ESS Tech Enters Securities Purchase Agreement With Institutional Investors to Raise Capital

ESS Tech reported Q2 2026 revenue of $73,000, down from $2.4M YoY, with a net loss of $15.6M. The company is pivoting to its Bridge sodium-ion platform, with $1B in early-stage opportunities. It has letters of intent for 8.5GWh of cells and 500MWh of systems. Management noted substantial doubt about its ability to continue as a going concern and is pursuing a business combination.

ESS Tech reported Q2 2026 results via an earnings call focused on a shift toward sodium-ion batteries for AI data centers. Management said it repaid $37 million of a $40 million Yorkville promissory note and has $5.6 million cash as of July 31, 2026, with going-concern doubt. It targeted Bridge module testing in August and first full-scale operation by end-2026, plus a proposed business combination with $515 million enterprise value.

ESS Tech, Inc. (GWH) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 ESS Tech, Inc. Announces Second Quarter 2026 Financial Results Accelerating U.S.-Made Sodium-Ion Battery Energy Storage Development with the Bridge™ Modular Sodium-Ion System; Early-Stage Opportunities Approaching $1 Billion Signs Letter of Intent with Juniper Energy

ESS Tech, Inc. (GWH) filed an SEC Form 8-K — Results of Operations and Financial Condition. Item 2.02 Results of Operations and Financial Condition. The information set forth in Item 8.01 is incorporated into this Item 2.02 by reference. The information furnished under this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange

ESS Tech (NYSE: GWH) said it signed a Letter of Intent with Juniper Energy LLC to deploy 500 MWh or more of sodium-ion battery energy storage systems. The initial plan is a 10 MW/80 MWh California project using ESS’s Bridge modular AC solution and EMS, targeted for commercial operation in 2027. Juniper intends to procure 500 MWh+ by 2032, per the companies.

ESS Tech (NYSE:GWH) shares rose 7.88% to $0.87 in regular trading and jumped 15.01% to $1 in after-hours Tuesday. The move followed the company’s announcement of ESS Bridge, a modular sodium-ion BESS with 1.2 MWh per unit expandable to 4.8 MWh, targeting utilities, AI data centers and industry. ESS said it has $1B in early customer opportunities.