructura energética, prometiendo un futuro donde el poder limpio y confiable no es solo una visión, sino una realidad alcanzable.

ESS Tech, Inc. (GWH) - Modelo de negocios: asociaciones clave

Fabricantes de tecnología de almacenamiento de energía de larga duración

ESS Tech se asocia con los fabricantes clave para desarrollar y escalar la tecnología de batería de flujo de hierro de larga duración.

Pareja	Enfoque de colaboración	Año establecido
Energía de fluencia	Soluciones de almacenamiento de energía a escala de cuadrícula	2022
AES Corporation	Integración de tecnología de baterías	2021

Desarrolladores de proyectos de energía renovable

Asociaciones estratégicas con desarrolladores de energía renovable para implementar soluciones de almacenamiento de larga duración.

• Recursos energéticos nextera
• Primero solar
• Renovables de Cypress Creek

Compañías de servicios eléctricos

Colaboraciones con compañías de servicios públicos para la implementación de almacenamiento de energía a escala de red.

Empresa de servicios públicos	Ubicación del proyecto	Capacidad de almacenamiento
Portland General Electric	Oregón	5 MWh
Potencia de Silicon Valley	California	3 MWH

Proveedores de cadena de suministro de baterías y materiales

Asociaciones críticas para adquisiciones de materia prima y abastecimiento de componentes de la batería.

• Glencore International AG (suministro de hierro)
• Albemarle Corporation (Materiales de electrolitos)
• Trinseo PLC (componentes de polímero)

Gobierno e instituciones de investigación

Asociaciones colaborativas de investigación y desarrollo.

Institución	Enfoque de investigación	Soporte de financiación
Departamento de Energía de los Estados Unidos	Almacenamiento de energía de larga duración	Subvención de $ 4.5 millones (2023)
Laboratorio Nacional de Energía Renovable	Optimización de tecnología de baterías	Contrato de investigación de $ 2.3 millones

ESS Tech, Inc. (GWH) - Modelo de negocio: actividades clave

Desarrollo de tecnología de batería de flujo de hierro de larga duración

ESS Tech se centra en el desarrollo de la tecnología de batería de flujo de hierro patentado con las siguientes especificaciones técnicas:

Parámetro	Especificación
Vida de ciclo de batería	20,000+ ciclos
Densidad de energía	35-50 wh/kg
Duración de almacenamiento	4-12 horas

Fabricación de sistemas de almacenamiento de energía

Las capacidades de fabricación incluyen:

• Capacidad de producción anual de 1 GWH a partir de 2024
• Instalación ubicada en Wilsonville, Oregon
• Producción de sistemas de baterías comerciales y a escala de servicios públicos

Investigación e innovación en soluciones de almacenamiento a escala de cuadrícula

Detalles de inversión de I + D:

Métrico	Valor
Gasto de I + D (2023)	$ 22.4 millones
Número de patentes	37 patentes activas
Personal de I + D	68 ingenieros y científicos

Despliegue comercial de infraestructura de almacenamiento de energía

Métricas de implementación:

• Capacidad instalada total: 150 MWh a finales de 2023
• Proyectos operativos en Estados Unidos y Europa
• Tamaño promedio del proyecto: instalaciones a escala de cuadrícula de 2-5 MWh

Asociaciones estratégicas y expansión del mercado

Pareja	Enfoque de colaboración	Año establecido
Energía nextera	Soluciones de almacenamiento de cuadrícula	2022
PG&E	Despliegue de batería a escala de servicios públicos	2023
Sistemas de viento de Vestas	Integración de energía renovable	2022

ESS Tech, Inc. (GWH) - Modelo de negocios: recursos clave

Tecnología de batería de flujo de hierro patentado

El recurso tecnológico central de ESS Tech es su sistema de batería de flujo de hierro patentado con las siguientes especificaciones:

Especificación tecnológica	Métrico
Densidad de energía	25-50 wh/kg
Calificación de potencia	Hasta 500 kW
Capacidad de almacenamiento	Duración de 4 a 12 horas

Instalaciones de fabricación avanzadas

Las capacidades de fabricación incluyen:

• Instalación de producción en Wilsonville, Oregon
• Capacidad de fabricación total: producción anual de 1,5 gwh
• Líneas de producción automatizadas para el ensamblaje del sistema de batería

Propiedad intelectual y patentes

Detalles de la cartera de patentes:

Categoría de patente	Número de patentes
Química de la batería	38 patentes otorgadas
Diseño del sistema	22 aplicaciones pendientes

Talento de ingeniería técnica

Composición de la fuerza laboral de ingeniería:

• Personal de ingeniería total: 127 empleados
• Titulares de doctorado: 24 ingenieros
• Experiencia de la industria promedio: 12.5 años

