Press release

NEW YORK and EDISON, N.J., June 24, 2020 /PRNewswire/ — B. Riley Principal Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) (“BRPM II”), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley Financial”), and privately held Eos Energy Storage LLC (“Eos”) today announced they have executed a letter of intent (“LOI”) for a business combination transaction (“transaction”) which would result in Eos becoming a publicly listed company.

Founded in 2008, Eos Energy Storage is an established provider of long-duration energy storage focused on providing a domestic solution to a global need: low-cost, safe, and environmentally friendly energy storage. Eos has proven its technology over a ten-year period of testing, development, deployment, and operation, and is focused on accelerating the growth of clean energy in the United States by deploying large-scale storage solutions that deliver reliable and cost-competitive power in a safe and environmentally sustainable way. The Eos Aurora® system is designed to meet the requirements of the grid-scale energy storage market using Eos’ patented aqueous, zinc-powered battery technology to offer a safe, scalable, fully recyclable, and sustainable alternative to lithium-ion battery power. Its patented Znyth® technology requires just five core commodity materials – all of which are Earth-abundant, non-conflict minerals, and are 100% recyclable. Eos’ battery is non-flammable and does not require any moving parts or pumps, which allows for simple upkeep and market-leading low-cost operations.

Eos Energy Storage, the leading manufacturer of safe, low-cost, and long-duration zinc battery storage systems, is proud to announce plans to deploy its latest technology battery energy storage system (BESS) in partnership with the California Energy Commission(CEC). The BESS will be used to evaluate performance across multiple utility energy storage use cases.

In light of the wildfires impacting much of California in recent years, non-flammable, non-combustible batteries like the one made by Eos provide a way for the state to continue to install more grid-connected battery storage capacity without exacerbating the risk or severity of fires. The energy storage industry has been under increased scrutiny around fire safety after a lithium-ion battery facility in Arizona exploded in 2019 and the ensuing fire reportedly left four first responders injured.

Eos Energy Storage, the leading manufacturer of safe, low-cost and long-duration zinc battery storage systems, is proud to announce the appointment of two new executives who will join the management team to help drive the future of Eos. Dr. Balakrishnan G. Iyer (Balki) has been named Chief Commercial Officer and Mr. Nathan McCormick joins the company as Senior Vice President of Operations.

“Eos is at a critical pivot point having achieved significant milestones in our R&D and engineering. We are now bringing in management talent to prepare for company’s next phase. The company will immensely benefit from Nathan’s experience in leading large manufacturing centers and Balki’s successful track record with commercializing business to help scale the business,” commented Joe Mastrangelo, CEO of Eos. “The energy storage market is growing exponentially. Leaders like Balki and Nathan are going to be key catalysts to help Eos serve the greater need to deliver on our promise of scalable clean energy storage solutions. I am excited to welcome them both to the Eos family.”

An Eos Energy Storage zinc-based battery system coupled with a Duke Energy solar array in North Carolina.

Eos Energy Storage LLC deployed the latest generation of its zinc-based batteries at two recently completed installations, one with Duke Energy Corp. in North Carolina and another at the University of California in San Diego, the company announced June 19.

Both 30-kW/120-kWh demonstrations are undergoing commissioning this summer at test sites on both coasts ahead of the company’s planned scale-up of the technology in 2020.

It’s pretty intuitive, really.

Countries that have rolling brownouts on a consistent basis are a good place to operate when you’re in the battery business.

And, just to be clear, we’re not talking about the batteries you put in the flashlights you keep in the drawer of the nightstand.

Philippe Bouchard, of the Edison-based energy company Eos Energy Storage, explained it better.

“During (brownouts), portions of grids can be powered down for about four hours at a time,” he said. “They do that regularly in places such as India and South Africa to prevent a full-scale blackout. That’s typically an indicator of where a battery technology with multiple hours of discharge capability can create a lot of value.”

Three energy companies are collaborating on a pioneering zinc hybrid battery technology that they are ultimately targeting at the UK’s industrial and commercial market.

The pilot will be tested under UK conditions before being targeted at universities for research purposes, with the first EU certified system expected to be provided to Britain’s commercial and industrial sector next year.

The battery system is also being developed to integrate with electric vehicle charging and demand side management solutions.

The trio of firms – UK-headquartered Bryt Energy and Connected Energy, and US-based Eos Energy Storage – say that their system is “revolutionary in the energy industry and has the potential to be the most competitive and low-cost battery in the market”.

Today, Eos Energy Storage (Eos) introduced new management to industrialize and scale its aqueous zinc battery solution. Joe Mastrangelo joins Eos as Chief Executive Officer, Kevin Walsh as Senior Commercial Advisor, and Mack Treece as Chief Financial Officer. Addition of veteran leadership will support Eos’ growth as the company deploys product on 4 continents and builds out manufacturing capability in the U.S.

It’s time for a change! Access to power in the developing world, urbanization, proliferation of electric vehicles and energy enabled innovations such as indoor agriculture have made safe, sustainable and scalable electricity a basic need of modern life. As electricity demand rapidly increases, we are still not doing enough to increase energy efficiency and reduce carbon emissions. Even with forecasts predicting that 50% of the world’s power will come from wind and solar by 2050, we can do better by delivering power from these technologies when the wind isn’t blowing and the sun’s not shining. The answer is simple, increased energy storage. Then why is the challenge so complex?

Holtec International, a supplier of equipment and systems for the energy industry, and Eos Energy Storage, a supplier of Znyth DC battery systems, in an expansion of their strategic partnership, announced the formation of HI-POWER, a multi-gigawatt manufacturing joint venture to produce Eos’s next generation of aqueous zinc batteries.