Press release

CEO Joe Mastrangelo Says Congress Has Opportunity to Create and Grow American Jobs, Scale Domestic Energy Storage Industry

EDISON, N.J., Dec. 02, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, supports the swift passage of the Build Back Better Act in the Senate and applauds the House’s actions to advance the bill.

Chief Executive Officer Joe Mastrangelo issued the following statement:

“Developing and producing the technology that will allow our economy and society to decarbonize is a global priority. Eos is a leader in the field developing zinc batteries that store clean energy so that when the sun isn’t shining, or the wind isn’t blowing, the power stays on. This is a once-in-a-generation moment for America to lock in the jobs that are going to be created in the renewable energy field. For the first time since the 1990’s, Congress is considering legislation that will incentivize companies to produce this new technology in America, not overseas.

After spending more than 30 years in the energy industry, I can’t recall a time when I felt more inspired by American ingenuity and the impact it could have on our economy and prosperity. The policies in the Build Back Better Act provide a level playing field to compete by prioritizing domestic manufacturing and encouraging innovation. These are game changing policies both for our employees, and for companies like Eos which is based in Edison, NJ and makes batteries in a factory just outside of Pittsburgh, PA in the foothills of the Appalachian Mountains. I urge Congress to pass this bill not just because the investments in it will contribute to net zero goals, but because it will create American jobs in communities that are ready to work.”

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time, including those more fully described in Eos’s most recent filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31,2020 filed on February 26, 2021, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.

EDISON, N.J., Nov. 10, 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 it has secured its largest customer order to date—a commitment by Blue Ridge Power, a leading solar engineering, procurement and construction (EPC) firm, to purchase 300MWh of energy storage systems over the next two years.   Installation is scheduled to begin in summer 2022 at a site owned by developer Pine Gate Renewables. Eos will supply its zinc powered Znyth® technology for multiple projects in 2022 and 2023.

As a leading manufacturer of long duration (3-12 hour) energy storage solutions, Eos manages the variability of renewable energy sources by providing reliable power to applications across the energy value chain, including utilities, and industrial and commercial sites. Its Znyth battery is designed to provide continuous power upon installation and is projected to have a useful life of 20 years. Developed in Edison, NJ and constructed of non-rare earth materials, Zynth batteries are proven safe across a wide range of operating conditions and are 100% recycleable at the end of life.

“We are thrilled to partner with Blue Ridge Power on this historic project to bring more energy storage to the U.S., where we are creating jobs and increasing manufacturing capacity,” said Joe Mastrangelo, Chief Executive Officer of Eos. “We have a proven technology that is both scalable and bankable and look forward to using this project as a paradigm for other independent power producers and developers to follow suit.”

Chief Commercial Officer Balki Iyer added, “This win is the result of an effective and productive relationship that we cultivated with Pine Gate and Blue Ridge Power over time. They are true pioneers in the energy storage market who see the financial value, lifecycle benefits and social impact that Eos’ sustainable battery technology offers for the stationary storage industry and we are thankful for their confidence in Eos.”

“With this agreement, we’re committing to more than just a high quality and innovative storage solution,” said Chris Dunbar, Chief Executive Officer of Blue Ridge Power. “We’re committing to a product that supports the growth of American jobs, American manufacturing and provides an important domestic source for high-quality storage. This is a win for everyone.”

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

About Blue Ridge Power
Blue Ridge Power is a full-service EPC company for renewable energy projects across the United States. The company brings integrated engineering, a qualified professional labor force and an expansive fleet of equipment to serve the needs of clients looking for a turnkey solution for solar and solar + storage projects. Blue Ridge Power currently oversees more than 1 GW of operational assets and has 700 MW under construction, with 2,500 MW in the pipeline for construction in 2021-2022. For more information, visit blueridgepower.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time, including those more fully described in Eos’s most recent filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31,2020 filed on February 26, 2021, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.

Agreement expected to enhance manufacturing operations and further scale production

EDISON, N.J., Oct. 05, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced that HI-POWER LLC, a wholly owned subsidiary of Eos, has entered into a $25 million equipment financing agreement with Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of debt and equipment financing to growth stage companies. The funds will be used to acquire equipment that will expand production of Eos’s proprietary aqueous Znyth® batteries.