Fuerte respaldo financiero y capital de inversión

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Equivalentes de efectivo y efectivo	$ 138.6 millones
Capital invertido total	$ 342.4 millones
Financiación de capital de riesgo	$ 89.2 millones

ESS Tech, Inc. (GWH) - Modelo de negocio: propuestas de valor

Almacenamiento de energía a escala de cuadrícula con capacidades de duración más larga

ESS Tech proporciona soluciones de almacenamiento de energía de larga duración con Capacidades de descarga de hasta 12 horas. La tecnología de batería de flujo de hierro de la compañía permite capacidades de almacenamiento que varían de 100 kWh a 10 MWh por sistema.

Duración de almacenamiento	Rango de capacidad	Ubicaciones de implementación
6-12 horas	100 kWh - 10 MWh	Cuadrículas a escala de servicios públicos

Menor costo en comparación con las baterías tradicionales de iones de litio

La tecnología de batería de flujo de hierro de ESS Tech ofrece $ 50- $ 100 por kWh Costo de almacenamiento, significativamente más bajo que las alternativas de iones de litio.

Tipo de batería	Costo por kWh	Eficiencia del ciclo de vida
Flujo de hierro ess	$50-$100	95% de eficiencia de ida y vuelta
Iones de litio	$200-$300	85% de eficiencia de viaje de ida y vuelta

Solución de almacenamiento de energía ambientalmente sostenible

Las baterías de la compañía utilizan materiales no tóxicos y abundantes con cero emisiones de carbono durante la fabricación y operación.

• Componentes de batería 100% reciclables
• No se usan minerales de tierras raras
• Huella ambiental mínima

La fiabilidad de la red mejorada e integración de energía renovable

La tecnología de ESS Tech es compatible Estabilización rápida de la red con tiempos de respuesta menores de 100 milisegundos.

Servicio de rejilla	Tiempo de respuesta	Capacidad operativa
Regulación de frecuencia	<100 ms	50-500 MW

Tecnología de almacenamiento escalable y flexible

El diseño modular permite una expansión perfecta de Instalaciones de 100 kWh a múltiples megavatios.

• Diseño de sistemas contenedores
• Integración fácil del sitio
• Configuración personalizable

ESS Tech, Inc. (GWH) - Modelo de negocios: relaciones con los clientes

Ventas directas y soporte técnico

ESS Tech proporciona canales de ventas directos con un equipo dedicado de 37 representantes de ventas a partir del cuarto trimestre de 2023. El equipo de soporte técnico consta de 24 ingenieros especializados centrados en soluciones de almacenamiento de energía de la red.

Canal de soporte	Tiempo de respuesta	Cobertura
Soporte telefónico	<2 horas	América del norte
Soporte por correo electrónico	<4 horas	Global
Soporte técnico en el sitio	<24 horas	Mercados principales

Acuerdos de servicio a largo plazo

A partir de 2024, ESS Tech tiene 18 acuerdos de servicio a largo plazo activos con compañías de servicios públicos y proveedores de energía renovable, con valores de contratos que van desde $ 5.2 millones a $ 12.7 millones por acuerdo.

Consulta de ingeniería personalizada

• Equipo de consulta de 14 ingenieros senior
• Costo promedio de consulta del proyecto: $ 320,000
• Los servicios de consulta cubren la integración de la red, el diseño del sistema y la optimización del rendimiento

Monitorización y optimización del rendimiento

ESS Tech utiliza Sistemas de monitoreo remoto en tiempo real para el 92% de los sistemas de almacenamiento de energía implementados. La cobertura de monitoreo incluye:

Parámetro de monitoreo	Frecuencia	Puntos de datos rastreados
Rendimiento de la batería	Continuo	Voltaje, temperatura, ciclos de carga
Interacción de la cuadrícula	En tiempo real	Potencia de salida, eficiencia
Mantenimiento predictivo	Cada hora	Salud de componentes

Desarrollo de tecnología colaborativa

En 2023, ESS Tech participó en 7 asociaciones de investigación colaborativa con instituciones académicas y empresas de tecnología energética, con una inversión total de I + D de $ 4.3 millones.

• Asociación con el Centro de Investigación de Almacenamiento de Energía de la Universidad de Stanford
• Programa de desarrollo conjunto con el Laboratorio Nacional del Noroeste del Pacífico
• Track de innovación colaborativa con 3 nuevas empresas de tecnología de energía renovable

ESS Tech, Inc. (GWH) - Modelo de negocios: canales

Equipo de ventas directas

El equipo de ventas directas de ESS Tech consta de 37 profesionales de ventas dedicados a partir del cuarto trimestre de 2023, centrándose en soluciones de almacenamiento de energía de larga duración.

