Eos Energy signs MOU with Wabash to Dramatically Accelerate the Supply Chain Ecosystem for American Made Energy Storage Solutions
Eos Energy Enterprises (NASDAQ: EOSE) has signed a Memorandum of Understanding (MOU) with Wabash (NYSE: WNC) to enhance the delivery of large-scale battery energy storage systems. The proposed partnership aims to leverage Wabash's manufacturing expertise and national distribution network to streamline Eos' supply chain and scale operations. The collaboration comes as U.S. energy storage deployments are projected to reach 251 GWh over the next four years, doubling current deployment rates. The partnership focuses on integrating Eos' Znyth™ technology with Wabash's logistical infrastructure to meet growing industry demand for energy storage solutions.
Eos Energy Enterprises (NASDAQ: EOSE) ha firmato un Memorandum of Understanding (MOU) con Wabash (NYSE: WNC) per migliorare la fornitura di sistemi di stoccaggio di energia a batteria su larga scala. La partnership proposta mira a sfruttare l'esperienza manifatturiera di Wabash e la sua rete di distribuzione nazionale per ottimizzare la catena di approvvigionamento di Eos e scalare le operazioni. La collaborazione avviene mentre si prevede che i dispiegamenti di stoccaggio energetico negli Stati Uniti raggiungano 251 GWh nei prossimi quattro anni, raddopiando i tassi attuali di dispiegamento. La partnership si concentra sull'integrazione della tecnologia Znyth™ di Eos con l'infrastruttura logistica di Wabash per soddisfare la crescente domanda del settore per soluzioni di stoccaggio energetico.
Eos Energy Enterprises (NASDAQ: EOSE) ha firmado un Memorando de Entendimiento (MOU) con Wabash (NYSE: WNC) para mejorar la entrega de sistemas de almacenamiento de energía a batería a gran escala. La asociación propuesta tiene como objetivo aprovechar la experiencia de fabricación de Wabash y su red de distribución nacional para optimizar la cadena de suministro de Eos y escalar las operaciones. Esta colaboración se produce en un momento en que se proyecta que los despliegues de almacenamiento de energía en EE. UU. alcancen 251 GWh en los próximos cuatro años, duplicando las tasas actuales de despliegue. La asociación se centra en integrar la tecnología Znyth™ de Eos con la infraestructura logística de Wabash para satisfacer la creciente demanda del sector de soluciones de almacenamiento de energía.
Eos Energy Enterprises (NASDAQ: EOSE)는 Wabash (NYSE: WNC)와 대규모 배터리 에너지 저장 시스템의 공급을 향상시키기 위한 양해각서를 체결했습니다. 제안된 파트너십은 Wabash의 제조 전문성과 국가 유통 네트워크를 활용하여 Eos의 공급망을 최적화하고 운영을 확장하는 것을 목표로 하고 있습니다. 이 협력은 미국의 에너지 저장 배치가 향후 4년 동안 251 GWh에 이를 것으로 예상되며, 현재 배치 속도가 두 배로 증가할 것으로 예상되는 시점에서 이루어집니다. 파트너십은 Eos의 Znyth™ 기술과 Wabash의 물류 인프라를 통합하여 에너지 저장 솔루션에 대한 증가하는 산업 수요를 충족하는 데 중점을 두고 있습니다.
Eos Energy Enterprises (NASDAQ: EOSE) a signé un protocole d'accord (MOU) avec Wabash (NYSE: WNC) pour améliorer la fourniture de systèmes de stockage d'énergie à batterie à grande échelle. Le partenariat proposé vise à tirer parti de l'expertise de fabrication de Wabash et de son réseau de distribution national pour rationaliser la chaîne d'approvisionnement d'Eos et mettre à l'échelle ses opérations. Cette collaboration intervient alors que les déploiements de stockage d'énergie aux États-Unis devraient atteindre 251 GWh au cours des quatre prochaines années, doublant ainsi les taux de déploiement actuels. Le partenariat se concentre sur l'intégration de la technologie Znyth™ d'Eos avec l'infrastructure logistique de Wabash afin de répondre à la demande croissante du secteur pour des solutions de stockage d'énergie.
Eos Energy Enterprises (NASDAQ: EOSE) hat ein Memorandum of Understanding (MOU) mit Wabash (NYSE: WNC) unterzeichnet, um die Lieferung von großen Batteriespeichersystemen zu verbessern. Die vorgeschlagene Partnerschaft zielt darauf ab, die Fertigungskompetenz von Wabash und dessen nationales Vertriebsnetz zu nutzen, um die Lieferkette von Eos zu optimieren und die Betriebsabläufe zu skalieren. Diese Zusammenarbeit erfolgt, da prognostiziert wird, dass die Einsätze von Energiespeicher in den USA in den nächsten vier Jahren 251 GWh erreichen werden, was die aktuellen Einsatzraten verdoppelt. Die Partnerschaft konzentriert sich darauf, die Znyth™-Technologie von Eos mit der logistischen Infrastruktur von Wabash zu integrieren, um der wachsenden Nachfrage der Branche nach Energiespeicherlösungen gerecht zu werden.
