Mergers & Acquisitions ·
ESS Tech announced second quarter 2026 financial results and significant strategic developments
GWH-WTESS Tech, Inc.
ESS Tech announced second quarter 2026 financial results and significant strategic developments. The company reported Q2 revenue of $73 thousand and a net loss of $(15.6) million, or $(0.46) per share. Subsequent to the quarter end, ESS signed a non-binding letter of intent for a strategic business combination with a private energy sector company, implying an expected combined enterprise value of approximately $515 million and a premium valuation for ESS shareholders. Additionally, ESS entered into a letter of intent with Juniper Energy for 500+ MWh of sodium-ion battery storage systems, anchored by an 80 MWh California project. The company also began market rollout of its Bridge™ modular sodium-ion system and signed an LOI with Alsym Energy to add 8.5 GWh of sodium-ion cells to its portfolio. ESS operates in the energy storage industry, providing non-lithium battery solutions for commercial and utility-scale applications.