ESS Tech Q2 revenue miss; secures $50M EXIM funding; cash >$74M

ESS Tech, Inc.

2024-Q2 EPS reported -$0.23 revenue$3,086,000

Cash & short-term investments >$74M; expected to fund operations well into 2025.
Finalizing up to $50M EXIM funding; ~$10M lookback add to Q2 balance sheet.
Revenue in Q2 lower than expected due to partner delays; expects recovery in Q3.
CEC granted $10M for SMUD 3.6 MW/8-hr iron flow project; SMUD to add $19.5M.
Began production of second Energy Center for PGE; first EC now cycling.

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