Located in close proximity to more than 80% of Eos’s suppliers, the Pittsburgh, PA based manufacturing facility produces long duration (3-12 hour) energy storage solutions that provide reliable power to applications across the energy supply chain, including utilities, industrial and commercial sites.

“Securing this equipment financing is a key milestone in our ability to expand our manufacturing capacity and effectively balance our capital allocation strategy,” said Sagar C. Kurada, Chief Financial Officer of Eos. “As we continue to ramp up our manufacturing operations, we expect to have even greater visibility into managing our customer commitment and orders backlog, and improve our delivery lead times.”

Sagar continued, “We would like to thank Trinity for serving as our financing partner and helping further position Eos for growth as demand for long duration clean energy storage continues well into the future.”

“We are proud to partner with the team at Eos, whose mission to build a greener planet for future generations is being driven by their breakthrough Znyth® technology,” said Ryan Little, Managing Director of Trinity Capital. “We see a massive opportunity ahead for Eos and their innovative and sustainable design is clearly poised to transform multiple verticals.”

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, efficient, sustainable—and manufactured in the U.S.—it’s the core of our innovative systems providing utility, industrial, commercial, and residential customers with a proven, reliable energy storage alternative for 3- to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Contact
Investors/Media
Laura Ellis
ir@eose.com

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; the failure to convert firm order backlog to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with changes in federal, state, or local laws; risks associated with potential costs of regulatory compliance; risks associated with changes to U.S. trade policies; risks resulting from the impact of global pandemics, including the novel coronavirus, Covid-19; and risks related to adverse changes in general economic conditions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Eos’s most recent filings with the Securities and Exchange Commission, including Eos’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Eos makes with the Securities and Exchange Commission from time to time. Moreover, Eos operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Eos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Carlos Restrepo to lead Research, Development and Engineering Functions

EDISON, N.J., Sept. 22, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced that Carlos Restrepo has been named Chief Technology Officer. In this role, he will provide strategic direction over Eos’ proprietary technology and its alignment with overall business goals and customer needs.

“Carlos will be instrumental to the development of our technology as demand for energy storage continues to grow and new applications are identified,” said Joe Mastrangelo, CEO of Eos. “We are confident that his versatile engineering background, business acumen and energy experience will position him to be a key leader within our company and the industry more broadly.”

Throughout his nearly 20-year career in energy, Restrepo developed numerous electrical products and holds more than 30 patents involving electrical engineering innovations. Restrepo joins Eos after seven years at sonnen Inc., a global market leader in smart residential energy storage systems, where he served as Chief Technology Officer and Managing Director. Prior to this, he was responsible for the U.S. R&D program at Sputnik Engineering, a manufacturer of grid connected solar inverters. He also held various roles at Siemens Energy and Automation, where he managed a development team composed of engineers, technicians, designers and development consultants.

Restrepo has served on the Board of Directors for multiple organizations including the Georgia Solar Energy Association and Smart Electric Power Alliance. He holds Bachelor’s and Master’s degrees in electrical engineering from Georgia Institute of Technology and has completed executive education courses at Harvard University and Emory University.

“I look forward to working with the Eos team to harness the power of the company’s breakthrough technology and accelerate the product roadmap to meet the strong market demand,” Restrepo said. “As the world shifts to renewables, long duration clean energy storage will play a critical role and Eos is incredibly well-positioned to serve this growing market.”

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, efficient, sustainable—and manufactured in the U.S—it’s the core of our innovative systems providing utility, industrial, commercial, and residential customers with a proven, reliable energy storage alternative for 3- to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Contact
Investors/Media
Laura Ellis
ir@eose.com

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; the failure to convert firm order backlog to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with changes in federal, state, or local laws; risks associated with potential costs of regulatory compliance; risks associated with changes to U.S. trade policies; risks resulting from the impact of global pandemics, including the novel coronavirus, Covid-19; and risks related to adverse changes in general economic conditions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Eos’s most recent filings with the Securities and Exchange Commission, including Eos’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Eos makes with the Securities and Exchange Commission from time to time. Moreover, Eos operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Eos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Demby brings 20 years of executive leadership experience in global manufacturing and technology

EDISON, N.J., Sept. 01, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced the appointment of Claude Demby to the Board of Directors, effective August 27, 2021.

