Honeywell and ESS Tech Collaborate to Advance Iron Flow Battery Energy Storage

Honeywell has invested $27.5 million in ESS common stock and plans to purchase $300 million in ESS products, with $15 million prepaid, to advance the adoption of iron flow battery (IFB) energy storage systems. The collaboration allows Honeywell to integrate ESS technology into its global offering, while ESS gains a license to Honeywell's flow battery intellectual property. The partnership aims to accelerate the development, cost reduction, and packaging of IFB systems, addressing the growing demand for long-duration energy storage in the transition to renewable energy.