October 28, 2019 – GC Ventures joined a group of investors leaded by Breakthrough Energy Ventures and SoftBank Group's SB Energy, together with Evergy Venture with the investment of $2 million via GC ventures America. The previous round investors who also joined this round are BASF Venture Capital, Cycle Capital Management, Presidio Partners Investment Management, IPM Group, and Pangaea Ventures.

Energy Warehouse Flow Batteries. Source: ESS Inc.

As part of the renewable energy trend, the demand for the long duration energy storage is expected to grow. GC would be able leverage its position as a go to market partner in South East Asia. In addition, energy storage is in the area that GC would like to explore the value chain and look for potential new business opportunities.

About ESS Inc.

Established in 2011, ESS Inc. develops and manufactures the low-cost, long-duration Energy Warehouse™ (EW) flow battery and battery-in-a-building platform, the Energy Center™ (EC). The EW is deployed in commercial and utility-scale energy storage applications requiring 4+ hours of flexible energy capacity and 20+ years of operating life with no capacity fade. The EC uses a design-build approach to support multi-MW projects requiring storage durations up to 10 hours with no cycling limits. ESS Inc.’s flow battery technology utilizes earth-abundant iron, salt, and water for the electrolyte, and delivers an environmentally safe, long-life energy storage solution for the world’s renewable energy infrastructure with the lowest levelized cost of storage per kWh. For more information, visit www.essinc.com.