Product & Technology - ESS launched the Energy Base, a new product featuring modular powertrains called the Iron Core, designed for gigawatt-hour storage capacity[11, 20] - The Energy Base extends duration up to 22 hours by scaling electrolyte volume, unlocking green baseload power and reducing $/kWh cost[29] - ESS iron flow battery modules are capable of storing up to 22 hours of energy[29] Market & Strategy - Data centers' electricity demand is estimated to grow to 800 TWh by 2026, putting pressure on infrastructure[33] - Power disruption accounts for 54% of impactful data center outages[36] - ESS products offer a safe, scalable, and cost-effective alternative to gas generators for data centers[34] Financial Performance - Q3 2025 revenue was $0.2 million, a 40% decrease compared to $0.4 million in Q3 2024[50] - Q3 2025 net loss was $10.4 million, a 54% improvement compared to $22.5 million in Q3 2024[50] - Adjusted EBITDA for Q3 2025 was a loss of $7.17 million, a 62% improvement compared to a loss of $18.87 million in Q3 2024[50, 52]