{"id":539158,"date":"2021-09-16T09:03:53","date_gmt":"2021-09-16T13:03:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ess-inc-and-munich-re-expand-industry-leading-warranty-insurance-coverage\/"},"modified":"2021-09-16T09:03:53","modified_gmt":"2021-09-16T13:03:53","slug":"ess-inc-and-munich-re-expand-industry-leading-warranty-insurance-coverage","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ess-inc-and-munich-re-expand-industry-leading-warranty-insurance-coverage\/","title":{"rendered":"ESS Inc. and Munich Re Expand Industry-Leading Warranty Insurance Coverage"},"content":{"rendered":"

\nCompany\u2019s 10-year battery warranty backed by Munich Re now covers Energy Center\u2122\u00a0solution and next-gen electrolyte management system for utility-scale applications
\n<\/h2>\n
\n

PORTLAND, Ore., Sept. 16, 2021 (GLOBE NEWSWIRE) — ESS Inc.<\/a>, the leading manufacturer of safe, low-cost and long-duration energy storage systems, announced expanded coverage of its industry-leading 10-year warranty insurance coverage for its Energy Center product through Munich Re<\/a>, the world\u2019s largest reinsurance company. The innovative policy provides a warranty backstop for ESS Inc.\u2019s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project size or location.<\/p>\n

ESS has also collaborated with Munich Re to similarly expand its Project Cover to ensure a bankable product offering for the Energy Center. The Cover eliminates any technology or business continuity risk for operators and can be extended to provide long-term assurance of project performance to system owners, investors and lenders.<\/p>\n

\u201cAs a leader in the long-duration energy storage industry, we\u2019re constantly looking to innovate and break ground on new programs that increase confidence in our utility-scale storage solutions,\u201d said Eric Dresselhuys, CEO of ESS Inc. \u201cWe are pleased to see our partnership with Munich Re continue to grow and now include a comprehensive insurance policy to cover our Energy Center solution built for global utility and IPP markets. This policy continues to position ESS as the leading and most bankable long-duration storage player. Utility-scale project developers and asset owners can now deploy our flow batteries with greater confidence in securing financing, system operations, and successful performance outcomes.\u201d<\/p>\n

\u201cWe stand firmly behind ESS Inc.\u2019s flow battery technology and are pleased to see their strong commitment and progress in technology innovation,\u201d said Michael Schrempp, global head of green tech solutions at Munich Re. \u201cOur goal in providing a comprehensive policy across their product line is to enable ESS to expand deployment of its solution at scale globally.\u201d<\/p>\n

\n About Munich Re<\/strong>
\n
Munich Re is one of the world\u2019s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world\u2019s most sought-after risk partners for businesses, institutions, and private individuals.<\/p>\n

\n About ESS Inc.<\/strong>
\n
ESS Inc. designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse\u2122 and Energy Center\u2122 use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world\u2019s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information visit www.essinc.com<\/u><\/a>.<\/p>\n

ESS recently announced it would become a public company through a merger with a special purpose acquisition company, ACON S2 Acquisition Corp. (NASDAQ: STWO). Closing of the merger is subject to approval by the shareholders of both ESS and ACON S2 Acquisition Corp. and the satisfaction or waiver of certain other conditions.<\/p>\n

\n Additional Information and Where to Find It<\/strong>
\n
This communication is being made in respect of the proposed transaction involving ESS and ACON S2 Acquisition Corp. (\u201cACON S2\u201d). A full description of the terms of the transaction is provided in the registration statement on Form\u00a0S4 (File\u00a0No.\u00a0333-257232) filed with the SEC by ACON S2 that includes a prospectus with respect to the combined company\u2019s securities to be issued in connection with the business combination and a proxy statement with respect to the shareholder meeting of ACON S2 to vote on the business combination.\u00a0ACON S2 urges its investors, shareholders and other interested persons to read, when available, the preliminary proxy statement\/prospectus as well as other documents filed with the SEC because these documents will contain important information about ACON S2, ESS and the transaction.\u00a0After the registration statement is declared effective, the definitive proxy statement\/prospectus to be included in the registration statement will be mailed to shareholders of ACON S2 as of a record date to be established for voting on the proposed business combination. Once available, shareholders will also be able to obtain a copy of the\u00a0S4, including the proxy statement\/prospectus, and other documents filed with the SEC without charge, by directing a request to: ACON S2, 1133 Connecticut Avenue NW Suite 700, Washington, DC 20036. The preliminary and definitive proxy statement\/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC\u2019s website (www.sec.gov).<\/p>\n

