Energy storage technology co ltd goes public through backdoor listing

Who backed the SPAC for ESS, the battery company?

The SPAC for ESS, the battery company, is backed by Breakthrough Energy Ventures (Gates’ clean energy investment firm), SB Energy (a wholly owned subsidiary of SoftBank), and multinational chemical company BASF, among other investors.

What is a long-duration energy storage battery?

ESS, a battery company backed by Bill Gates and SoftBank, specializes in long-duration energy storage batteries. These batteries are made of iron, salt, and water, making them cheaper and more readily available than traditional lithium and cobalt batteries.

How long can an ESS battery store energy?

ESS’ battery stores energy for between four and 12 hours, a time frame that pairs well with renewable energy sources such as solar and wind. The battery is made primarily of iron, salt and water, which are readily available and safe resources.

How much energy can an Energy Warehouse hold?

The Energy Warehouse, the only ESS product that exists so far, holds 500 kilowatt hours of energy. That’s roughly the energy that you would need to power 20 to 30 homes, depending on where you are in the country.

What is the size of ESS's Energy Warehouse?

The Energy Warehouse, the only ESS product that exists so far, is the size of a shipping container, 40 feet long and 8 feet wide. It holds 500 kilowatt hours of energy.