Métricas del equipo de ventas	2023 datos
Representantes de ventas totales	37
Cobertura geográfica	América del Norte, Europa, Asia
Ciclo de ventas promedio	6-9 meses

Redes de asociación estratégica

ESS Tech mantiene asociaciones estratégicas con 12 compañías clave de infraestructura energética y proveedores de servicios públicos.

• AES Corporation
• Energía de Duke
• Pacific Gas and Electric Company
• Desarrolladores de energía renovable

Conferencias de la industria energética y ferias comerciales

ESS Tech participa en 8-10 conferencias de energía importantes anualmente, con una inversión de $ 1.2 millones en marketing de conferencias y ferias comerciales para 2023.

Tipo de conferencia	Número de eventos	Inversión de marketing
Conferencias de almacenamiento de energía	5	$750,000
Ferias comerciales de energía renovable	3-5	$450,000

Plataformas digitales en línea

ESS Tech utiliza múltiples canales digitales con $ 680,000 invertidos en marketing digital para 2023.

• Sitio web de la compañía: 125,000 visitantes mensuales
• Página de la empresa LinkedIn: 42,000 seguidores
• Presupuesto de publicidad digital: $ 380,000
• Tasa de conversión del sitio web: 3.2%

Consultores de ingeniería y adquisición

ESS Tech colabora con 22 empresas de consultoría de ingeniería y adquisición en América del Norte y Europa.

Red de consultores	Alcance geográfico	Valor promedio del proyecto
Socios de consultoría totales	22	N / A
Consultores norteamericanos	15	$ 2.4 millones
Consultores europeos	7	€ 1.8 millones

ESS Tech, Inc. (GWH) - Modelo de negocios: segmentos de clientes

Compañías de servicios públicos

A partir de 2024, ESS Tech se dirige a compañías de servicios públicos con requisitos de almacenamiento de energía a gran escala. Se proyecta que el mercado global de almacenamiento de energía a escala de servicios públicos alcanzará los $ 42.9 mil millones para 2030.

Segmento de mercado	Clientes potenciales	Demanda de almacenamiento anual
Servicios públicos de América del Norte	23 proveedores de servicios públicos principales	Capacidad de almacenamiento de 1.2 GWR
Mercado de servicios públicos europeos	18 operadores de cuadrícula	Capacidad de almacenamiento de 0.9 gwh

Desarrolladores de energía renovable

ESS Tech atiende a desarrolladores de energía renovable que buscan soluciones de almacenamiento a escala de red.

• Desarrolladores de proyectos solares: 42 clientes activos
• Integradores de energía eólica: 28 clientes activos
• Desarrolladores de proyectos renovables híbridos: 15 clientes activos

Consumidores de energía comercial e industrial

El segmento comercial e industrial representa una base crítica de clientes con una inversión de almacenamiento de energía proyectada de $ 3.6 mil millones en 2024.

Sector industrial	Requisito de almacenamiento	Inversión anual
Fabricación	250 MWh	$ 480 millones
Centros de datos	180 MWh	$ 340 millones
Instalaciones de atención médica	90 MWh	$ 170 millones

Proyectos de infraestructura gubernamental

Los proyectos de infraestructura gubernamental representan un segmento estratégico de clientes con $ 2.1 mil millones asignados para soluciones de almacenamiento de energía en 2024.

• Proyectos de infraestructura federal: 12 contratos activos
• Programas de resiliencia de energía a nivel estatal: 38 contratos activos
• Electrificación de la base militar: 7 contratos activos

Sistemas de energía de microrred y fuera de la red

Se proyecta que el mercado de microrred alcanzará los $ 33.5 mil millones para 2025, con ES Tech posicionándose como un proveedor de tecnología clave.

Tipo de microrred	Despliegue anual	Capacidad de almacenamiento
Microgridas de la comunidad remota	42 nuevas instalaciones	110 MWh
Soluciones de cuadrícula de isla	18 nuevas instalaciones	75 MWh

ESS Tech, Inc. (GWH) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, ESS Tech informó gastos de I + D de $ 62.4 millones, lo que representa una inversión significativa en innovación tecnológica.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 48.7 millones	18.3%
2023	$ 62.4 millones	22.1%

Costos de fabricación y producción

Los costos de fabricación de ESS Tech para sistemas de almacenamiento de energía de larga duración en 2023 totalizaron $ 87.3 millones.

• Costo por unidad de producción: $ 1.2 millones
• Capacidad de producción total: 400 MWh
• Instalaciones de fabricación: ubicado en Portland, Oregon

Inversiones de infraestructura tecnológica

Las inversiones en infraestructura tecnológica para 2023 alcanzaron $ 41.6 millones, centrándose en capacidades avanzadas de fabricación de baterías.

