‘Company wasn’t ready in 2021’: ESS Inc CEO on pivoting away from iron flow batteries to sodium-ion
AI-summarised brief · reviewed before publication
ESS Inc., a SPAC‑listed energy‑storage firm, has struggled to commercialize its iron flow battery technology, leading to a steep decline in share price and a looming going‑concern warning. In January, investment banker Drew Buckley became CEO and announced a strategic pivot to sodium‑ion batteries, citing cost, timeline, and market acceptance challenges with the iron platform. Buckley plans a corporate overhaul, potential merger with an adjacent energy company, and a renewed focus on scalable, profitable deployments.
💡 Why It Matters
- · The shift signals a broader industry reevaluation of alternative battery chemistries, underscoring the urgency for viable, cost‑effective long‑duration storage solutions.