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ESS raises USD 50 million from US Export-Import Bank to expand manufacturing capacity
Alternative Energy
Jun 28, 2024
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Alternative Energy

Alternative Energy

Jun 28, 2024

ESS raises USD 50 million from US Export-Import Bank to expand manufacturing capacity

Funding

  • ESS, a long-duration energy storage provider, has secured a USD 50 million debt financing package from the US Export-Import Bank under the "Make More in America" initiative. This brings the company's total financing to USD 374.5 million.

  • The funding will expand the company’s manufacturing capacity in Wilsonville, Oregon, to meet growing global demand for its long-duration energy storage solutions. This will enable the company to triple its annual production capacity.

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