ESS Tech Powers Ahead: Delivers Record-Breaking Q4 2025 Results
The ESS Tech fourth quarter and full year 2025 financial results conference call has revealed a thriving business, with significant commercial progress and strengthened balance sheet.
CEO Drew Buckley highlighted the company's headline for 2025: execution on restructuring, meaningful commercial progress, and a significantly stronger balance sheet. The key milestones include a $9.9 million contract from Concurrent Technologies Corporation and the U.S. Air Force Research Laboratory for a long-duration energy storage system to be deployed at U.S. Clear Space Force Station in Alaska.
This landmark win demonstrates that American-made iron flow storage is ready for mission-critical defense applications, showcasing ESS Tech's growing presence in the industry. The company also announced Project New Horizon, a 5 MW, 50 MWh system to be installed at Salt River Project's Copper Crossing Energy and Research Center in Florence, Arizona.
Google has been confirmed as an offtaker and will provide cost sharing and multi-year operational testing. Manufacturing is expected to begin this year in 2026, with delivery targeted for December 2027. This partnership marks a transformational step forward, bringing together a major Southwest utility backed by one of the world's largest energy loads with significant sustainability and resiliency goals.
The company has also made important changes on the leadership front, with Kelly Goodman transitioning to the role of Chief Strategy Officer and General Counsel, and Kate Suhadolnik being appointed as permanent CFO. Furthermore, ESS Tech acquired the intellectual property and assets of VoltStorage in February 2026, deepening its technological moat and adding meaningful patent coverage in the long-duration iron flow space.
Evidence of ESS Tech's success is clear in its FY 2025 operational updates. The company's flagship product, the Energy Base, has seen significant adoption, with a growing pipeline and tier one customers like Salt River Project, Google, and the U.S. Air Force already on board.
ESS Tech's iron flow technology offers unlimited cycling with zero capacity degradation over a 25-year life, making it a highly attractive solution for utility-scale grids, hyperscaler data centers, industrial microgrids, and defense installations. With its products manufactured in Wilsonville, Oregon, the company is proud to be one of the only American-made, American-sourced long-duration storage solutions available today.
Looking ahead, ESS Tech's pipeline and go-forward strategy appear strong, with a clear focus on delivering high-quality, long-duration energy storage systems that meet customer needs. As the company continues to execute its vision for accelerating decarbonization safely and sustainably, investors can expect continued growth and innovation from this leading manufacturer of iron flow energy storage solutions.