\n Participants in the Solicitation<\/strong>
\n
ACON S2\u00a0and ESS\u00a0and their respective directors and officers may be deemed to be participants in the solicitation of proxies from ACON S2\u2019s stockholders in connection with the proposed transaction. Information about ACON S2\u2019s directors and executive officers and their ownership of ACON S2\u2019s securities is set forth in ACON S2\u2019s filings with the SEC. To the extent that holdings of ACON S2\u2019s securities have changed since the amounts printed in ACON S2\u2019s Registration Statement on\u00a0Form\u00a0S-1,\u00a0such\u00a0changes\u00a0have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement\/consent solicitation statement\/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.<\/p>\n

\n No Offer or Solicitation<\/strong>
\n
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of ACON S2, ESS or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.<\/p>\n

\n Forward-Looking Statements<\/strong>
\n
This communication contains certain forward-looking statements, including statements regarding ACON S2\u2019s, ESS\u2019 or their management teams\u2019 expectations, hopes, beliefs, intentions or strategies regarding the future. The words \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cintends\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cpotential\u201d, \u201cpredict\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cwould\u201d and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on ACON S2\u2019s and ESS\u2019 current expectations and beliefs concerning future developments and their potential effects on ACON S2, ESS or any successor entity of the proposed transactions. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: (i)\u00a0the risk that the proposed transactions may not be completed in a timely manner or at all, which may adversely affect the price of ACON S2\u2019s securities, (ii)\u00a0the failure to satisfy the conditions to the consummation of the proposed transactions, (iii)\u00a0the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination, (iv)\u00a0the effect of the announcement or pendency of the proposed transactions on ESS\u2019 business relationships, operating results and business generally, (v)\u00a0risks that the proposed transactions disrupt current plans and operations of ESS, (vi)\u00a0changes in the competitive and highly regulated industries in which ESS plans to operate, variations in operating performance across competitors, changes in laws and regulations affecting ESS\u2019 business and changes in the combined capital structure and (vii)\u00a0the ability to implement business plans, forecasts and other expectations after the completion of the proposed transactions, and identify and realize additional opportunities. There can be no assurance that the future developments affecting ACON S2, ESS or any successor entity of the proposed transactions will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond ACON S2\u2019s or ESS\u2019 control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties described in the \u201cRisk Factors\u201d section of ACON S2\u2019s registration statement on Form\u00a0S-1\u00a0(File\u00a0No.\u00a0333-248515), the registration statement on Form\u00a0S4\u00a0(File\u00a0No.\u00a0333-257232) filed in connection with the business combination, and other documents filed by ACON S2 from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Except as required by law, ACON S2 and ESS are not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither ACON S2 nor ESS gives any assurance that either the ACON S2 or ESS, or the combined company, will achieve its expectations.<\/p>\n

\n
\n Contacts<\/u>
\n <\/strong>
\n
Investors:
Erik Bylin
investors@essinc.com<\/u><\/a><\/p>\n

\n Media Contact:<\/strong>
\n
Eugene Hunt
Trevi Communications for ESS Inc.
gene@trevicomm.com<\/a>
978-750-0333 x.101<\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Company\u2019s 10-year battery warranty backed by Munich Re now covers Energy Center\u2122\u00a0solution and next-gen electrolyte management system for utility-scale applications PORTLAND, Ore., Sept. 16, 2021 (GLOBE NEWSWIRE) — ESS Inc., the leading manufacturer of safe, low-cost and long-duration energy storage systems, announced expanded coverage of its industry-leading 10-year warranty insurance coverage for its Energy Center product through Munich Re, the world\u2019s largest reinsurance company. The innovative policy provides a warranty backstop for ESS Inc.\u2019s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project size or location. ESS has also collaborated with Munich Re to similarly expand its Project Cover to ensure a bankable product offering for the Energy Center. The Cover eliminates any … <\/p>\n

Continue reading “ESS Inc. and Munich Re Expand Industry-Leading Warranty Insurance Coverage”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-539158","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nESS Inc. and Munich Re Expand Industry-Leading Warranty Insurance Coverage - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ess-inc-and-munich-re-expand-industry-leading-warranty-insurance-coverage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESS Inc. and Munich Re Expand Industry-Leading Warranty Insurance Coverage - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company\u2019s 10-year battery warranty backed by Munich Re now covers Energy Center\u2122\u00a0solution and next-gen electrolyte management system for utility-scale applications PORTLAND, Ore., Sept. 16, 2021 (GLOBE NEWSWIRE) — ESS Inc., the leading manufacturer of safe, low-cost and long-duration energy storage systems, announced expanded coverage of its industry-leading 10-year warranty insurance coverage for its Energy Center product through Munich Re, the world\u2019s largest reinsurance company. The innovative policy provides a warranty backstop for ESS Inc.\u2019s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project size or location. ESS has also collaborated with Munich Re to similarly expand its Project Cover to ensure a bankable product offering for the Energy Center. 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The innovative policy provides a warranty backstop for ESS Inc.\u2019s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project size or location. ESS has also collaborated with Munich Re to similarly expand its Project Cover to ensure a bankable product offering for the Energy Center. 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