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Eos Energy Enterprises, Inc. (NASDAQ: EOSE) is a pioneering firm dedicated to revolutionizing the energy storage landscape with innovative and sustainable solutions. Founded in 2008 and headquartered in Edison, New Jersey, Eos designs, develops, manufactures, and markets zinc-based energy storage systems tailored for utility-scale, microgrid, and commercial & industrial (C&I) applications.
At the heart of Eos' offerings is the Znyth™ aqueous zinc battery, a breakthrough technology engineered to surpass the limitations inherent in traditional lithium-ion batteries. Featuring a proprietary rechargeable zinc hybrid cathode, the Znyth battery is noted for its safety, scalability, efficiency, and sustainability. It is capable of over 5,000 cycles, which translates to a lifespan of approximately 15 years, and is sold at an economical rate of $160/kWh.
Eos' flagship product, the Eos Znyth, is a stationary battery energy storage system primarily employed in the utility sector, the renewable energy industry, and the industrial sector. These systems provide a reliable and cost-efficient energy storage solution for 3 to 12-hour applications, making clean and reliable electricity more accessible and affordable.
Recent achievements include the company's solid financial performance with a 41% year-over-year improvement in full-year gross margins. Eos also completed the Factory Acceptance Testing on its state-of-the-art manufacturing line 1 and is on track for its Q2 commissioning. Moreover, Pine Gate Renewables has committed to 500 MWh of Eos energy storage systems over the next five years.
Eos continues to enhance its market position through strategic partnerships and innovations. Its products are manufactured in the U.S., ensuring quality and reliability for its diverse customer base, which includes utility companies, industrial firms, and commercial enterprises.
For more details, visit the official Eos Energy Enterprises website.
Eos Energy Enterprises (NASDAQ: EOSE), a U.S.-based manufacturer of zinc-based long duration energy storage systems, has scheduled its fourth quarter and full year 2024 financial results release for March 4, 2025, after market close. The company will host a conference call on March 5, 2025, at 8:30 a.m. Eastern Time to discuss the results.
In a new initiative, Eos has partnered with Say Technologies to enable shareholders to submit and vote on questions before the earnings call. The Q&A platform will be open from February 25 to March 3, 2025. Selected questions will be addressed during the live call, enhancing shareholder engagement with management.
The earnings call will be accessible via webcast on the company's investor relations website, with a replay available for twelve months following the presentation.
Eos Energy Enterprises (NASDAQ: EOSE) has achieved its third set of performance milestones, securing the final $40.5 million of a $210.5 million Delayed Draw Term Loan (DDTL) from Cerberus Capital Management. The company surpassed its January raw materials cost-out target by 6% and achieved manufacturing cycle times below 10 seconds, demonstrating operational efficiency.
The funding, combined with a recent Department of Energy loan guarantee disbursement in December, provides Eos with capital to implement Project AMAZE and scale production of its zinc-based long duration energy storage systems. The company's achievement includes meeting key operational milestones related to manufacturing, raw materials cost reduction, Z3 technology performance, and orders backlog cash conversion.
Eos Energy Enterprises (NASDAQ: EOSE) announced it expects to meet its revised $15 million revenue guidance for full-year 2024, driven by increased Q4 customer deliveries after resolving supply chain bottlenecks for Z3 Inline Energy Cube deliveries. The company projects 2025 revenue between $150-190 million, representing at least 10x growth from 2024.
The company has strengthened its position by launching a comprehensive insurance program with Ariel Green, offering investment tax credit protections and warranty coverage. This program aims to enhance technology bankability and provide customers with additional operational and economic certainty.
The growth outlook is supported by increased production volume on their first state-of-the-art manufacturing line and improved supply chain capabilities. Eos is expected to achieve its next Cerberus milestones by January 31, 2025, unlocking additional funding.
Eos Energy Enterprises (NASDAQ: EOSE), a leading U.S. manufacturer of zinc-based long duration energy storage systems, has announced its participation in upcoming investor events. The company will be present at two major conferences:
At the 27th Annual Needham Growth Conference on January 16, 2025, CEO Joe Mastrangelo and CFO Nathan Kroeker will deliver a presentation and participate in one-on-one investor meetings. Additionally, SVP Global Sales Justin Vagnozzi will join a panel discussion on 'Long Duration Energy Storage' at 12:45 p.m. EST.
