ESS is one of the known solar installation companies and manufactures environment-friendly products. Renewable energy is the mission of the company and they have an eye over the batteries that will use iron, salt, and other elements.
In this article, we are going to discuss a solution that has been provided by the ESS. As per the proposed solution, they can store the energy for a long period but to process it they should make the batteries that will have the elements of salt, water, and iron. This is an economical approach and readily available.
Challenges of Global Warming
In the existing technology, the companies are using lithium and cobalt to make the batteries. The world is facing the challenges of climate change and global warming. To cope with these emerging issues, there is a dire need to formulate a specific policy that directly helps the earth.
Bill Gates supported the cause of making batteries with salt, water, and iron. In addition to this, right after the announcement, the company has received several investment offers. It is pertinent to mention here that few powerful stakeholders including Bill Gates have already invested 57 million dollars.
CNBC said that there will be more offerings to the company if they keep working on the matter since it will invent new and environment-friendly batteries. The news has gone public today after the announcement of Mr. Gates. This will impact positively on the share price of the product since there are chances that the company will gain a 300 million dollars deal done.
As far as the historical importance of the company is concerned, it was launched by the couple who got married after being business partners. The company was established with the intent to make the best eco-friendly products.
The financial figures of the company tell that they did not earn a single penny yet. The task of the company is very important, they have consistently worked on the matter. Additionally, many investors are looking to invest in this company to help the cause.
Iron, salt, and water: Safe
The recent announcement of Bill Gates has made the ESS on top because this is going to be a breathtaking investment. ESS claimed that they have multiple projects in the pipeline that will come in force in the coming days.
As we discussed the financial details of the company, according to the ESS, they have lost somewhere around 245 million dollars in the half-year of 2021. On the other hand, the operating loss of the company was 19 million dollars.
The new technology will work because it will eliminate the use of lithium. In addition to this, the battery life of the battery will also be way longer than the existing ones. It is imperative to know that the new energy technology is amazing and replacing lithium has convinced and inspired Bill Gates.
There is a need to make eco-friendly products because the absence of this will give rise to climate change and global warming issues.