ESS Tech, Inc. Announces Successful Update of Historical Financial Data for PSPC (Acon S2 Acquisition Corp.) | Business and finance


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WILSONVILLE, Ore. – (BUSINESS WIRE) – Dec. 6 2021–

ESS Tech, Inc. (“ESS” or the “Company”) ( NYSE: GWH ), a U.S. manufacturer of long-life batteries for commercial and commercial scale energy storage applications, today announced that it has successfully completed the reprocessing of Acon S2 Acquisition Corp’s legacy financial records. (“ACON”) to ensure compliance with regulatory conditions.

“The restatements required the treatment of certain accounting standards, in particular the reclassification of Class A shares from equity to mezzanine equity, on ACON’s old financial statements. As this issue predates the closing of our merger with ACON, the restatement had no impact on ESS’s operating company, day-to-day operations or financial statements, ”said Amir Moftakhar, CFO of ESS. “I am delighted that we were able to complete and categorize them so quickly and I am grateful for the support of ACON auditors in resolving this issue so effectively.

ESS ( NYSE: GWH ) designs, builds and deploys environmentally sustainable and low cost iron flux batteries for long life large scale commercial energy storage applications requiring 4 to 12 hours of flexible energy capacity. The Energy Warehouse â„¢ and Energy Center â„¢ use the abundant iron, salt and water on earth for electrolyte, resulting in a sustainable and environmentally safe energy storage solution for the environment. global renewable energy infrastructure. Established in 2011, ESS enables project developers, utilities, and commercial and industrial facility owners to transition to more flexible lithium-ion-free storage that is better suited to the grid and the environment. For more information visit www.essinc.com.

Trevi Communications, Inc.

KEYWORD: OREGON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ENGINEERING OTHER ENERGY SERVICES ALTERNATIVE ENERGY MANUFACTURING ENERGY OTHER MANUFACTURING

Copyright Business Wire 2021.

PUB: 12/06/2021 19:42 / DISC: 12/06/2021 19:42

Copyright Business Wire 2021.

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