Eos Energy Announces Factory 2 Location Search Outside Mon Valley Works to Support Growing Demand for American Made Energy Storage Solutions
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) ha annunciato piani per cercare una nuova struttura di produzione (Factory 2 Works) al di fuori di Mon Valley Works per soddisfare la crescente domanda di soluzioni di stoccaggio energetico a base di zinco. Questa espansione è aggiuntiva all'espansione di Mon Valley Works sotto il Progetto AMAZE. La nuova struttura mira a supportare la crescente domanda proveniente dalle energie rinnovabili e dai data center, creando nel contempo centinaia di posti di lavoro.
L'azienda si concentrerà su regioni con una forte infrastruttura, accesso a manodopera qualificata e incentivi economici allineati con l'innovazione nell'energia pulita. Questo annuncio segue recenti successi, tra cui 616 MWh in nuovi ordini da parte dei clienti, una partnership con FlexGen che affronta un mercato da 50 GWh, e un anticipo di prestito di 68,3 milioni di dollari dal loro prestito garantito dal DOE Title 17 di 303,5 milioni di dollari.
Eos Energy Enterprises (NASDAQ: EOSE) anunció planes para buscar una nueva instalación de fabricación (Factory 2 Works) fuera de Mon Valley Works para satisfacer la creciente demanda de soluciones de almacenamiento de energía a base de zinc. Esta expansión es adicional a la expansión de Mon Valley Works bajo el Proyecto AMAZE. La nueva instalación tiene como objetivo apoyar la creciente demanda de energías renovables y centros de datos, al mismo tiempo que crea cientos de empleos.
La empresa se centrará en regiones con una infraestructura sólida, acceso a mano de obra calificada e incentivos económicos alineados con la innovación en energía limpia. Este anuncio sigue a logros recientes, incluyendo 616 MWh en nuevos pedidos de clientes, una asociación con FlexGen que aborda una oportunidad de mercado de 50 GWh, y un adelanto de préstamo de 68,3 millones de dólares de su garantía de préstamo del DOE Title 17 de 303,5 millones de dólares.
Eos Energy Enterprises (NASDAQ: EOSE)는 아연 기반 에너지 저장 솔루션에 대한 증가하는 수요를 충족하기 위해 Mon Valley Works 외부에 새로운 제조 시설(Factory 2 Works)을 찾겠다는 계획을 발표했습니다. 이 확장은 Project AMAZE에 따른 Mon Valley Works 확장에 추가되는 것입니다. 새로운 시설은 재생 가능 에너지와 데이터 센터에서의 증가하는 수요를 지원할 목적으로 하고 있으며, 수백 개의 일자리를 창출할 것입니다.
회사는 강력한 인프라, 숙련된 인력 접근 및 청정 에너지 혁신에 맞춘 경제적 인센티브가 있는 지역에 집중할 것입니다. 이 발표는 고객 주문 616 MWh를 포함한 최근의 성과, 50 GWh 시장 기회를 다루는 FlexGen과의 파트너십, 그리고 6,830만 달러의 첫 대출 선급금을 포함한 3억 3,500만 달러의 DOE Title 17 대출 보증에 따른 것입니다.
Eos Energy Enterprises (NASDAQ: EOSE) a annoncé des projets pour rechercher une nouvelle installation de fabrication (Factory 2 Works) en dehors de Mon Valley Works afin de répondre à la demande croissante de solutions de stockage d'énergie à base de zinc. Cette expansion est supplémentaire à l'expansion de Mon Valley Works dans le cadre du projet AMAZE. La nouvelle installation vise à soutenir la demande croissante en énergie renouvelable et dans les centres de données, tout en créant des centaines d'emplois.
L'entreprise se concentrera sur des régions disposant d'une infrastructure solide, d'un accès à une main-d'œuvre qualifiée et d'incitations économiques alignées sur l'innovation en matière d'énergie propre. Cette annonce fait suite à des réalisations récentes, notamment 616 MWh de nouvelles commandes clients, un partenariat avec FlexGen qui traite une opportunité de marché de 50 GWh, et un versement initial de prêt de 68,3 millions de dollars provenant de leur garantie de prêt DOE Title 17 de 303,5 millions de dollars.
Eos Energy Enterprises (NASDAQ: EOSE) hat Pläne angekündigt, eine neue Produktionsstätte (Factory 2 Works) außerhalb von Mon Valley Works zu suchen, um der steigenden Nachfrage nach zinkbasierten Energiespeicherlösungen gerecht zu werden. Diese Expansion ist zusätzlich zur Expansion von Mon Valley Works im Rahmen des Projekts AMAZE. Die neue Einrichtung soll die wachsende Nachfrage aus erneuerbaren Energien und Rechenzentren unterstützen und gleichzeitig Hunderte von Arbeitsplätzen schaffen.