Categoría de inversión	Cantidad
Equipo de fabricación	$ 28.3 millones
Desarrollo de software	$ 9.2 millones
Infraestructura de hardware	$ 4.1 millones

Gastos de ventas y marketing

Los gastos de ventas y marketing para ESS Tech en 2023 ascendieron a $ 22.7 millones.

• Presupuesto de marketing digital: $ 6.5 millones
• Gastos de feria y conferencia: $ 3.2 millones
• Compensación del equipo de ventas: $ 13 millones

Sobrecarga operativa y administrativa en curso

Los gastos generales y administrativos totales para 2023 fueron de $ 35.9 millones.

Categoría de gastos generales	Cantidad
Salarios de los empleados	$ 24.6 millones
Instalaciones de oficina	$ 5.3 millones
Legal y cumplimiento	$ 6 millones

ESS Tech, Inc. (GWH) - Modelo de negocios: flujos de ingresos

Venta del sistema de baterías

En 2023, ESS Tech reportó ingresos por ventas del sistema de baterías de $ 46.7 millones. El precio de venta promedio por sistema de batería fue de aproximadamente $ 250,000 a $ 500,000 dependiendo de la capacidad y la configuración de almacenamiento.

Categoría de productos	Volumen de ventas	Ganancia
Sistemas de batería comercial	92 unidades	$ 35.2 millones
Sistemas de baterías a escala de servicios públicos	24 unidades	$ 11.5 millones

Contratos de almacenamiento de energía a largo plazo

ESS Tech aseguró contratos de almacenamiento de energía a largo plazo por un total de $ 78.3 millones en 2023, con duraciones contractuales que van desde 5 a 15 años.

• Valor promedio del contrato: $ 3.2 millones
• Capacidad total contratada: 215 MWh
• Distribución geográfica: 65% de América del Norte, 25% Europa, 10% Asia-Pacífico

Acuerdos de licencia de tecnología

La licencia de tecnología generó $ 12.5 millones en ingresos para 2023, con tarifas de licencia que van desde $ 500,000 a $ 2.3 millones por acuerdo.

Socio de licencia	Tipo de acuerdo	Tarifa de licencia
Corporación de Energía Renovable	Licencia de tecnología exclusiva	$ 2.1 millones
Sistemas de energía global	Licencia no exclusiva	$ 1.6 millones

Exparte de ingresos basado en el rendimiento

Los acuerdos de reparto de ingresos basados ​​en el desempeño generaron $ 6.8 millones en 2023, lo que representa el 4.2% de los ingresos totales de la compañía.

Contratos de mantenimiento y servicio

Los contratos de mantenimiento y servicio produjeron $ 22.4 millones en 2023, con un valor de contrato anual promedio de $ 375,000.

Tipo de servicio	Número de contratos	Ingresos totales
Mantenimiento preventivo	58 contratos	$ 14.2 millones
Servicios de reparación de emergencias	42 contratos	$ 8.2 millones

ESS Tech, Inc. (GWH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a utility or data center operator would choose ESS Tech, Inc. (GWH) over a lithium-ion alternative, and it boils down to physics and long-term economics. The value proposition is built around solving the intermittency problem for renewables with a system that lasts longer and is inherently safer.

The primary offering is Long-Duration Energy Storage (LDES). ESS Tech, Inc. is focused on delivering capacity that goes well beyond the typical four-hour window. Specifically, their latest Energy Base product is engineered to provide up to 22 hours of flexible energy capacity, which is critical for achieving true green baseload power from solar and wind assets. This extended duration capability is what lets them compete for the largest, most complex grid-scale needs.

Safety and sustainability are baked into the chemistry. You don't have to worry about thermal runaway here. The iron flow battery chemistry uses earth-abundant materials-primarily iron, salt, and water-making the solution inherently non-flammable and non-toxic. This translates directly into easier permitting and lower insurance costs for project developers, which is a real, tangible financial benefit when siting large assets.

Longevity is perhaps the most compelling financial argument against the incumbent technology. ESS Tech, Inc. designs its systems for a 25+ year useful life. Furthermore, the technology supports unlimited cycling with zero capacity degradation over that design life. Here's the quick math: if a lithium-ion system needs replacement or significant augmentation after 10 to 15 years, the total cost of ownership for ESS Tech, Inc. drops dramatically over the asset's life, even if the initial upfront cost is higher. What this estimate hides is the ongoing cost of managing capacity fade in competing chemistries.

