Liquid flow energy storage company plans to go public through backdoor listing

Will energy storage company ESS go public?

Long duration energy storage company ESS Inc. is publicly listing its stock through a merger with a special purpose acquisition company (SPAC), the latest storage startup to go public through the expedited strategy.

Who are Energy Storage Startups?

As the renewable energy sector is growing amid dropping prices and policy incentives, energy storage startups are also seeking their share of the market. In the last year, zinc battery maker Eos Energy Storage, Stem and recycler Li-Cycle have all entered the marketplace via SPAC, as have electric vehicle startups Fisker and Nikola.

Do flow battery manufacturers have potential?

Ariel Cohen, a senior fellow at the Atlantic Council and director of the energy, growth and security program at the International Tax and Investment Center, said that flow battery manufacturers have potential because of the resource advantages, but still face an uncertain marketplace with larger battery manufacturers.

How big will energy storage be in 2025?

According to a forecast from Wood Mackenzie, U.S. energy storage deployments will continue to increase over the next five years, projected to reach 7.8 gigawatts annually in 2025. That represents fivefold growth over installations in 2020.