Foreign media report (Business Wire press release): ESS Inc. (NYSE: GWH) announced its Q2 2026 financial results on August 11, 2026, revealing multiple commercial advances in sodium-ion energy storage. The company signed a Letter of Intent (LOI) with Juniper Energy LLC subsequent to quarter end for the deployment of 500 MWh or more of sodium-ion battery energy storage systems, establishing a framework for a long-term partnership. The collaboration begins with a planned 10 MW/80 MWh project in California, expected to utilize the Bridge™ modular sodium-ion AC solution and an ESS Energy Management System, targeting commercial operation in 2027. Juniper has expressed intent to procure 500 MWh or more of ESS systems by 2032. ESS also signed an LOI with Alsym Energy to add 8.5 GWh of U.S.-made sodium-ion cells and modules to its portfolio, extending the non-lithium platform into short- and medium-duration applications historically served by lithium-ion systems.
The company also disclosed a non-binding LOI for a strategic business combination with a private energy-sector company, implying an expected combined enterprise value of approximately $515 million, with ESS shareholders expected to receive an estimated 5%-10% of the combined company upon signing a definitive agreement; the transaction remains subject to due diligence and negotiation. On the product side, market rollout of the Bridge™ modular sodium-ion system has begun, with the first module completed and initial charge/discharge testing underway this week; the first operational Bridge product is expected toward the end of 2026. CEO Drew Buckley said early-stage opportunities across data centers, critical infrastructure, and utility markets are approaching $1 billion since the Alsym LOI. It should be noted that all the above letters of intent are non-binding; actual order sizes and transaction completion remain uncertain.
However, it should be clarified that a Letter of Intent is not a final contract: the 500MWh procurement intent and the 8.5GWh cooperation intent are both non-binding arrangements, and actual scale, timing, and final transaction structure remain subject to definitive agreements. The ~$515 million strategic combination intent is also at a non-binding stage and may be terminated or adjusted. The U.S.