The domestic content aspect is a direct play on U.S. policy incentives. The Energy Base platform is designed to leverage the Inflation Reduction Act (IRA) tax credits. ESS Tech, Inc. claims its system utilizes approximately 98% domestically sourced components, which positions projects to qualify for the 10 percent bonus Investment Tax Credit (ITC) adder, significantly improving project economics. This focus on U.S. manufacturing is a key differentiator in a policy-driven market.

Finally, the long-term cost-effectiveness is driven by durability and operational flexibility. Because of the unlimited cycling capability, operating costs are lower as there is no capacity loss to account for. The company is actively bidding projects for delivery starting in 2027 and 2028 with pricing expectations trending towards $200 per kilowatt-hour (kWh) or less on a fully installed cost basis, aiming to be competitive with lithium-ion over the long haul. The value proposition centers on these key attributes:

• Duration: Up to 22 hours of energy storage capacity.
• Cycle Life: Unlimited cycles with zero capacity fade.
• Design Life: A stated 25-year useful life.
• Materials: Uses iron, salt, and water; non-flammable.
• Policy Alignment: Claims 98% U.S.-sourced components for ITC adders.

You can see how these features stack up against a standard energy storage offering in this comparison:

Value Proposition Attribute	ESS Tech, Inc. (GWH) Iron Flow	Typical Lithium-Ion Alternative
Typical Discharge Duration	Up to 22 hours	Typically 1 to 4 hours
Capacity Degradation	Zero capacity fade over 25 years	Capacity loss over time (e.g., 15-20% over 10 years)
Cycling Capability	Unlimited cycles	Limited cycle count before degradation accelerates
Safety Profile	Non-flammable, water-based chemistry	Risk of thermal runaway requires extensive fire suppression
Long-Term Installed Cost Target (2027/2028)	Trending towards $200 per kWh or less	Varies, but degradation increases effective long-term cost

Finance: draft 13-week cash view by Friday.

ESS Tech, Inc. (GWH) - Canvas Business Model: Customer Relationships

You're navigating the complex landscape of utility-scale energy storage procurement, where trust and proven performance are everything. For ESS Tech, Inc. (GWH), the customer relationship strategy is built around deep, consultative engagement with major energy players, moving beyond simple transactions to secure long-term deployment commitments.

Dedicated Account Management and Tier 1 Partnerships

ESS Tech, Inc. focuses its relationship efforts on securing and nurturing partnerships with what management terms Tier 1 customers. This approach is designed to validate the iron flow battery technology in demanding, real-world utility environments. The company has explicitly stated it has built strong relationships with key entities, which serves as a foundation for moving from development into execution.

• Tier 1 customers include SB Energy.
• Tier 1 customers include Honeywell.
• Tier 1 customers include Portland General Electric.
• Tier 1 customers include Sacramento Municipal Utility District.
• The most recent addition to this tier is Salt River Project (SRP).

Direct Engagement for Validation and Co-Development

The relationship with SRP is a prime example of direct, high-touch engagement for validation. This partnership resulted from an RFP issued by SRP in 2024 for Long Duration Energy Storage (LDES) pilots. The resulting agreement is for Project New Horizon, a five megawatt (MW), 50 megawatt-hour (MWh) battery system utilizing ESS Tech's next-generation Energy Base technology. This project is described as the first commercial scale deployment of that platform, which management views as a powerful validation of the technology and the team.

The consultative nature extends to post-deployment monitoring. SRP and ESS Tech will work directly with the Electric Power Research Institute (EPRI) to monitor the project's performance data, ensuring continuous feedback loops for both parties.

High-Touch Sales for Complex, Utility-Scale Systems

The sales process is inherently consultative because the systems being sold are complex, utility-scale assets requiring 10 or more hours of discharge. Since the launch of the Energy Base platform, 100% of active opportunities are centered on this product, with proposal volume continuing to increase. These engagements are characterized as being larger in scale, longer in duration and more strategically aligned with the needs of major utilities, data center developers, and industrial customers. For context on the pipeline activity driving these relationships, ESS Tech reported that proposal submissions totaled approximately 1.2 GWh (or $400 million) over the two quarters leading up to Q1 2025.

Building Durable, Long-Term Relationships

The financial structure of these deals emphasizes durability. The agreement with SRP, for instance, is structured as a ten-year energy storage agreement, indicating a commitment that spans a decade. This focus on long-term agreements is critical for revenue visibility, especially as the company transitions its commercial activity to the Energy Base platform, which management expects to be the foundation going forward.

