Global battery energy storage system (BESS) integrator Fluence saw a record order intake of US$1.1 billion in the first quarter of its 2024 financial year, but slipped back into a net loss, possibly reflecting seasonality.

Wärtsilä’s energy storage division saw a 20% year-on-year increase in sales and a 31% increase in order intake from 2022 to 2023, with the company board in mid-consideration of the business unit’s future.

The UK battery storage market is suffering a “weak revenue environment”, with assets not able to participate in balancing the GB grid or replacing gas-fired generation to their fullest capability, according to Gresham House Energy Storage Fund.

Global demand for batteries for energy storage system (ESS) applications will grow 30% during this year, with the US leading the charge, LG Energy Solution has predicted.

Tesla’s energy storage and generation revenues have tripled since 2020, largely driven by deployments of Megapack battery storage systems.

The Gore Street Energy Storage Fund’s results for the first half of its financial year have demonstrated the benefits of its internationalisation strategy, though its net asset value (NAV) per share fell slightly.

Global battery storage system integrator Fluence has released its Q4 and full-year results, which included the “transformative milestone” of achieving a positive net profit for the first time, CEO Julian Nebreda said.

Wärtsilä’s decision to launch a strategic review of its energy storage & optimisation (ES&O) business, including potential divestment, may be because of its dilutive effect on the broader company’s margins, an analyst told Energy-Storage.news.

Another look at the fortunes of a trio of long-duration energy storage (LDES) providers with non-lithium technologies.

Stem Inc has made a company record US$676 million of order bookings in Q3 2023 and expects to turn a profit during this year.