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, raising approximately $15 million. The transaction involved 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. Aggregate gross proceeds totaled approximately $15 million, and the offering closed on Jan. 30, 2026.
Net proceeds from the offering, 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. The company highlighted that the capital infusion will support its mission to accelerate decarbonization safely and sustainably through longer-lasting energy storage solutions.
ESS Tech's iron flow technology uses easy-to-source iron, salt, and water, enabling energy security, reliability, and resilience. The company builds flexible storage solutions that help customers meet increasing energy demand without power disruptions and maximize the value potential of excess energy. The registered direct offering was conducted under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.
This capital raise comes at a time when the energy storage sector is experiencing heightened interest due to the global push for renewable energy integration and grid stability. Long-duration energy storage is critical for balancing intermittent renewable sources like solar and wind, and ESS Tech's iron flow technology offers a safe, sustainable alternative to lithium-ion batteries. The company's ability to secure funding from institutional investors signals confidence in its technology and market position.
For more details on the offering, the full press release is available at https://ibn.fm/BUYEF. Additional information about ESS Tech and its products can be found at www.essinc.com.