The company will also participate in a virtual fireside chat hosted by Baird on January 28, 2025, at 2:00 p.m. EST, featuring CEO Joe Mastrangelo and CFO Nathan Kroeker. Interested investors are advised to contact their Needham and Baird representatives to participate in these events.
Eos Energy Enterprises (NASDAQ: EOSE) announced plans to search for a new manufacturing facility (Factory 2 Works) outside Mon Valley Works to meet increasing demand for zinc-based energy storage solutions. This expansion is additional to the Mon Valley Works expansion under Project AMAZE. The new facility aims to support growing demand from renewable energy and data centers, while creating hundreds of jobs.
The company will focus on regions with strong infrastructure, skilled labor access, and economic incentives aligned with clean energy innovation. This announcement follows recent achievements including 616 MWh in new customer orders, a partnership with FlexGen addressing a 50 GWh market opportunity, and a $68.3 million first loan advance from their $303.5 million DOE Title 17 loan guarantee.
Eos Energy Enterprises (NASDAQ: EOSE) has received its first loan advance of $68.3 million from the Department of Energy's Loan Programs Office, representing 80% of eligible costs for the Mon Valley Works expansion project. This funding is part of a larger $303.5 million loan guarantee and marks the first Title 17 battery loan to be funded under the current administration.
The loan covers capital expenditures and operating expenses for Project AMAZE's production expansion. The company's first state-of-the-art manufacturing line has been operational since June 2024, and this funding will support the procurement of a second line. The announcement follows 616 MWh in new customer orders and a partnership with FlexGen targeting a 50 GWh market opportunity.
Eos Energy Enterprises (NASDAQ: EOSE) and FlexGen Power Systems have signed a Joint Development Agreement to create America's first fully-integrated domestic battery energy storage system (BESS). The partnership combines Eos' Z3™ batteries with FlexGen's HybridOS™ Energy Management System, targeting a pipeline opportunity of over 50 GWh.
The collaboration aims to deliver a streamlined solution for utilities, independent power producers, and energy consumers, reducing the complexity of developing and operating grid-scale energy storage projects. The integrated solution will feature domestic inverter and transformer packages, emphasizing American-made technology to support clean energy demands while contributing to energy independence.
Eos Energy Enterprises (NASDAQ: EOSE) has secured a 400 MWh standalone storage order with International Electric Power (IEP) for deployment at Marine Corps Base Camp Pendleton in San Diego County. The project, partially funded by the California Energy Commission's Long Duration Energy Storage Program, is scheduled for delivery in 2025. This marks the second agreement and third project with IEP, following a successful delivery in Texas earlier this year.
The project will utilize Eos Z3™ Cubes, which are non-flammable and require no cooling systems, manufactured at their Turtle Creek, Pennsylvania facility. This order follows a recent 216 MWh order with City Utilities, demonstrating Eos' expanding market presence.
Eos Energy Enterprises (NASDAQ: EOSE), a U.S. manufacturer of zinc-based long duration energy storage systems, has appointed David Urban to its Board of Directors, effective December 16, 2024. Urban, a renowned political strategist and Republican advisor from Western Pennsylvania, brings over three decades of experience in lobbying, politics, business, law, and military service.
As Managing Director at BGR Group and Of Counsel at Torridon Law PLLC, Urban advises clients across energy, telecommunications, and defense sectors. His appointment aims to strengthen Eos's position in the American energy storage market through his expertise in government relations, public policy, and strategic communications.
Eos Energy Enterprises (NASDAQ: EOSE) has secured a $303.5 million loan guaranteed by the U.S. Department of Energy's Loan Programs Office, marking the first Title 17 battery loan under the current administration. The funding will support Project AMAZE, aimed at expanding manufacturing capacity to 8 GWh by 2027. The company plans to build four automated manufacturing lines to meet growing demand, backed by a $589 million order backlog and $14.2 billion commercial pipeline. The loan, structured in four tranches, will cover 80% of eligible costs and matures in June 2034. Project AMAZE is expected to create up to 1,000 temporary and permanent jobs in the Mon Valley region.
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