ESS Tech, Inc. (NYSE: GWH), a leading manufacturer of long-duration iron flow energy storage solutions, announced the closing of its previously announced registered direct offering with institutional investors. The transaction raised approximately $15 million through the sale of 8,571,428 shares of common stock and pre-funded warrants at a price of $1.75 per share, representing a premium to the Jan. 28, 2026 closing price. The offering closed on Jan. 30, 2026, with aggregate gross proceeds of approximately $15 million. Net proceeds, together with existing cash, are expected to be used for general corporate purposes and working capital. Aegis Capital Corp. served as the exclusive placement agent for the offering.
This capital infusion comes at a critical time for ESS Tech as it continues to scale its iron flow battery technology, which uses iron, salt, and water to provide long-duration energy storage. The company’s technology is designed to enhance energy security, reliability, and resilience, enabling customers to meet increasing energy demand without power disruptions and maximize the value of excess energy. The successful closing of this offering underscores investor confidence in ESS Tech’s mission to accelerate decarbonization safely and sustainably.
For more details, the full press release is available at https://ibn.fm/BUYEF. Additional information about ESS Tech can be found at www.essinc.com.
This offering provides ESS Tech with additional financial flexibility to pursue its growth objectives and advance its iron flow energy storage solutions. The company’s focus on using abundant, non-toxic materials positions it well in the growing market for sustainable energy storage. As the energy transition accelerates, long-duration storage solutions like those developed by ESS Tech are expected to play a vital role in integrating renewable energy sources into the grid.
The implications of this announcement are significant for the clean energy sector. With the proceeds from this offering, ESS Tech can strengthen its balance sheet and invest in production capacity, research and development, and market expansion. This move may also signal to the market that institutional investors are bullish on the long-term prospects of iron flow battery technology. As energy storage becomes increasingly crucial for grid stability and renewable energy adoption, ESS Tech’s ability to secure funding demonstrates the viability of its technology and business model.
