ESS Tech closes orders for $2.5M revenue & $1M PTC sale in Q2; still needs near-term funding

ESS Tech, Inc.

Closed additional Energy Warehouse and Energy Center orders as part of inventory movement strategy.
Orders credited to existing equipment deposits, enabling $2.5M revenue recognition in Q2.
Expects to sell Production Tax Credits totaling ~$1M in Q2, improving cash but limited liquidity.
Company reiterates going concern disclosure; needs additional funding in near term.
No assurance on timing or success of Energy Base product sales or capital raising efforts.

item 8.01

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