ESS to Deliver Long-Duration Energy Storage Solutions to Sapele Power to Improve Generation Efficiency [Yahoo! Finance]
ESS Tech, Inc. (GWH)
Company Research
Source: Yahoo! Finance
WILSONVILLE, Ore., May 07, 2024 BUSINESS WIRE )--ESS Tech, Inc. ("ESS") ( NYSE : GWH), a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, today announced that it has partnered with Sapele Power Plc ("Sapele"), a leading Nigerian integrated energy company specializing in power generation, to provide an initial 1 MW / 8 MWh of long-duration energy storage. This agreement represents the largest battery storage system export to Africa financed by the Export-Import Bank of the United States of America to date and will improve the efficiency of Sapele's existing assets by providing ancillary services. According to the International Energy Agency , an estimated 40% of all the electricity consumed in Nigeria is produced from backup generators due to unreliable power supply caused by limited grid infrastructure, underinvestment and ineffective regulatory frameworks. Projects such as this demonstrate the opportunity to improve
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GWH
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GWH
Earnings
- 5/7/24 - Beat
GWH
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- GWH's page on the SEC website