ron flow battery provider ESS Inc has revealed a US$477 million net loss in 2021, in its first full-year results since becoming a publicly-traded company on the New York Stock Exchange (NYSE).
Fluence could raise more than US$700 million from the planned initial public offering (IPO) of its Class A common stock which would be listed on the Nasdaq Global Market.
Canadian Solar has seen a “surge in demand for battery storage capacity,” CEO Dr Shawn Qu said, as the vertically-integrated solar PV company reported its latest quarterly financial results.
Battery storage could play the same role on the grid as a proposed 60MW natural gas and fuel oil peaker plant in Massachusetts and not only result in lower emissions but also in cost savings.
Stem Inc claimed to be on track to achieve its 2021 full year revenue guidance of US$147 million, after reporting a year-over-year increase in revenues of 245% for the first quarter ending 31 March.
Vertically-integrated solar PV company Canadian Solar won nearly 1GWh of battery storage contracts in 2020 and CEO Shawn Qu has said it expects to “capture around 10% of the battery storage market in the US alone” during this year.
Energy storage systems were historically used for grid balancing purposes within Europe, limiting their use to such applications or to be considered as “auxiliaries” to renewable generation assets. However, as market prices evolve and new revenue streams emerge, stakeholders must discover the diverse applications energy storage can tap into, writes Naim El Chami.
