ESS Closes $30M Series C Financing

Monday, October 28th, 2019

Breakthrough Energy Ventures leads $30M investment in ESS

ESS 's breakthrough FeCl2 flow battery technology
ESS 's breakthrough FeCl2 flow battery technology

ONAMI portfolio company Energy Storage Systems of Wilsonville, OR announced today that they have closed a $30M Series C financing led by the BIll Gates-initiated Breakthrough Energy Ventures fund, which also includes Michael Bloomberg, Jeff Bezos, Richard Branson, Jack Ma and Masayahi Son as investors.  See the Portland Business Journal story here.

These farsighted investors realize that lithium is NOT the long term answer to grid (or other non-short-term) electrical energy storage, and have validated the breakthrough FeCl2 redox flow battery technology invented and commercialized by ESS.

ONAMI is proud to have invested the first outside funding into ESS and is not surprised to see the strategic vision of Craig Evans and Julia Song to bet on the low-cost and entirely benign iron cholride chemistry validated by the most strategic investors in clean energy..

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