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ESS Tech Inc

For the period ended Dec 31, 2023. Filed Mar 14, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 14, 2024

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Contents

Item 2. Properties

Our corporate headquarters is located in Wilsonville, Oregon. The approximately 200,000 square foot facility contains both our corporate, engineering, and administrative functions as well as our automated and semi-automated battery manufacturing lines. During 2023, the facility had the capacity to manufacture approximately 800 MWh of batteries annually. We are currently in the process of procuring a new automated battery manufacturing line sized at 600 MWh and plan to retire our original semi-automated line (112 MWh), thus bringing our total battery manufacturing capacity to 1.288 GWh annually.

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Over time, we plan to increase efficiency at the Wilsonville facility to scale manufacturing capacity up to 2,000 MWh. We also envision opening additional manufacturing facilities globally. This global expansion plan may include the following levers that are currently under consideration:

Strategic investments in the supply chain to grow capacity;

Rollout of redesigned automation cells, which we expect will increase efficiency in production;

Energy Warehouse and Energy Center production expansion to Europe and/or Australia;

Production of power modules in Europe; and

Vertical integration of power module comportments.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.