ESS Tech Inc (GWH)

Over the past six months, ESS Tech, Inc.'s stock has experienced significant fluctuations, declining by 68.52% from $6.13 on January 7, 2025, to $1.93 on January 6, 2026. Key events impacting the stock include reporting a 78% year-over-year revenue decline for Q1 2025, announcing technical milestones for its iron flow long-duration energy storage (LDES) systems, Q2 2025 results showed a substantial 578% year-over-year revenue surge to $2.4 million, announcing a new 50 MWh long-duration energy storage pilot project with Salt River Project (SRP), closing a $40 million financing transaction, Q3 2025 financial results reported revenue of $0.21 million and plans were announced to launch a $75 million at-the-market (ATM) program, and Drew Buckley was appointed as the new Chief Executive Officer.

There is no explicit information indicating seasonality in the demand for ESS Tech's products and services. Instead, the demand for its long-duration energy storage (LDES) solutions is driven by the broader need to support intermittent renewable energy sources and address the increasing electricity demands from data centers and artificial intelligence (AI) applications. The company's future growth is closely tied to the successful execution of its pivot to the next-generation Energy Base platform and its ability to scale manufacturing capabilities to meet this growing market need.

ESS Tech, Inc. specializes in designing and producing iron flow batteries for commercial and utility-scale energy storage applications globally, operating within the Industrials sector, specifically in the Electrical Equipment & Parts industry. Its primary products include the Energy Warehouse, Energy Center, and Energy Base, utilizing earth-abundant materials like iron, salt, and water, offering a non-flammable and non-toxic alternative to lithium-ion batteries.

ESS Tech, Inc. is headquartered in Wilsonville, Oregon, United States, and its products are designed for commercial and utility-scale energy storage applications worldwide.

In the past year, ESS Tech has received positive recognition for its innovation and commitment to green technology, being named one of TIME's Top GreenTech Companies in America 2025 and one of Fortune's Most Innovative Companies in America 2025. This recognition highlights the company's dedication to research and development and the commercialization of safe and sustainable iron flow technology. The company also holds a significant intellectual property portfolio, with over 103 patents awarded and 214 pending patent applications for its iron flow technology.

The ownership structure of ESS Tech (GWH) stock is a mix of institutional, retail, and individual investors. Institutional investors hold approximately 15.97% to 20.55% of the company's stock, while insiders own about 3.93%. Public companies and individual investors (retail) hold approximately 75.52% of the stock. Major institutional owners include Softbank Group Corp, Arosa Capital Management LP, Vanguard Group Inc, Geode Capital Management, Llc, BlackRock, Inc., FMR Llc, Jane Street Group, Llc, Green Alpha Advisors, Llc, Yorkville Advisors Global, Lp, and Renaissance Technologies Llc. Vanguard Group Inc. is noted as owning the most shares among institutional investors.