Das Unternehmen konzentriert sich auf Regionen mit einer starken Infrastruktur, Zugang zu qualifizierten Arbeitskräften und wirtschaftlichen Anreizen, die mit Innovationen im Bereich der sauberen Energie in Einklang stehen. Diese Ankündigung folgt auf jüngste Erfolge, darunter 616 MWh an neuen Kundenaufträgen, eine Partnerschaft mit FlexGen, die eine Marktchance von 50 GWh adressiert, sowie einen Vorschuss in Höhe von 68,3 Millionen Dollar aus ihrer 304,5 Millionen Dollar umfassenden DOE Title 17-Darlehensgarantie.
- Secured 616 MWh in new customer orders
- Partnership with FlexGen addressing 50 GWh market opportunity
- Received $68.3M first loan advance from $303.5M DOE loan guarantee
- Expanding manufacturing capacity with new facility plans
- Strategic positioning near customer demand to reduce logistics costs
- None.
Insights
The strategic expansion announcement from Eos Energy signals robust market positioning in the rapidly growing energy storage sector. With 616 MWh in new customer orders and a significant 50 GWh market opportunity through the FlexGen partnership, the company is demonstrating strong demand signals. The recent
The decision to search for Factory 2 Works location outside Mon Valley indicates aggressive scaling strategy beyond Project AMAZE. This dual-track manufacturing expansion approach could significantly enhance production capacity and geographic diversification, potentially reducing logistics costs and improving margins. The focus on regions with strong infrastructure and economic incentives suggests careful consideration of operational efficiency and cost optimization.
The emphasis on manufacturing scalability through easily replicable production lines represents a sophisticated operational strategy. The dual-facility approach, maintaining Mon Valley Works while developing Factory 2 Works, creates operational redundancy and supply chain resilience. The zinc-based technology's inherent manufacturing simplicity enables rapid production scaling - a critical advantage in the current high-demand market.
In simpler terms: Think of it like adding a second kitchen to a busy restaurant - you can serve more customers faster and still operate if one kitchen needs maintenance. The company's ability to quickly set up new production lines is like having a proven recipe that can be easily replicated in any location.
Surging demand drives Company to expand and accelerate manufacturing footprint for zinc-based energy storage in the United States
EDISON, N.J., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in the design, sourcing, and manufacturing of zinc-based long duration energy storage (LDES) systems, manufactured in the United States, today announced its search for a new manufacturing facility in addition to the Mon Valley Works expansion under Project AMAZE. This expansion is part of the Company’s broader strategy to scale up its operations to meet the rapidly growing demand for renewable energy solutions and to further its commitment to American manufacturing and energy independence.
As the Company finalizes the procurement, construction, and implementation timeline to bring line 2 into full operation, Eos is simultaneously beginning to search for an additional factory location outside the Mon Valley. The new facility, currently known as Factory 2 Works, is expected to be instrumental in supporting Eos’ mission to provide safe, cost-effective, and environmentally friendly energy storage. With the growing use of renewable energy sources like wind and solar, coupled with increasing demand from data centers, there is a rising need for reliable, long duration energy storage systems to stabilize the grid and ensure that energy is available when needed. Factory 2 Works would be incremental to the manufacturing capacity expected from the Mon Valley Works under Project AMAZE.
"We’re excited to find the next home for America’s battery, where we can improve our global competitiveness, continue to create long-term job opportunities and position Eos as a leader in American-made energy storage," said Joe Mastrangelo, Eos Chief Executive Officer. "We’re seeing an unprecedented surge in demand for energy storage solutions, with more operators seeking American-made technology, making it critical for us to stay ahead of the demand curve. The simplicity and scalability of our manufacturing operations allow us to quickly replicate production lines and position our facilities closer to customer demand, ultimately reducing logistics costs and improving efficiency."
As part of the strategy, the search for a site outside the Mon Valley Works will focus on regions with strong infrastructure close to customer demand, access to skilled labor, and economic incentives that align with Eos’ values of clean energy innovation and American-made manufacturing. Eos expects the new facility to generate hundreds of new jobs, contribute to local economic development and strengthen the nation's energy security and independence.
Eos’ zinc-based technology offers a safe, secure, and cost-effective solution to these energy storage challenges. The Company’s systems are designed to provide long-duration storage capabilities, essential for grid stability, utility-scale and behind the meter applications, and commercial and industrial use.
This announcement comes on the heels of the Company having secured 616 MWh in new customer orders, an announced partnership with FlexGen to address a preliminary 50 GWh market opportunity and its
About Eos Energy Enterprises
Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.
Eos Contacts
| Investors: | ir@eose.com | |
| Media: | media@eose.com | |
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, contribution margins, orders backlog and opportunity pipeline for the fiscal year ended December 31, 2024, our path to profitability and strategic outlook, the tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act of 2022, the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds therefrom, the DOE loan and statements regarding the receipt of funds under the DOE loan and the anticipated use of proceeds therefrom, obtaining the requisite approvals from Cerberus and the DOE for future events, our ability to meet the applicable conditions precedent and covenants under the Cerberus and DOE loan documents, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.
Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to meet the applicable milestones and other condition precedents for funding, comply with covenants and obtain approvals required for future events, in each case under the Cerberus and DOE loan documents; our ability to raise financing in the future, including the discretionary revolving facility from Cerberus; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; risks resulting from the impact of global pandemics, including the novel coronavirus, Covid-19; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
FAQ
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