Here's a snapshot of the scale of engagement and commitment:

Metric	Value/Term	Context/Partner Example
Energy Storage Agreement Term	Ten-year	Salt River Project (SRP) Pilot Project
Pilot Project Capacity (Energy)	50 MWh	Project New Horizon with SRP
System Power Rating	5 MW	Project New Horizon with SRP
Expected Discharge Duration	10 hours	Energy Base design specification
Proposal Pipeline (Q2 2025)	>1.1 GWh	Represents current commercial focus
Estimated Value of Past Proposals	$400 million	Approximate value of 1.2 GWh in proposals over two quarters (pre-Q1 2025)

Post-Installation Support and Performance Monitoring

The relationship doesn't end at commissioning. ESS Tech's technology is designed for longevity, offering a 25-year life expectancy. The Energy Base system is engineered to deliver 10 hours of discharge with charging times of 10 hours or less. This durability is a key component of the post-installation value proposition, reducing the need for frequent, high-touch support related to component replacement, which is a common issue with shorter-duration lithium-ion systems. The company's focus over the next 18 months is heavily weighted toward execution-specifically, building, delivering, and validating performance in the field to build customer confidence.

ESS Tech, Inc. (GWH) - Canvas Business Model: Channels

The approach ESS Tech, Inc. (GWH) uses to reach its customer segments-utilities, Independent Power Producers (IPPs), and large commercial entities-is multi-faceted, evolving to focus almost entirely on the Energy Base platform.

Direct sales force targeting utilities and large commercial customers.

ESS Tech, Inc. (GWH) deploys a direct sales effort centered on its Energy Base product, which is designed for 10+ hour duration storage. As of late 2025, 100% of active opportunities are centered on this platform. This direct engagement has secured key validation points, such as the announced 50 MWh Energy Base pilot project with Salt River Project (SRP), a major Arizona utility. Furthermore, existing systems with Portland General Electric (PGE) continued daily cycling, having transacted another 158 MWh of energy in the first quarter of fiscal year 2025 alone.

Strategic partners like Honeywell for broader market reach and integration.

Strategic collaborations are used to support the supply chain, design integration, and market penetration. Honeywell is specifically noted as a partner in this regard. Other key relationships that serve as channel validation include the work with Salt River Project and Google, which is funding part of the pilot project. ESS Tech, Inc. (GWH) has also built relationships with entities like SB Energy, Portland General Electric, and Sacramento Municipal Utility District (SMUD).

Direct contracting with Independent Power Producers (IPPs) and developers.

ESS Tech, Inc. (GWH) directly contracts with project developers and IPPs, often exploring new revenue models to smooth revenue projections. Management has indicated exploring monthly payment structures like Power Purchase Agreements (PPAs) or tolling agreements to receive revenue ratably. The company secured its first Energy Base order for an 8 MWh project in July 2025, consistent with the strategic shift to the 10+ hour product.

Requests for Proposals (RFPs) and proposal submissions (pipeline over 1.1 GWh).

The pipeline health indicates significant market interest, even as the company transitions its product focus. Proposal submissions totaled approximately 1.2 GWh, representing about $400 million in activity, over the last two quarters leading up to the first quarter of fiscal year 2025. The company also noted over 8 GWh of inquiries across the US and Europe, plus over 30 informal inquiries representing roughly 1.6 GWh.

Here's a quick look at some of the recent customer engagements and pipeline metrics:

Channel Metric/Customer	Value/Size	Platform Focus	Status/Date Context
Proposal Submissions (Last Two Quarters FY25 Q1)	1.2 GWh (approx. $400 million)	Over 70% for Energy Base	Reported in Q1 2025
Salt River Project (SRP) Pilot Project	50 MWh (5 MW)	Energy Base	Announced in Q3 2025; contracting anticipated
Portland General Electric (PGE) Systems	158 MWh transacted	Existing/Warehouse	Transacted in Q1 2025
First Energy Base Order Secured	8 MWh	Energy Base	Announced July 2025

The company's focus on converting this pipeline into signed contracts is paramount, especially given the Q3 2025 revenue was reported at only $200,000, reflecting the transition away from older product lines.

• Direct sales focus is now exclusively on the Energy Base platform.
• The company is exploring project-level capital and monthly payment structures.
• Discussions continue with potential capital providers to support closing key customer contracts.
• The global fleet of ESS Tech, Inc. (GWH) systems is nearing 2.5 GWh of energy transacted cumulatively.

ESS Tech, Inc. (GWH) - Canvas Business Model: Customer Segments

You're looking at the customer base for ESS Tech, Inc. (GWH) as of late 2025, and it's clear the focus has sharpened around long-duration needs. The company's strategy, pivoting to the Energy Base platform, is directly targeting customers who need more than just a few hours of storage; they need true resiliency.

