ESS Tech Business Summary

ESS Tech, Inc. (GWH) is a leading manufacturer of long-duration energy storage (LDES) systems, specializing in proprietary iron flow battery technology. The company generates revenue primarily through the sale of its three core hardware platforms: the Energy Warehouse for behind-the-meter commercial use, the Energy Center for utility-scale applications, and the gigawatt-scale Energy Base. These system sales are supplemented by recurring revenue from long-term maintenance service contracts and technology licensing agreements. By utilizing a non-flammable electrolyte composed of earth-abundant iron, salt, and water, ESS Tech provides a sustainable and cost-effective alternative to lithium-ion batteries for durations ranging from 4 to 12 hours. The company competes directly with LDES providers such as Form Energy, Energy Vault, and Stem, Inc., positioning itself as the primary commercial-stage leader in iron-flow chemistry with a focus on 25-year operational lifespans and minimal capacity degradation. As of February 2026, the company is led by Chief Executive Officer Drew Buckley, a veteran technology investment executive and former William Blair partner who assumed the role on January 1, 2026. The executive team was recently expanded with the appointment of Randall Selesky as Chief Commercial Officer on February 19, 2026, bringing over two decades of energy sector experience from VoltStorage. Other key leaders include Chief Financial Officer Kate Suhadolnik and Chief Strategy Officer Kelly Goodman, both of whom were confirmed in their permanent roles during the early 2026 leadership reset. ESS Tech was co-founded in 2011 by Craig Evans and Julia Song, the latter serving as the technical visionary behind the company's iron-flow patents. The firm is backed by high-profile investors including Bill Gates’ Breakthrough Energy Ventures and SoftBank Group, and it maintains a strategic financing partnership with Yorkville Advisors to support its manufacturing scale-up in Wilsonville, Oregon.