ESS has laid off most of its approximately 200 workers and is desperately seeking a way to stay afloat. Powin is in bankruptcy, trying to restructure with about a sixth of its former 500-person workforce.
So when I got the leader of another Portland metro grid energy storage company on the phone recently, an obvious question was if it, too, was facing existential risk.
The short answer: No.
“We’re very fortunate to have strong backing from the beginning,” GridStor CEO Chris Taylor said. “We have deployed only a fraction of the capital that we originally raised, and we have been prudent and thoughtful about making investments to preserve our ability to deploy capital.”
GridStor, headquartered in Inner Southeast Portland, was founded in 2022 and is owned by funds managed by Goldman Sachs Asset Management.
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