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ESS Tech Expands Manufacturing with EXIM Support
Slice of Manufacturing Team
August 08, 2024
Key Highlights:
ESS Tech Inc. hosts ribbon-cutting for expanded manufacturing capacity.
Supported by EXIM’s $50M Make More in America Initiative financing.
Expansion to triple production of proprietary iron flow battery modules.
ESS projects span U.S., Europe, Australia, and Africa.
Partnerships with global companies like Honeywell, LEAG, and Stanwell.
Source (Business Wire)
Notable Quotes:
“Today is definitely a blue-ribbon day for jobs in Oregon and green energy in America. Cutting the actual ribbon here at ESS on one of our state’s most advanced energy storage manufacturing facilities is a powerful testament to Oregon’s leadership in clean technology.”
“EXIM’s Make More in America initiative aims to support American jobs and U.S.-based companies working to meet global demand for critical technologies. As a leading commercial manufacturer of advanced energy storage technology, ESS was an obvious choice.”
“Make More in America enables EXIM to support U.S. jobs and U.S. supply chains by providing key financing tools for goods and services in critical export-oriented industries like renewable, sustainable energy, manufacturing and transportation.”
Our Take:
The partnership between ESS Tech and EXIM highlights a strategic move to bolster U.S. manufacturing capabilities in the renewable energy sector. This collaboration not only supports domestic job creation but also strengthens the global supply chain for long-duration energy storage systems, essential for meeting international decarbonization targets. The $50 million financing underscores the importance of sustainable energy solutions and the role of advanced technology in achieving climate goals. As ESS scales up production, its impact on both the local economy and global energy markets will be substantial, setting a precedent for future investments in clean technology.