Articles from Eos Energy Enterprises, Inc.

Surging demand drives Company to expand and accelerate manufacturing footprint for zinc-based energy storage in the United States

First Title 17 battery loan guarantee to be funded under the current administration after an application and approval process that began in January 2021

Eos and FlexGen to jointly expand and develop robust pipeline opportunity of over 50 GWh

Order culminates several years of successful collaboration and joint development work with International Electric Power and California Energy Commission

Urban brings unparalleled expertise in linking business strategy to public policy enabling Eos to strengthen its position in made in America energy storage systems

Loan supports next phase of Company’s growth, expected to bring annual production capacity to 8 GWh, meeting long duration battery energy storage systems’ growing demand

EDISON, N.J., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced that Francis Richey, former Senior Vice President of Eos Research & Development, has been appointed Chief Technology Officer.

Proposed partnership pairs industry leaders as renewable energy demand continues to surge

EDISON, N.J., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced financial results for the third quarter ended September 30, 2024.

EDISON, N.J., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced a new customer agreement with City Utilities (CU) to provide 216 MWh of energy storage for two project sites in Missouri.

TURTLE CREEK, Pa., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced the successful achievement of all four of the second performance milestones previously agreed upon between Eos and an affiliate of Cerberus Capital Management LP (“Cerberus”) as part of Cerberus’s strategic investment in the Company. Achieving these performance milestones enables the Company to draw an additional $65 million from the Delayed Draw Term Loan.

EDISON, N.J., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it will release its third quarter 2024 financial results after the U.S. market closes on November 5, 2024. A conference call to discuss its results will take place the following morning on November 6 at 8:30 a.m. Eastern Time.

$30 million tranche further strengthens the Company’s balance sheet as Eos expands manufacturing operations in Turtle Creek

Successful commissioning of state-of-the-art (SotA) manufacturing line and up to $315.5 million strategic investment from Cerberus provide capacity and capital to significantly scale production

EDISON, N.J., July 23, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it will release its second quarter 2024 financial results after the U.S. market closes on August 6, 2024. A conference call to discuss its results will take place the following morning on August 7 at 8:30 a.m. Eastern Time.

EDISON, N.J., July 11, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced that it received written notice from the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company regained compliance with the minimum continued listing criteria set forth in Nasdaq Listing Rule 5550(a)(2) as of July 9, 2024, based on the closing bid price of the Company’s common stock being at or above $1.00 per share for the 10 consecutive business days from June 24, 2024 to July 8, 2024.

Expands project size to bring safe, “made in America” clean energy storage solution for Viejas Enterprise Microgrid

Company achieves critical Project AMAZE manufacturing milestone to meet future demand for long duration battery storage

Significant strategic investment supports Company’s growth plans in an accelerating long duration battery storage market and enables Eos to restructure existing debt

Company successfully completes Factory Acceptance Testing on state-of-the-art manufacturing line 1; remains on schedule for Q2 commissioning

EDISON, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced its participation at two upcoming investor conferences in June.

EDISON, N.J., May 03, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced the results of its Annual Stockholders’ Meeting, which was conducted virtually.

Continued progress against December 2023 Strategic Outlook, releases preliminary first quarter 2024 results, and announces first quarter financial results and conference call timing

Pine Gate Renewables commits to 500 MWh of Eos energy storage systems over the next five years

Full-year gross margins improved by 41% year over year

EDISON, N.J., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it will release its fourth quarter and full year 2023 financial results after the U.S. market closes on March 4, 2024. A conference call to discuss its results will take place the following morning on March 5 at 8:30 a.m. Eastern Time.

EDISON, N.J., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced that it achieved “Power On” status of all motion systems on its first state-of-the-art manufacturing line and expects to record revenue of $6.6 million for the fourth quarter, a 148% increase versus fourth quarter 2022. Full year 2023 revenue is expected to be $16.4 million as the Company transitioned manufacturing to the Eos Z3TM Cube and ramped up its semi-automated manufacturing facility. As a result of this transition, full year 2023 gross margin is expected to improve by 30% to 50% over the prior year. The Company had an ending cash balance (excluding restricted cash) of $69.5 million and an orders backlog of $534.8 million as of December 31, 2023.

Multiyear supply agreement supports scaling Eos’s Z3 battery production and reducing battery module cost as part of Project AMAZE

Companies executed an agreement establishing TETRA as the preferred strategic supplier of electrolyte products for Eos

Partner4Work makes co-investment of an initial $250,000 to expand Eos’s workforce development capabilities

EDISON, N.J., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced the pricing of an underwritten public offering of (i) 34,482,759 shares of its common stock and (ii) accompanying common warrants to purchase one share of common stock for each share of common stock sold. The combined offering price to the public of each share of common stock and accompanying one common warrant is $1.45. The accompanying common warrants have an exercise price of $1.60 per share, are exercisable immediately, and will expire five years following the date of issuance. All of the shares of common stock and accompanying common warrants are being offered by Eos. Before deducting the underwriting discounts and commissions and other offering expenses, Eos expects to receive total gross proceeds of approximately $50 million. The offering is expected to close on or about December 19, 2023, subject to the satisfaction of customary closing conditions