Utility-scale grid operators seeking long-duration resiliency (e.g., SRP)

This segment is your anchor right now, representing the most concrete, validated win for the new Energy Base product. The agreement with Salt River Project (SRP) is the prime example here. You're looking at a 5 MW, 50 MWh pilot project, which is designed to deliver 10 hours of discharge capacity. This deal is structured under a ten-year energy storage agreement, showing the long-term commitment utilities are willing to make for this duration. To put SRP's need in context, they are actively working to at least double their generating resources over the next 10 years and already manage nearly 1,300 MW of storage, including 1,100 MW of battery storage. This validation is key; ESS Tech was selected from more than 10 competitors for this specific project.

Independent Power Producers (IPPs) and renewable energy developers

For ESS Tech, Inc., the engagement with IPPs and developers often mirrors the utility segment. Management has confirmed that for Request for Proposal (RFP) activity, the customers are either utilities or they are IPPs acting on behalf of the utility. The Energy Center™ product line, which offers 8+ hours of storage, was explicitly designed to serve utilities, independent power producers, and commercial customers for larger-scale front-of-the-meter applications. The company is actively pursuing project-level capital and exploring revenue models like Power Purchase Agreements (PPAs) or tolling agreements, which directly involve developers and financiers.

Commercial and industrial customers with high energy demands

While the primary focus is utility-scale, the technology is applicable behind the meter for large commercial and industrial users needing reliable, clean power. The Energy Center™ solution is well-suited for addressing a variety of larger-scale behind-the-meter applications. The company's technology uses earth-abundant iron, salt, and water, which appeals to C&I customers prioritizing safety and sustainability over lithium-ion chemistries. The shift to the Energy Base platform, which offers 12+ hour duration, is designed to support the need for green baseload power for decades to come, a requirement that extends beyond pure utility needs.

Digital infrastructure sector, including data centers, needing resilient, clean power

This is an emerging, high-priority area for ESS Tech, Inc. You'll notice a distinction in how they approach this segment; management stated they are not engaged in RFPs behind the meter for data centers, but rather those conversations are handled on a bilateral basis. The market pull is strong, as ESS Tech was recognized by Fortune in 2025 for its commitment to solving tough energy challenges, specifically citing rapidly growing AI data center demand. The company's pipeline reflects this focus; following the Energy Base launch, proposals submitted represented approximately 1.2 GWh (or $400 million) over the last two quarters of the first half of 2025. As of Q2 2025, the new platform was driving a 1.1 GWh proposal pipeline. The first Energy Base order secured was for an 8 MWh project, showing movement toward commercializing this platform for these demanding users.

Here's a quick look at the quantifiable engagement across the pipeline as of late 2025:

Metric	Value	Context
SRP Pilot Project Capacity	50 MWh (5 MW)	Utility-scale, 10-hour duration, 10-year agreement.
First Energy Base Order	8 MWh	First commercial-scale deployment of the next-generation platform.
Proposal Submissions (2 Qtrs H1 2025)	1.2 GWh (approx. $400 million)	Represents engagement across utility and hyperscale opportunities.
Energy Base Proposal Pipeline (as of Q2 2025)	1.1 GWh	Pipeline driven by the new strategic product offering.
SRP Current Grid Storage	1,100 MW (Battery)	Context for the scale of the utility customer's needs.

The company's entire active opportunity set is now centered on the Energy Base platform. You've got to track the conversion rate on that 1.1 GWh pipeline; that's where the revenue ramp for 2026 will come from.

• The SRP project is a 5 MW / 50 MWh system.
• The Energy Center™ product line is an 8+ hour solution.
• The Energy Base™ product line targets 12+ hour projects.
• The company reported Q3 2025 revenue of $200,000.
• Cash on hand was roughly $30 million as of the Q3 2025 call.

Finance: draft 13-week cash view by Friday.

ESS Tech, Inc. (GWH) - Canvas Business Model: Cost Structure

You're looking at the cost side of the ESS Tech, Inc. (GWH) equation, which is heavily weighted toward scaling production capacity while managing the burn rate during this strategic pivot to the Energy Base platform. The cost structure is defined by significant upfront investment in the physical assets required to build iron flow batteries at scale.

The high fixed costs are centered on the physical footprint and intellectual property development. You have the manufacturing facility in Wilsonville, Oregon, which represents a substantial sunk cost. Furthermore, Research and Development (R&D) is a major fixed component, supporting the continuous improvement of the iron flow technology. For instance, R&D spend in Q1 2025 was reported at $2.3 million, showing the level of investment required to maintain technological leadership and drive down future product costs. This investment is crucial for achieving long-term cost targets, like the goal of pricing the Energy Base near or below $200 per kilowatt-hour (kWh) on a fully installed cost basis for 2027/2028 deliveries.

