ESS Tech Raises $130M in PIPE

ESS Tech has successfully raised $130M in a PIPE at a $400M valuation led by Breakthrough Energy Ventures, SoftBank Vision Fund, Evok Innovations.

Company Overview

ESS Tech is a Energy Storage company headquartered in 10870 SW Boeckman Road, Wilsonville, OR 97070, founded in 2011 with 150+ employees.

Long-duration iron flow batteries

Fundraising Details

Amount Raised: $130M
Round Type: PIPE
Valuation: $400M
Date: 2024-09-19
Investors: Breakthrough Energy Ventures, SoftBank Vision Fund, Evok Innovations

About ESS Tech

Long-duration iron flow batteries The company is positioned in the Energy Storage sector, serving a growing market with innovative solutions.

Key Information

Headquarters: 10870 SW Boeckman Road, Wilsonville, OR 97070
Founded: 2011
Team Size: 150+
Industry: Energy Storage

What This Means

This funding round demonstrates strong investor confidence in ESS Tech's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Energy Storage sector continues to attract significant investment as companies innovate to meet evolving market demands. ESS Tech's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $400M valuation marks an important milestone for ESS Tech, positioning the company among notable players in the Energy Storage industry.

Looking Ahead

With this new capital, ESS Tech is well-positioned to execute on its growth strategy and continue building innovative solutions in the Energy Storage space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-09-19. For more information about ESS Tech, visit their headquarters at 10870 SW Boeckman Road, Wilsonville, OR 97070.