- Strategic partnership with Wabash could significantly scale BESS manufacturing capabilities
- Access to Wabash's established national distribution network and manufacturing expertise
- Potential to improve system footprint density through advanced operational capabilities
- Alignment with projected market growth of 251 GWh in U.S. energy storage deployments
- MOU is non-binding, indicating uncertainty in final partnership terms
- Partnership benefits are still speculative, using conditional language throughout
Insights
The MOU between Eos Energy and Wabash represents a significant strategic move in the energy storage manufacturing landscape. The partnership would leverage Wabash's established logistics infrastructure and manufacturing expertise to enhance Eos' production capabilities. Key advantages include:
- Access to Wabash's national distribution network, reducing logistics costs and delivery times
- Implementation of advanced manufacturing systems to improve production efficiency
- Enhanced supply chain integration and streamlined operations
With projected U.S. energy storage deployments of 251 GWh over the next four years, this partnership could position Eos to capture a larger market share. However, as this is a non-binding MOU, investors should note that final terms and execution details are still pending.
This strategic partnership aligns with the rapidly expanding energy storage market dynamics. The collaboration addresses critical scaling challenges in the BESS sector, particularly important given the projected 2x growth in deployment rates. The partnership could provide Eos with competitive advantages in:
- System footprint density improvements
- Cost reduction through supply chain optimization
- Enhanced market positioning against established competitors
The timing is strategic, coinciding with increasing utility-scale project demands and federal incentives for domestic manufacturing. The focus on American-made solutions could provide additional market advantages under current policy frameworks.
Proposed partnership pairs industry leaders as renewable energy demand continues to surge
EDISON, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it has signed a Memorandum of Understanding (MOU) with Wabash (NYSE: WNC), a world-class provider of advanced engineering and operational solutions for the transportation, logistics, and distribution industries. The proposed partnership would accelerate Eos’ ability to deliver large-scale battery energy storage systems (BESS) through Wabash’s manufacturing and supply chain expertise and national distribution network.
“Partnering with a powerhouse like Wabash has the potential to transform the market for American manufactured battery energy storage solutions,” said Eos’ Chief Executive Officer Joe Mastrangelo. “We believe this partnership would disrupt a historically inefficient and fragmented supply chain and transform it into a seamless, scalable, and highly integrated ecosystem. With Wabash, we would be able to more efficiently scale our operations and offer customers unmatched reliability and performance, while breaking the boundaries of what is available at the system level today.”
Brent Yeagy, President and Chief Executive Officer of Wabash, added: “The opportunity with Eos allows us to utilize our strengths in operations, strategic sourcing, manufacturing system design, and logistics to help drive innovation in the energy storage market. By streamlining Eos’ supply chain and leveraging our network and operational expertise, we can provide Eos with critical scale and support to match surging market demand for advanced battery storage technologies.”
According to Wood Mackenzie Power & Renewables, U.S. energy storage deployments are projected to reach 251 GWh over the next four years, on average 2x the current rate of deployments today, driven primarily by large utility-scale projects. With Eos’ ZnythTM technology at the core of its Z3 battery module and Wabash’s robust logistical support and infrastructure, the proposed partnership is expected to significantly scale BESS manufacturing to meet growing industry demand for world-class, fully integrated, and cost-effective energy storage solutions.
The non-binding MOU outlines a strategic framework for developing a potential partnership focused on streamlining supply chain processes, while deploying advanced operational capabilities that are designed to significantly improve the Eos’ systems footprint density. As Eos continues to innovate and expand, this partnership is expected to set a new standard for how BESS are designed, distributed, and delivered, offering a seamless solution that meets the energy needs of the future.
About Eos Energy Enterprises
Eos Energy Enterprises, Inc. is accelerating the shift to clean energy 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.
About Wabash
Wabash (NYSE: WNC) is the visionary leader of connected solutions for the transportation, logistics and distribution industries that is Changing How the World Reaches You®. Headquartered in Lafayette, Indiana, the company enables customers to thrive by providing insight into tomorrow and delivering pragmatic solutions today to move everything from first to final mile. Wabash designs, manufactures, and services a diverse range of products, including: dry freight and refrigerated trailers, flatbed trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade processing equipment. Learn more at onewabash.com.
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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, milestones thereunder and the anticipated use of proceeds therefrom, the ability to draw under the delayed draw term loan, statements regarding our ability to secure final approval of a loan from the Department of Energy LPO, or our anticipated use of proceeds from any loan facility provided by the US Department of Energy, 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 achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future, including the discretionary revolving facility from Cerberus; 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, uncertainties around our ability to meet the applicable conditions precedent and secure final approval of a loan, in a timely manner or at all from the Department of Energy, Loan Programs Office, or the timing of funding and the final size of any loan that is approved; the possibility of a government shutdown while we work to meet the applicable conditions precedent and finalize loan documents with the U.S. Department of Energy Loan Programs Office or while we await notice of a decision regarding the issuance of a loan from the Department Energy Loan Programs Office; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately, our ability to finalize and enter into a definitive agreement with Wabash; 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 SEC, 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 SEC 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
What is the purpose of Eos Energy's MOU with Wabash?
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