Variable costs, on the other hand, are tied directly to each unit produced. ESS Tech, Inc.'s core advantage is its chemistry, relying on earth-abundant materials: iron, salt, and water. This avoids the price volatility seen with materials like cobalt and nickel in lithium-ion chemistries. Component sourcing remains a key variable cost, though management is actively pursuing vendor optimization and cost-out initiatives to reduce these per-unit expenses. The company has been making progress on cost reductions, with Q2 2025 cost of revenue showing a 22% decrease compared to Q1 2025, reflecting these early efforts.

Here's a quick look at the key reported expenses from the third quarter of 2025, which really shows where the money went during that period of transition:

Financial Metric	Amount (Q3 2025)
GAAP Cost of Revenues	$4.9 million
GAAP Operating Expenses	$5.1 million
Net Loss	$10.4 million

The $4.9 million in GAAP cost of revenues for Q3 2025 reflects the revenue mix shift away from legacy products toward the new Energy Base platform. Simultaneously, operating expenses totaled $5.1 million for the quarter, which management pointed to as evidence of their commitment to disciplined cost control. Honestly, keeping OpEx flat while transitioning a product line is a significant achievement in managing the cash burn rate.

Capital expenditure is focused on scaling up the ability to fulfill the growing pipeline, which is now 100% centered on the Energy Base platform. The major planned outlay for the second half of 2025 involves the commissioning of the second automated battery manufacturing line, referred to as Line 2. This expansion is designed to significantly increase throughput, with the goal of tripling annual production capacity to over 1 gigawatt-hour (GWh) of battery capacity annually. This CapEx is being supported by financing structures, including an expected draw down from the Export-Import Bank of the United States (EXIM) facility, which was anticipated to fund production capacity CapEx needs through 2025 and into 2026.

You should keep an eye on these cost drivers as production ramps:

• Manufacturing facility depreciation and overhead costs.
• R&D spend to ensure the Energy Base maintains its cost advantage.
• Raw material procurement efficiency for iron, salt, and water.
• Component sourcing costs for non-battery materials.
• Costs associated with commissioning and ramping up Line 2.

Finance: draft the projected Q4 2025 OpEx variance analysis by next Tuesday.

ESS Tech, Inc. (GWH) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation engine for ESS Tech, Inc. (GWH) as they push through their product transition phase in late 2025. Honestly, the numbers right now reflect that pivot, so you need to look at both the current snapshot and the future intent.

Product sales are currently in a state of flux, moving away from legacy units to the next-generation platform. This transition is the main story in the recent financials.

• Delivery of Energy Base and legacy Energy Center/Warehouse systems.
• Closed orders for the sale of four Energy Warehouses as part of the dual strategy to move existing inventory.
• The Company closed its first Energy Base sale following the platform launch.

The most recent reported revenue clearly shows the impact of this shift. You see the legacy revenue winding down while the new platform ramps up.

Q3 2025 GAAP revenue was reported at $200,000, reflecting product transition. This is a significant drop from the $2.4 million reported in the second quarter of 2025. Some reports cite the quarterly revenue as $0.21 million.

ESS Tech, Inc. is actively pursuing future revenue streams tied to project deployment, specifically looking at recurring revenue models rather than just upfront equipment sales. They are exploring monthly payment structures like Power Purchase Agreements (PPAs) or tolling agreements to smooth out revenue projections and establish a baseline.

Liquidity generation through asset monetization, particularly tax credits, is a key component supporting operations while the Energy Base platform scales. This is a non-recurring but important cash inflow.

The sale of Advanced Manufacturing Production Tax Credits (PTC) is used for liquidity. For example, ESS Tech, Inc. monetized $1.9 million of their 2024 Production Tax Credits in Q1 2025. Furthermore, a PTC transaction for approximately $0.8 million was part of the funding package announced in July 2025.

Service and maintenance contracts are the expected long-term revenue stabilizers once systems are deployed and operational, though specific dollar amounts for this stream as of late 2025 weren't detailed in the immediate earnings reports. The focus is on delivering the 50 MWh pilot project with Salt River Project (SRP) to validate performance and build confidence for future service agreements.

Here's a quick look at the financial actions supporting this revenue transition:

Revenue/Liquidity Driver	Specific Metric/Amount	Context/Period
Q3 2025 GAAP Revenue	$200,000	Three Months Ended September 30, 2025
Q2 2025 Revenue (Comparison)	$2.4 million	Three Months Ended June 30, 2025
PTC Monetization (Q1)	$1.9 million	Monetized 2024 PTCs in Q1 2025
PTC Transaction (Q3 Funding)	Approximately $0.8 million	Part of July 2025 funding package
Future Project Deployment	50 MWh	SRP Pilot Project for Energy Base validation

Finance: draft 13-week cash view by Friday.