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, 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, Inc. (NASDAQ: EOSE) announced substantial financial growth for Q4 2021, reporting revenue of $3.1 million from 8 projects, a 332% increase from Q3. Full-year revenue reached $4.6 million, up 23x year-over-year. Booked orders totaled $137.4 million, with a backlog of $148.7 million. Eos plans to enhance its manufacturing capacity to 800 MWh, creating more than 125 jobs. The company anticipates $50 million in revenue for 2022, aiming for $400 million in additional orders.
Eos Energy Enterprises has progressed to Part II of the U.S. Department of Energy’s Renewable Energy Loan Program, aiming to expand its Turtle Creek manufacturing facility's capacity to 800MWh by year-end. The expansion will create over 125 jobs and enhance production of its Znyth™ zinc batteries. The DOE's invitation reflects Eos's compliance with technical eligibility requirements, though it's not a guarantee of funding. Eos focuses on local supply chains, targeting over 90% of raw materials sourced within five hours of its factory by year-end.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) announced plans to expand its manufacturing facility in Turtle Creek, PA, significantly increasing its production capacity to 800 MWh. This expansion is expected to create over 125 green jobs and add more than 46,000 square feet of space, bringing the total facility size to nearly 100,000 square feet. Manufacturing equipment will arrive in March, with full operations anticipated by September. The initiative aims to bolster local employment and contribute to sustainable energy solutions, supporting the company’s growth in the clean energy sector.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) has appointed John "Jay" Tedone as Chief Accounting Officer. With over 25 years in finance, Tedone will oversee the accounting, tax, and SEC reporting functions. CEO Joe Mastrangelo emphasized the need for experienced professionals as the company scales its operations. Tedone previously worked with Lydall, Inc. and Kaman Corporation. He holds an MBA from Rensselaer Polytechnic Institute and is a Certified Public Accountant. Eos aims to innovate with its Znyth™ zinc-based energy storage solutions.
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) will release its fourth quarter and full-year 2021 financial results on February 25, 2022, before market opening. A conference call is scheduled for 8:30 a.m. Eastern Time on the same day to discuss the results. Investors can participate by dialing (877) 705-6003 or accessing the live webcast via Eos's investor relations website. A replay of the conference call will be available after the event until March 4, 2022 for those unable to attend.
Eos Energy Enterprises, a leader in sustainable zinc-based energy storage, announces CEO Joe Mastrangelo and CFO Randy Gonzales will speak at two upcoming investor conferences. The Bank of America Securities Battery and Storage Forum is scheduled for January 11, 2022, at 11:15 a.m. ET, followed by the Needham Growth Conference on January 12, 2022, at 4:15 p.m. ET. Investors can access a live webcast of the presentations through Eos's Investor Relations website. Eos focuses on clean energy solutions with its innovative Znyth® aqueous zinc battery technology.
Eos Energy Enterprises (NASDAQ: EOSE) announced a strategic collaboration with TETRA Technologies (NYSE: TTI) to enhance the manufacturing of Eos' Znyth® aqueous zinc battery, utilizing TETRA’s high-purity zinc-bromide. Eos reported a backlog exceeding $150 million and a $3.7 billion opportunity pipeline for energy storage solutions. The partnership aims to optimize sourcing and supply chain for the growing stationary storage market. Additionally, TETRA's significant bromine exploration target in Arkansas bolsters resource availability for Eos’ expansion and aligns with U.S. clean energy manufacturing initiatives.
TETRA Technologies (TTI) and Eos Energy Enterprises (EOSE) have forged a strategic agreement to enhance the manufacturing of Eos' Znyth® aqueous zinc batteries. The partnership focuses on high purity zinc-bromide supply, essential for battery performance. Eos reported a backlog of over $150 million and a potential pipeline of $3.7 billion, planning to increase manufacturing capacity to 800 MWh in 2022. This collaboration aims to strengthen domestic supply chains and align resources to optimize growth in the stationary storage market.
Eos Energy Enterprises (NASDAQ: EOSE) has appointed Randall B. Gonzales as Chief Financial Officer, succeeding Sagar Kurada, effective January 11, 2022. CEO Joe Mastrangelo praised Gonzales for his proven track record and leadership skills, essential for Eos's strategic growth. Gonzales previously served as CFO at Lydall, Inc. and held significant roles at Caterpillar and Nissan. Kurada steps down after successfully leading Eos to its public offering, moving on to become CFO at Newlight Technologies. This transition is seen as a key step in Eos's commitment to advancing clean energy solutions.
AltEnergy Acquisition Corp. (NASDAQ: AEAEU, AEAE, AEAEW) announced that starting December 13, 2021, holders of its units can trade shares of Class A common stock and warrants separately on Nasdaq. The Common Stock will trade under the symbol 'AEAE' and the Warrants under 'AEAEW'. Units that remain unseparated will continue under 'AEAEU'. No fractional Warrants will be issued, and brokers must contact Continental Stock Transfer & Trust Company for separation. The release clarifies that this announcement does not constitute an offer to sell securities.
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