ESS Tech Stock Surges 175% on Landmark Battery Deal with Salt River Project

ESS Tech shares skyrocketed 176% in pre-market trading after securing a decade-long energy storage agreement with Arizona's Salt River Project. The deal, dubbed Project New Horizon, involves deploying a 5 MW/50 MWh iron FLOW battery system capable of powering 1,125 homes for 10 hours.

The non-lithium technology marks a strategic shift in long-duration energy storage solutions. Interim CEO Kelly Goodman highlighted SRP's leadership in adopting alternative storage technologies, calling the project "a significant validation" for both ESS Tech and the LDES industry.

Despite today's rally, GWH shares remain down 70% YTD amid broader clean energy sector volatility. The Copper Crossing installation demonstrates growing utility-scale demand for sustainable energy infrastructure beyond traditional lithium-ion solutions.