Bill Gates-backed battery company gets an outperform rating from Cowen

A worker inputs data from an Energy Warehouse, housing iron-flow batteries, at the Energy Storage Systems Inc. (ESS Inc.) facility in Wilsonville, Oregon, U.S., on Wednesday, Sept. 28, 2021.
Tojo Andrianarivo | Bloomberg | Getty Images

Newly public battery company ESS is tackling a key issue with renewable energy — what to do when the sun isn't shining — and it's well positioned for the long term, Cowen said in a note to clients.

The firm launched coverage on the Bill Gates-backed company with an outperform rating, pointing to ESS' "differentiated low cost technology."

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