Cycle, Pangaea invest in $13 mln Series B financing of ESS
ESS Inc, a U.S. maker of safe, low-cost and long-duration flow energy storage systems, has secured US$13 million in a Series B financing. The round was backed by new investors, including European chemical company BASF SE and Canadian venture capital firm Cycle Capital Management. They were joined by existing investors, including Canadian venture capital firm Pangaea Ventures, which led the company's Series A in 2015. The funds raised will allow ESS to expand and automate the manufacturing process of its iron flow battery and support business development. Portland, Oregon-based ESS was founded in 2011.
13 December 2017•3 mins read
