What is the size of Gates Energy's headquarters?

The company is headquartered in a 200,000-square-foot facility. It moved to the Portland State Business Accelerator before expanding to its current headquarters.

Who backed the SPAC for ESS, the battery company?

The SPAC for ESS, the battery company, is backed by Breakthrough Energy Ventures (Gates’ clean energy investment firm), SB Energy (a wholly owned subsidiary of SoftBank), and multinational chemical company BASF, among other investors.

Will energy storage be a priority for investors?

A report from Reuters Events, released Dec. 11, said increasing power generation from renewable resources and rising use of electric vehicles will make energy storage a priority for investors in the coming years. The report said storage technology will continue to play a major role in the energy transition as cleaner energy replaces fossil fuels.

How does energy storage work?

The company said its “thermal energy storage technology uses renewable energy to heat carbon blocks to temperatures so hot they glow like the sun,” and then later releases that heat “on demand to the grid as electricity.”

How does 4th power energy storage work?

Fourth Power said its energy storage system converts renewable energy, such as solar or wind power, to thermal energy, which can be stored until needed. The thermal battery heats (Figure 2) liquid tin, and then moves it through a piping system (Figure 3) to “heat stacks of carbon blocks until they glow white hot (Figure 4).

Will energy storage become a priority technology in 2024-2026?

Respondents to a survey of hundreds of energy industry professionals earlier this year said “energy storage will become the priority technology in 2024-2026,” with 43% of respondents “stating that their organization planned to invest in the technology within the next three years,” according to Reuters. 2.