ESS Tech, Inc. Announces Thriving Update to Historical SPAC (Acon S2 Acquisition Corp.) Financials

WILSONVILLE, Ore.–(Business enterprise WIRE)–ESS Tech, Inc. (“ESS” or the “Company”) (NYSE:GWH), a U.S. manufacturer of very long-duration batteries for utility-scale and commercial energy storage programs, declared currently that it has correctly completed the restatement of the legacy economic filings from Acon S2 Acquisition Corp. (“ACON”) to ensure compliance with regulatory prerequisites.

“The restatements demanded addressing particular accounting benchmarks, precisely the reclassification of Class A shares from equity to mezzanine equity, on legacy ACON financials. Because this concern pre-dated our merger closing with ACON, the restatement experienced no affect on ESS’ working business, its present operations or economical statements,” stated Amir Moftakhar, CFO of ESS. “I am happy we had been in a position to finish and file these so swiftly and am grateful for the support of ACON’s auditors in resolving this so effectively.”

About ESS Tech, Inc.

ESS (NYSE: GWH) types, builds and deploys environmentally sustainable, minimal-charge, iron movement batteries for prolonged-duration business and utility-scale vitality storage apps requiring from 4 to 12 hrs of versatile energy capacity. The Electrical power Warehouse™ and Electrical power Center™ use earth-abundant iron, salt, and drinking water for the electrolyte, ensuing in an environmentally benign, extended-everyday living power storage alternative for the world’s renewable electrical power infrastructure. Set up in 2011, ESS permits challenge developers, utilities, and industrial and industrial facility homeowners to make the transition to extra adaptable non-lithium-ion storage that is superior suited for the grid and the ecosystem. For more facts, take a look at www.essinc.com.