The Gore Street Energy Storage Fund’s international diversification helped it maintain average revenues across its portfolio, which spans the Great Britain (GB), Ireland, Germany and Texas, US.
US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has reaffirmed revenue guidance and expects to achieve a positive contribution margin this year.
Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.
Stem Inc has reaffirmed guidance of positive adjusted EBITDA for 2024, despite starting the year with a 62% year-on-year decrease in reported revenues and a fall in bookings.
Average revenues for the Gresham House Energy Storage Fund doubled from February to April this year, fund manager Gresham House said in its full year 2023 results.
Wärtsilä’s Q1 net sales in its energy storage and optimisation (ES&O) business division fell 75% year-on-year, with revenues to be recognised as projects move toward completion later in the year.
Tesla made ‘all-time high’ energy storage deployments in the first quarter of this year, ‘leading to record profitability’ for its energy business line, CEO Elon Musk has said this week.
Eos Energy Enterprises, ESS Inc and Energy Vault have increased their revenues and narrowed losses, according to financial results from the three ‘non-lithium’ energy storage companies.
US energy storage provider and renewable asset management services group Stem Inc. has confirmed guidance that it will be EBITDA positive throughout 2024.
