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Energy Storage Systems is a technology company.
ESS Inc. develops and manufactures long-duration energy storage systems based on proprietary iron flow battery technology. These solutions offer safe and sustainable energy capacity for up to 12 hours, addressing intermittency challenges inherent in renewable energy sources. The company provides various products, including the Energy Warehouse for commercial and industrial applications, as well as utility-scale grid deployments.
Craig Evans and Dr. Julia Song co-founded ESS Inc. in 2011, originating their work from a garage. Their insight derived from deep expertise in chemistry, electrochemistry, fuel cells, and advanced material science, recognizing the urgent need for durable, sustainable energy storage to support a transitioning energy landscape.
The company's products serve commercial, industrial, and utility customers seeking grid resilience, optimized renewable asset integration, and enhanced energy independence. ESS Inc.'s vision is to accelerate the global energy transition, ensuring accessible, clean, and reliable power for a sustainable future.
Energy Storage Systems has raised $33.4M across 3 funding rounds.
Energy Storage Systems has raised $33.4M in total across 3 funding rounds.
Energy Storage Systems has raised $33.4M in total across 3 funding rounds.
Energy Storage Systems's investors include Carmichael Roberts, Rich Hossfeld, BASF Venture Capital, Cycle Capital Management, Evergy Ventures, IPM Group, Pangaea Ventures, Presidio Partners, PTT Global Chemical, Andrew Haughian, Element 8.
Energy Storage Systems Inc. (ESS Inc.) develops proprietary all-iron flow battery technology for long-duration energy storage (LDES), providing safe, cost-effective, and environmentally friendly solutions that store up to 22 hours of energy with unlimited cycling and zero capacity degradation over 25 years.[1][2] The company serves light commercial and industrial users, AI data centers, and electrified grids facing high solar penetration or time-of-use pricing, solving intermittency issues by converting excess renewable energy into reliable baseload power, reducing electricity costs by over 33% and minimizing outage impacts.[1][2] Founded in 2011 in Portland, OR, ESS has grown from prototype stage to deploying scalable products like the Energy Base line, amid surging demand for LDES to support 8 TW global deployment by 2040.[1][2]
ESS Inc. was founded in March 2011 by CEO Craig Evans, who brought over 15 years of renewable energy product development experience from United Technologies Corp. and ClearEdge Power Inc., along with 15+ patents; he holds an MBA from Carnegie Mellon and an MS in Mechanical Engineering from Clarkson University.[1] CTO Dr. Xiaolei Song joined in April 2012, contributing her VP of R&D role at ClearEdge Power, a PhD in Chemistry from UNC-Chapel Hill, 20 publications, and 10+ patents.[1] The idea emerged from the need for safer, cheaper alternatives to lithium-based storage, leading to early traction with prototype-ready all-iron flow batteries targeting US commercial users with solar and pricing challenges.[1]
ESS stands out in the energy storage market through these key advantages:
ESS rides the LDES megatrend, enabling intermittent renewables like solar to deliver baseload power as grids electrify and AI data centers drive 165% US demand growth by 2030, requiring 8 TW global storage by 2040 for net-zero goals.[2] Timing is ideal post-2011 founding, aligning with utility-scale shifts from lithium (e.g., AES/Fluence) to durable flow tech amid supply chain vulnerabilities and fire risks.[1][2][3] Favorable forces include policy incentives for clean tech, solar proliferation, and grid resiliency needs; ESS influences the ecosystem by proving iron flow viability for commercial/industrial scale, complementing giants like Tesla's Megapack while differentiating on longevity and safety.[1][2][4]
ESS is poised to capture LDES market share with its Energy Base expansion, targeting AI-driven demand and grid modernization through 2040. Trends like AI electrification, renewable mandates, and flow battery maturation will accelerate growth, potentially evolving ESS from prototype innovator to tier-1 supplier via partnerships and scaling. As grids demand reliable baseload from renewables, ESS's iron flow tech—safe, endless-cycling, and cost-slashing—positions it to power the clean energy backbone.[1][2]
Energy Storage Systems has raised $33.4M across 3 funding rounds. Most recently, it raised $30.0M ESS - Series C in October 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 28, 2019 | $30.0M ESS - Series C | Carmichael Roberts, Rich Hossfeld | BASF Venture Capital, Cycle Capital Management, Evergy Ventures, IPM Group, Pangaea Ventures, Presidio Partners, PTT Global Chemical |
| Oct 7, 2015 | $3.2M ESS - Series A | Andrew Haughian | Element 8 |
| Jan 1, 2015 | $150K Pre-seed |