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ESS Tech pivots to sodium-ion batteries, streamlines operations as NYSE warns of delisting risk over share price
GWHESS Tech, Inc.
On June 23, 2026, ESS Tech, Inc. announced a strategic shift to accelerate the development of sodium-ion battery energy storage systems while continuing its iron flow battery technology. The company plans to streamline Wilsonville operations to reduce expenses and cash burn. As of May 31, 2026, the company reported a cash position of approximately $13.6 million in cash, cash equivalents, and short-term investments. Additionally, the company updated its risk factors following notice from the NYSE regarding failure to meet the minimum share price requirement under Section 802.01C. The company operates in the energy storage industry and develops long-duration battery technology.