Energy storage technology firms Eos and Energy Vault have both released their Q2 results, with contrasting figures but both still having a long way to go to scale up and reach profitability.
Battery energy storage system (BESS) integrator Fluence had a mixed third financial quarter, with a revenue fall and a narrowing down of its full-year guidance, but a record quarterly intake and increased profit margins.
US system integrator Stem Inc has seen its share price fall by over 40% after its financial results for the second quarter of the year, which saw falling sales, bookings and a huge net loss.
System integrator Fluence Energy and investor Excelsior Energy Capital have entered into a supply agreement for 2.2GWh of BESS, which Fluence claims will utilise US-manufactured battery cells and modules.
LG Energy Solution saw its revenues fall 30% in the second quarter of the year amidst a global EV market slowdown, and the company says its ESS segment could help offset this.
The Electric Reliability Council of Texas (ERCOT) has continued its 2024 energy storage deployment charge after it cleared 650MW worth of battery storage capacity for commercial operation during the month of June, according to the system operator’s monthly generation interconnection status report.
Jupiter Power has completed and put into commercial operation a BESS project provided by technology firm and system integrator Energy Vault in the ERCOT, Texas market.
