ESS' Australian Partner Raises AU$65 Million In Public And Private Funds To Accelerate Iron Flow Deployments; Investment Will Support Achievement Of Energy Storage Industries, Asia Pacific's 400MW Annual Iron Flow Battery Production Target Using ESS Technology

Investment will support achievement of Energy Storage Industries – Asia Pacific's 400MW annual iron flow battery production target using ESS technology

ESS Tech, Inc. (ESS) (NYSE:GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that its Australian partner, Energy Storage Industries – Asia Pacific (ESI), has received an investment of AU$25 million (~US$17 million) from the Queensland Government and raised a further AU$40 million (~US$23 million) in private capital to accelerate the clean energy transition in Australia and Oceania.

With the new investment, ESI will continue construction on a manufacturing facility in Maryborough, Queensland, Australia at which it will assemble long-duration iron flow battery systems. Core components for these systems will be manufactured by ESS in the United States and shipped to ESI for system assembly. The finished systems assembled by ESI will be delivered to customers across the region.