ZombieClean Energy
What Happened to ESS Tech?
Ticker: GWHSPAC Year: 2020
Return
-88.2%
Current Price
$1.18
Peak Price
$433.8
Trust Size
$51M
Summary
ESS Tech develops iron flow battery systems for long-duration energy storage, offering a non-lithium, non-toxic alternative for utility-scale and commercial applications.
What Happened
ESS Tech went public in October 2021 through a merger with ACON S2 Acquisition Corp at a $1.07 billion valuation. The company's iron flow batteries use earth-abundant iron, salt, and water as active materials, promising 20+ year lifespans with no capacity degradation. ESS has struggled with manufacturing scale-up and the stock has plummeted, though the technology remains promising for grid-scale storage applications.
Timeline
2020-09-11
S-1 Registration Filed
Risk Indicators
⚠️ Reverse Split