ESS Announces Actions to Position the Company for the Future

ESS Tech, Inc. (ESS) (NYSE:GWH), a leading manufacturer of iron flow long-duration energy storage (LDES) systems for utility- and commercial- scale applications, announced changes with the intent to take the business in a new strategic direction:

• Eric Dresselhuys has resigned from the role of CEO and as a member of the Board of Directors of the Company.
• Kelly Goodman, current Vice President of Legal, has been appointed interim CEO.
• Ms. Goodman will be supported by an Office of the Interim CEO, created to lead this effort. The Office of the Interim CEO will include Ms. Goodman, Tony Rabb, current CFO, and Ben Heng, current EVP of Engineering.
• ESS is now actively bidding on projects for daily cycling applications in the 12 to 24 hour long duration storage market – with initial installations targeted to commence in 2027 – to serve emerging AI/data center driven load needs and to firm baseload renewable production.
• The Board has engaged advisors to evaluate potential commercial or financial transactions to enable this new strategic direction.

“On behalf of the Board, I thank Eric for his leadership at ESS, during which time ESS grew its market share for long duration storage, commercialized new product innovations, established an automated manufacturing line, and introduced new efficiencies into the Company’s operations,” said Harry Quarls, Chairman of the Board. “As we look to the next phase of ESS and the opportunities in the long duration storage market, we are confident that Kelly, Tony, and Ben will work to best position ESS to enter its next stage and maximize value for shareholders.”

"I am deeply honored to have served ESS the past several years, am proud of what we accomplished and the team we have built and remain confident that ESS can further extend its leadership in the LDES industry,” said Mr. Dresselhuys.

“ESS continues its work to accelerate manufacturing of energy storage technology made here in the United States, and we are excited about the new opportunities arising from AI and data center driven load growth,” said Kelly Goodman, interim CEO of ESS. “This vision continues to inspire and drive the important work we do every day, and I am pleased to lead the ongoing efforts to provide safe, sustainable, long-duration energy storage.”

ESS | www.essinc.com