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Eos Energy Secures $20 million order—the Largest in Company History—to Supply Long Duration Storage to California Power Grid
Deal with EnerSmart extends backlog of energy storage systems Eos is scheduled to install in 2021 EDISON, N.J., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Eos Energy
About this update from Eos Energy Enterprises, Inc.
[{"type":"text","content":"Deal with EnerSmart extends backlog of energy storage systems Eos is scheduled to install in 2021\nEDISON, N.J., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced a firm order from EnerSmart, a developer, owner and operator of utility scale energy storage projects, to provide at least 90MWh, and as much as 180MWh, of energy storage over the next 24 months. The projects are planned to be powered by Eos’s innovative Znyth® battery technology to provide improved grid stability and increased renewables utilization across multiple locations in California. The first project, anticipated to supply 9MWh of storage in El Cajon to CAISO (California’s independent grid operator), is valued at $2 million with installation scheduled for the fourth quarter of 2021. “We are very excited and believe that this agreement will expand our installed base and continue to show the demand for longer duration storage. We look forward to working with EnerSmart to bring innovative technology designed to make a long-term positive impact on California’s power grid,” said Balki Iyer, Chief Commercial Officer of Eos. The Eos Znyth® battery is designed to provide continuous power upon installation and is anticipated to have a useful life of 20 years. This positively ingenious storage solution developed in Edison, NJ is proven to be safe across a wide range of operating conditions and will be shipped from Eos’s manufacturing facility located in Pittsburgh, PA. “As we expand our portfolio of utility scale energy projects in key markets, we rely on technology that can provide safe, reliable storage at an attractive cost,” said Marc La Magna, Co-founder and Managing Partner at EnerSmart. “Eos Energy’s technology is designed to address these areas and importantly, they share our passion and optimism that energy storage and renewable energy projects will continue to be widely adopted in California and around the country.” About Eos 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. Safe, scalable...