Today I posted by one-hundred-ninety-fifth YouTube video: Quick Pick ESS Tech.
This week’s Quick Pick is: ESS Tech (NYSE: GWH) This iron flow battery company has been around since 2011 but it is very much at the first sales stage. So, like a lot of early-stage companies without very much revenue, its shares have been crushed. The 52-week range on this stock is $21.37 down to $2.60. On October 19 the stock was trading near $3.70. Given that volatility and the current Bear Market, I’d definitely recommend dollar-cost-averaging. ESS Tech sells iron flow batteries. Flow batteries are less mobile than lithium-ion batteries due to their size, but they’re a much better match than lithium-ion batteries for utility-scale energy storage. Unlike lithium batteries which see their capacity to store energy degrade with each change, flow batteries show no capacity degradation over a 25-year life cycle. Flow batteries are also much less temperature sensitive than lithium-ion batteries so they don’t require expensive heating and cooling systems. That adds up to a very low cost of ownership. ESS is starting to sell what it calls “energy warehouses” to utilities and recently signed a deal with Tampa Electric to support its Big Bend Solar Project. This early-stage company’s revenue in the second quarter was only $686,000, but it is ramping up a second manufacturing line to support a higher level of sales. and we’re seeing sales move forward. I think flow batteries are going to be a big part of the renewable energy ecosystem, and ESS is one of the best pure plays that I’ve found.
Here’s the link:
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