ESS Tech, Inc. (“ESS”) (NYSE: GWH), has become aware of a clerical error posted on the NASDAQ website related to the shareholdings in the company by Softbank Group Corp. (Softbank).
The website erroneously showed that Softbank’s holdings in ESS had decreased significantly in the fourth quarter of 2023. Softbank’s holdings of 35,953,699 shares were unchanged from the third quarter and have in fact remained unchanged since ESS’s listing as a publicly traded company in October 2021. Softbank remains ESS’s largest shareholder.
NASDAQ has advised that the website will be corrected.
About ESS
At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long- duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.
Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.
Contacts:
Investors:
Erik Bylin
[email protected]
Media:
Morgan Pitts
503.568.0755
[email protected]
Forward-Looking Statements
This communication contains certain forward-looking statements regarding ESS and its management team’s expectations, hopes, beliefs, or intentions regarding the future. The words “estimate”, “expect”, “will” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the Company’s ability to execute on orders, the Company’s relationships with customers, and the status of ESS product development and manufacturing. These forward-looking statements are based on ESS’ current expectations and beliefs concerning future developments. Many factors could cause actual future events to differ materially from such expectations, including, but not limited to, disruptions, or quality control problems in the Company’s manufacturing operations; as well as those risks and uncertainties set forth in the section entitled “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the nine months ended September 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on November 14, 2023, and its other filings filed with the SEC. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.