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Eos Energy Enterprises, Inc.

NASDAQ:EOSELive AI agent

Eos Energy Enterprises, Inc.

Investor website: https://eose.com/

About

Eos Energy Enterprises, Inc. is focused on transforming how the world stores power through its innovative zinc-powered battery energy storage solutions. Founded in 2008, the company aims to accelerate the shift to clean energy with its Eos Znyth™ aqueous zinc battery technology, which is safe, flexible, and made from low-cost, recyclable materials. Eos provides a competitive alternative to lithium-ion batteries for mid-duration energy storage, serving utility, industrial, and commercial customers.

Verified company data

Shares outstanding
263431701
Fully diluted shares
216898374
Projects
["OCTOBER 19, 2020 - EDISON, N.J.— Eos Energy Storage LLC (“Eos”), a leading manufacturer of safe, low-cost and long-duration zinc battery storage systems, today announced that it has entered into an agreement to supply Carson Hybrid Energy Storage, LLC (“CHES”) with six units of Eos Aurora® 500 kWh Zinc Hybrid Cathode Battery Energy Blocks. Eos will manufacture, design and deliver its zinc-based battery solutions to CHES by early summer 2021. These safe, sustainable, long duration battery solutions will be used in parallel with existing power generation and substation architecture to store renewable energy generated capacity, and to provide power quality and better resilience to the California power grid. Last month, Eos entered a separate agreement with CHES to deliver 500 MWh of integrated AC battery energy storage systems starting in the first quarter of 2023. “We are delighted to work with Carson Hybrid Energy Storage to provide this solution at their peaker facility in California,” said Dr. Balki Iyer, Chief Commercial Officer at Eos. “Our system supported CAISO during recent grid disruptions and hope it will provide great value in terms of demand management and resilience. We are very excited to be building these projects with Carson while also working with them on the larger 500MWh project.","EDISON, NJ - OCTOBER 8, 2020 - Eos Energy Storage LLC (“Eos”), a leading manufacturer of safe, low-cost and long-duration zinc battery storage systems, today announced a partnership with Verdant Microgrid (“Verdant”), a custom microgrid solution provider. Eos will supply its Znyth™ Zinc Hybrid Cathode Technology, the core of its Aurora™ stationary energy storage system, to Verdant’s California-based microgrids beginning in the fourth quarter of 2020. As previously announced, B. Riley Principal Merger Corp. II (“BMRG”), a publicly traded special purpose acquisition company, and Eos have entered into a definitive merger agreement for a business combination that would result in Eos becoming a publicly listed company. Upon closing of the transaction, the combined company will be renamed Eos Energy Enterprises, Inc. (“Eos Energy”) and intends to list its shares of common stock on Nasdaq under the ticker symbol “EOSE”. The Eos battery features a 100% depth of discharge and a wide operating temperature range to enable deployment without the use of costly thermal management measures such as HVAC cooling systems and fire suppression systems. The Znyth™ technology requires just five core commodity materials that are derived from non-rare earth and non-conflict minerals which are commercially available and scalable. The technology is also patent protected and made in the United States. A microgrid is a self-sufficient energy system that generates power in close proximity to the area it serves. These systems are considered to be more efficient and cost effective than central grids because they do not lose as much electricity in transit and they strategically pull energy from various sources, such as the central grid or a battery, depending on the local demand for electricity at any given time. “Verdant is excited to partner with Eos on this industrial microgrid project,” said Robert Babcock, a Partner at Verdant. “The Znyth™ battery technology and Eos’ configuration provide our platform with fire safety and energy flexibility that we cannot get from lithium-ion. We are confident that this first project between Verdant and Eos will demonstrate how expansive and beneficial microgrids can be for commercial clients as they provide resiliency, sustainability and cost savings in one package. We look forward to using Eos’ long duration solutions in both our behind-the-meter and utility scale projects in the future.","EDISON, N.J., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced it has closed an $85 million senior secured term loan facility with Atlas Credit Partners (“ACP”). “We are excited to partner with ACP on this transaction which increases our financial flexibility,” said Joe Mastrangelo, Chief Executive Officer of Eos. “This capital allows us to fast-track our manufacturing capacity expansion to accelerate the shift to clean energy and to deliver against our $460 million orders backlog.” The growth of the Company’s orders backlog, which now stands at 1.9 GWh, is being driven in part by the recognition from customers of the simplicity and flexibility of Eos’ energy storage systems that are made in the USA. “It is an honor and privilege to partner with Eos,” said Drew Mallozzi, Managing Partner of ACP. “The Company has a proven technology with a strong management team and is building a capital efficient and scalable manufacturing model that ACP believes is poised to capture one of the largest secular growth opportunities that we have identified in the energy industry.” After closing costs and other expenses, the funding will provide capital for the Company’s continued manufacturing capacity expansion, development of next generation energy storage systems and services, and for general corporate purposes. The financing consists of a four-year, non-amortizing term loan that bears interest at a variable rate of SOFR plus 8.5%. The Credit Agreement also permits the Company to make a one-time request for an additional commitment of up to $15 million, subject to lender consent.","EDISON, N.J., July 06, 2022 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced the signing of two significant orders with Bridgelink Commodities, LLC (“Bridgelink”) and a leading Northeast solar developer totaling 1.1 GWh of energy storage capacity to be delivered over the next three years. Bridgelink increased its multi-year master supply agreement (“MSA”) to 1 GWh for deliveries over the next three years with an incremental order value of $181 million for new project installations. In addition, Eos will manufacture a separate 40MWh order valued at $13 million for fourth quarter 2022 delivery. “We’ve built a strong working relationship with Eos and are proud to bring American-made technology to the ERCOT market in Texas,” said Bull Flaherty, Managing Director at Bridgelink. “Eos’ technology allows us the flexibility to meet the growing demand profile of ERCOT and bring more power to US consumers when needed.” Additionally, a 300 MWh MSA was signed with a leading Northeast solar developer for front of the meter stand-alone storage and solar plus storage applications that provide energy shifting and ancillary services with deliveries forecasted over the next three years. Eos Znyth™ battery technology can be used for front-of-meter grid installations and behind-the-meter industrial applications among other use cases. The zinc-powered batteries can be deployed as both standalone storage and paired with renewables on the electric grid in addition to being used in commercial & industrial facilities. “Over the past six months our opportunity pipeline increased to more than 20GWh, and we are excited to start seeing those opportunities convert into orders,” said Joe Mastrangelo, CEO of Eos. “These orders fit perfectly with our ongoing manufacturing capacity expansion which we began late last year. Growing our relationship with customers like Bridgelink demonstrates how our flexible technology allows our customers to serve a variety of use cases."]
Leadership
Joe Mastrangelo (CEO, Joe Mastrangelo is driven by a vision of energy abundance as the foundation of human progress. He joined Eos Energy Enterprises as Chief Executive Officer in 2019, bringing three decades of leadership across the global energy sector.), John Mahaz (COO, As Chief Operating Officer, John will lead the company’s operations, supply chain, and manufacturing strategy. He has more than three decades of experience in global manufacturing, operations, supply chain and business development.), Francis Richey (CTO, After starting as a Senior Battery Scientist at Eos in 2015, Francis Richey held positions as product development manager and was named Vice President of R&D in December 2020. His vast knowledge of electrochemical engineering has been integral for advancing Eos Znyth™ battery technology.), Michelle Buczkowski (CAO, Michelle Buczkowski is driven by a belief—and a career spent proving—that people power the world. She joined Eos Energy Enterprises in 2024, bringing nearly 20 years of experience in talent acquisition and development, workforce transformation, and organizational culture and communications.)

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