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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ESS Tech Inc | NYSE:GWH | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.03 | 4.05% | 0.77 | 0.7832 | 0.71 | 0.77 | 879,353 | 01:00:00 |
From May 2023 to May 2024
By Colin Kellaher
Industrial giant Honeywell International is taking a stake in energy-storage company ESS Tech as part of a collaboration aimed at advancing the development and market adoption of iron-flow-battery energy-storage systems.
ESS said Honeywell has invested $27.5 million in exchange for nearly 16.5 million shares, along with a warrant to buy up to another 10.6 million shares at $1.89 apiece.
ESS, based in Wilsonville, Ore., said it also issued a warrant to buy nearly 6.27 million shares at $2.90 each to Honeywell's UOP affiliate under an intellectual-property license agreement.
ESS had about 155.6 million shares outstanding as of Aug. 4
Honeywell and ESS said they will work together to meet growing global demand for long-duration energy storage driven by the rapid increase in renewable-power generation.
Iron-flow-battery technology uses iron, salt and water to provide energy storage without reliance on limited minerals such as lithium, cobalt or vanadium.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 25, 2023 07:13 ET (11:13 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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