EDISON, N.J., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced a proposed underwritten public offering in which it intends to offer and sell (i) shares of its common stock and (ii) accompanying common warrants to purchase shares of common stock. All of the shares of common stock and accompanying common warrants are being offered by Eos. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Companies executed an MOU for 500 MWh in energy storage installations, building from their existing relationship established in 2021

EDISON, N.J., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today confirmed that it will host a strategic outlook call on December 12, 2023, at 11 a.m. Eastern Time. The call is intended to serve as a precursor event to the Company’s Investor Day which is tentatively scheduled for Q2 2024.

Received $399M DOE LPO Title VXII loan conditional commitment, shipped first Eos Z3™ customer energy storage system, and provided an update to its 2023 outlook

EDISON, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today confirmed it will release its third quarter 2023 financial results after the U.S. market closes on November 6, 2023. A conference call to discuss its results will take place the following morning on November 7 at 8:30 a.m. Eastern Time.

EDISON, N.J., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it will release its third quarter 2023 financial results after the U.S. market closes on November 6, 2023. A conference call to discuss its results will take place the following morning on November 7 at 8:30 a.m. Eastern Time.

Former Enphase senior executive brings extensive global manufacturing and supply chain experience in the semiconductor and energy industries to the Eos Board

Eos to contribute 16 MWh to Dominion Energy’s proposed Darbytown Storage Pilot Project in effort to increase energy discharge duration

EDISON, N.J., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced its participation in upcoming investor and industry events.

U.S. Department of Energy issues conditional commitment for a loan to finance up to 80% of Project AMAZE – American Made Zinc Energy

Company enters into supply agreement with automation partner

Company begins Eos Z3 battery module and Eos cube commercial manufacturing ramp

Announces Second Quarter 2023 Financial Results Release and Conference Call

EDISON, N.J., June 01, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced its attendance at three upcoming conferences.

EDISON, N.J., May 15, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered long-duration energy storage systems, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 3,601,980 shares of the Company’s common stock at a purchase price of $2.221 per share in a registered direct offering. The Company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 3,601,980 shares of common stock. The warrants will have an exercise price of $2.50 per share, become exercisable no later than July 15, 2023, and will expire five years from the initial exercisability date. The closing of the offering is expected to occur on or about May 17, 2023, subject to the satisfaction of customary closing conditions.

Revenue increased nearly 3x with unit cost down 25% compared to 1Q 2022

EDISON, N.J., April 25, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it will release its first quarter 2023 financial results after the U.S. market closes on May 9, 2023. A conference call to discuss its results will take place the following morning on May 10 at 8:30 a.m. Eastern Time.

EDISON, N.J., April 12, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos” or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered long-duration energy storage systems, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 16,000,000 shares of the Company’s common stock at a purchase price of $2.50 per share in a registered direct offering. The Company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 16,000,000 shares of common stock. The warrants will have an exercise price of $3.14 per share, are not exercisable until six months from the date of issuance, and will expire five and one-half years from the date of issuance. The closing of the offering is expected to occur on or about April 14, 2023, subject to the satisfaction of customary closing conditions.

Company continues to see strong growth with a 4.4x increase in Energy Block shipments vs. FY 2021.

EDISON, N.J., Feb. 16, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced it will release its fourth quarter and full-year 2022 financial results after the U.S. market closes on February 28, 2023. A conference call to discuss its results will take place the following morning on March 1 at 8:30 a.m. Eastern Time.

Company Announces New Project Order, Incremental Issuance under the SEPA, Expected 2022 Revenue Results, and Initiates 2023 Revenue Outlook

Randy Gonzales to step away from day-to-day operations due to family health reasons.

EDISON, N.J., Jan. 19, 2023 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered long-duration energy storage systems, today announced that several investors, including Clear Creek Investments, LLC, Ardsley Advisory Partners LP, and AltEnergy, LLC (together, the “Purchasers”), made a $13.75 million investment in convertible senior notes to support the Company’s strategic growth initiatives.

Company has delivered 258 Energy Blocks since manufacturing inception; shifting strategy to maximize IRA benefits for Eos and its customers

California Energy Commission (“CEC”), Indian Energy, and Eos Energy Enterprises to bring innovative Made in America clean energy storage solution for Viejas Enterprise Microgrids project to Viejas Band of Kumeyaay Indians

Eos outlines strategy shift and revises 2022 revenue outlook

EDISON, N.J., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced it will release its third quarter 2022 financial results after the U.S. market closes on November 7, 2022. A conference call to discuss its results will take place the following morning on November 8 at 8:30 a.m. Eastern Time.

EDISON, N.J., July 27, 2022 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQEOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced the date for the release of its second quarter financial results and its participation in an upcoming investor conference.