Welcome to our dedicated page for Eos Energy Enterprises news (Ticker: EOSE), a resource for investors and traders seeking the latest updates and insights on Eos Energy Enterprises stock.
Eos Energy Enterprises (NASDAQ: EOSE) operates in the grid-scale battery storage sector, where company developments often intersect with broader clean energy policy and utility procurement decisions. As a manufacturer of zinc-based battery systems targeting the long-duration storage market, Eos generates news across several categories that matter to investors tracking the energy transition.
Customer agreements represent a significant news category for Eos Energy. The company announces framework deals and firm orders with renewable energy developers, independent power producers, and utilities. These announcements indicate demand for the company's technology and provide visibility into the revenue pipeline. Multi-year supply agreements with capacity commitments measured in megawatt-hours or gigawatt-hours signal customer confidence and production planning requirements.
Manufacturing developments form another consistent news stream. Factory expansion milestones, production capacity increases, and operational achievements reflect execution against the company's scaling strategy. Government support announcements, including Department of Energy loan guarantees and program funding, indicate federal validation of the technology and provide capital for growth initiatives.
Financial news includes quarterly earnings reports, capital raises through equity or convertible debt offerings, and updates on the company's path toward sustainable operations. For a company in the manufacturing scale-up phase, these announcements help investors understand cash position, runway, and progress toward profitability targets.
Technology and product news covers battery performance metrics, new product developments, and competitive positioning in the energy storage market. Industry context around renewable portfolio standards, investment tax credits, and domestic content requirements also affects Eos Energy's business outlook.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) will release its fourth quarter and full-year 2022 financial results on February 28, 2023, after U.S. market close. A conference call is scheduled for March 1, 2023, at 8:30 a.m. ET to discuss the results. Participants can access the call through a registration link or via the company’s investor relations website. The conference call will be available for replay for twelve months after the event. Eos specializes in zinc-based energy storage systems, positioning itself as a sustainable energy solution provider. Founded in 2008, the company aims to accelerate the shift to clean energy with innovative battery technology.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) announced expected 2022 revenues of $17 to $20 million, maintaining previous guidance, with a cash balance of $17 million as of December 31, 2022. The company disclosed a new order for a 47 MWh renewables and storage project and a long-term agreement for up to 4 GWh over the next six years, contributing to its pipeline. For 2023, Eos forecasts revenues between $30 to $50 million, aided by the launch of its next-gen Z3 battery production line. The CEO expressed optimism about market expansion due to the 2022 Inflation Reduction Act and expects to secure a loan of at least $250 million from the Department of Energy.
Eos Energy Enterprises (NASDAQ: EOSE) announced that Randy Gonzales is stepping down as CFO, transitioning to a corporate advisory role due to family health issues. Nathan Kroeker will succeed him, effective January 23, 2023. Gonzales has been pivotal in Eos's scaling and capital diversification, including a $100 million senior secured loan and a recent $13.75 million convertible note. Kroeker, with 25 years of experience including a successful IPO at Spark Energy, expressed enthusiasm for Eos's growth potential. CEO Joe Mastrangelo assured investors that the transition would not disrupt the company's strategic growth plan.
Eos Energy Enterprises (NASDAQ: EOSE) announced a $13.75 million investment in convertible senior notes from several investors, including Clear Creek Investments and Ardsley Advisory Partners. This funding aims to bolster the company's strategic growth and manufacturing capacity. The notes carry a 26.5% interest rate and are convertible at approximately $1.67 per share, maturing in June 2026. Eos specializes in zinc-powered long-duration energy storage solutions, addressing renewable energy's variability. The company emphasizes its U.S.-based manufacturing and locally sourced supply chains to support its global customer base.
Eos Energy Enterprises reported Q3 2022 revenue of $6.1 million, up $5.3 million year-over-year, driven by a 15% increase in Energy Block units revenue. The current opportunity pipeline grew to $7.3 billion, with a booked orders total of $324.8 million and a backlog of $452.2 million. Cost of goods sold was $50 million, influenced by increased volume and logistics costs. The company revised its full-year revenue guidance to $17-$20 million, shifting some revenue into 2023 to optimize tax benefits under the Inflation Reduction Act.
Eos Energy Enterprises announced a $13.5 million order for a 35 MWh energy storage system as part of the Viejas Enterprise Microgrids project in collaboration with California Energy Commission and Indian Energy. The project, funded by a grant from the CEC’s Long-Duration Energy Storage Program, will utilize Eos's Znyth™ zinc-based battery technology. This initiative aims to enhance California's clean energy capabilities, contributing to the state's net zero greenhouse gas emissions goals.
Eos Energy Enterprises (NASDAQ: EOSE) has revised its 2022 revenue outlook to between $17 million and $20 million, primarily due to the Inflation Reduction Act (IRA), which is expected to lower costs for energy storage systems. The IRA provides significant tax credits for projects that meet certain conditions, effective from 2023. Eos plans to delay production to fully leverage these benefits, focusing on its new Eos Z3 battery design, which aims to enhance scalability and reduce costs. Additionally, Eos is progressing through the DOE’s loan evaluation process for manufacturing expansion.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) will release its third quarter 2022 financial results after market close on November 7, 2022. A conference call is scheduled for November 8 at 8:30 a.m. ET to discuss these results. Interested parties can access the live webcast on the Company’s Investor Relations page. The conference call replay will be available via webcast starting November 8 at 11:30 a.m. ET. Eos focuses on innovative, sustainable energy storage solutions, particularly through its Znyth™ aqueous zinc battery technology, manufactured in the U.S.
Eos Energy Enterprises has moved into full due diligence with the U.S. Department of Energy's Title XVII Innovative Clean Energy Loan Guarantee Program after completing its Part II loan application. The due diligence phase is key for Eos to negotiate terms for a potential loan to support its manufacturing expansion aimed at achieving 3GWh of production capacity. The company boasts a robust backlog of $457 million and a pipeline opportunity of 27 GWh valued at approximately $7 billion, positioning it favorably in the growing clean energy market.
Eos Energy Enterprises (NASDAQ: EOSE) appointed Jeff Bornstein to its Board of Directors on September 7, 2022. Bornstein, a former CFO and Vice Chairman of GE, brings over three decades of experience in clean energy and industrial sectors. He has been an Eos investor since 2019 and is expected to utilize his extensive background to bolster Eos's mission of advancing clean energy solutions. Chairman Russ Stidolph emphasized Bornstein's role as a key asset for Eos in the rapidly growing market for energy storage systems.
FAQ
What is the current stock price of Eos Energy Enterprises (EOSE)?
What is the market cap of Eos Energy Enterprises (EOSE)?
