Iron Flow Battery Manufacturer ESS Tech's Net Loss Widens

10 Aug 2023 CW Team

Manufacturer of long-lasting iron-flow batteries ESS Tech posted a net loss of $22.93 million in the second quarter of 2023, up 40.89% year over year from a loss of $16.27 million.

The company's efforts to obtain more patents for its iron flow battery technology resulted in a rise in research and development (R&D) expenses, which may be in part responsible for the increase in net loss.

The American business increased its revenue in Q2 2023 by 312% YoY to $2.83 million from $686,000.

R&D costs over the period increased by 20.32% YoY, from $16.17 million to $19.45 million.

In the second quarter, ESS received ten more patents for its iron flow battery technology, bringing its total number of patents held globally to 70. By June 30, 2023, it had submitted 235 patent applications.

A loss of $20.45 million was recorded for the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Additionally, the company reported a loss of $115,000 on the revaluation of common stock warrant liabilities, a 101.33% decrease from a gain of $8.6 million during the comparable period in 2016.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..