Currently President of Cree LED, a SMART Global Holdings, Inc. lighting innovation company, Demby has extensive executive leadership experience holding senior roles within the automotive, aerospace and materials technology industries. Prior to joining Cree LED, Demby served as CEO and Director of the Noël Group, a global manufacturer of synthetic foam materials, and President and COO of L&L Products. He began his career in engineering roles with Procter & Gamble and GE Plastics.

“We are thrilled to welcome Claude to our Board during this exciting time of growth and innovation at Eos,” said Russ Stidolph, Chairman of Eos. “As we seek new ways to further streamline our supply chain and manufacturing process, I believe Claude’s global manufacturing experience will bring valuable insight and perspective that will strengthen our product and our company.”

Demby has extensive Board experience, as he currently serves as Chair of the Nominating and Governance Committees and Board Director of Brown Capital Management Mutual Fund Trust. He is also a Board Director and Chair of the Nominating and Governance Committees of Piedmont Lithium Inc., a clean energy company, and previously served as a Board Director of the Federal Reserve Bank of Richmond’s Charlotte branch, including as Chairman from 2012 to 2017.

“The transition to clean energy is accelerating at a rapid pace and energy storage will play a crucial role,” Demby said. “I look forward to working with the leadership team and my fellow Board members at Eos to contribute to this important work, which will allow clean energy storage to be readily available around the globe.”

In addition to his professional experience and corporate board service, Demby has a strong record of community service through his founding and running of Valour Academy Schools, Inc., in Raleigh, NC, and serving as an advisory Board member of Duke Raleigh Hospital. He received an MBA from Rensselaer Polytechnic Institute and a Bachelor of Science degree in Chemical Engineering from the University of Delaware.

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, efficient, sustainable—and manufactured in the U.S—it’s the core of our innovative systems providing utility, industrial, commercial, and residential customers with a proven, reliable energy storage alternative for 3- to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; the failure to convert firm order backlog to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with changes in federal, state, or local laws; risks associated with potential costs of regulatory compliance; risks associated with changes to U.S. trade policies; risks resulting from the impact of global pandemics, including the novel coronavirus, Covid-19; and risks related to adverse changes in general economic conditions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Eos’s most recent filings with the Securities and Exchange Commission, including Eos’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Eos makes with the Securities and Exchange Commission from time to time. Moreover, Eos operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Eos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

EDISON, N.J., July 14, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced that it hosted Department of Energy (DOE) Secretary Jennifer M. Granholm and Congressman Frank Pallone, Jr., Chairman of the House Energy and Commerce Committee at its Edison, NJ headquarters to exhibit how its performance- and price-competitive energy storage technology is accelerating the shift to clean energy in the U.S.

Secretary Granholm and Congressman Pallone outlined policy priorities for Congress and the Biden Administration towards grid efficiency, net-zero emissions and the importance of energy storage technologies. This included Secretary Granholm’s announcement of the second target for DOE’s Energy Earthshot Initiative, with a new goal to reduce the cost of grid-scale, long-duration energy storage by 90% within the decade.

Secretary Granholm and Congressman Pallone observed firsthand the Eos Ingenuity Lab, where Eos develops its Znyth® aqueous zinc batteries, which are nonflammable, sustainable, and free of thermal runaway risk, in addition to being fully recyclable at the end of life. The Eos Energy Enterprises technology aligns with the priorities outlined in the DOE’s Energy Earthshot Initiative producing a safe, scalable, and efficient long-duration battery manufactured in the U.S.

“We want to thank Secretary Granholm and Congressman Pallone for their vision and focus on the importance of energy storage technologies for a sustainable energy future,” said Joe Mastrangelo, CEO of Eos. “America should be the leader of energy storage capabilities and innovation both domestically and for international exports. We can manufacture and scale this industry and usher in a new and long overdue era of “made in America” leadership.”

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3- to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the investment by KSP and benefits thereof, the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the Annual Report on Form 10-K filed by Eos with the Securities and Exchange Commission (“SEC”) for the year ended December 31, 2020, including those under the heading “Risk Factors” therein, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.

Contacts
Investors: ir@eose.com
Media: media@eose.com

EDISON, N.J., July 07, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, will make a $100 million investment in convertible senior notes to support the Company’s strategic growth initiatives.

“As we continue to build out our commercial team, expand our opportunity pipeline and optimize our manufacturing processes and technology, it will be extremely helpful to have an experienced and proven strategic partner that recognizes the tremendous market opportunity we have ahead of us,” said Joe Mastrangelo, CEO of Eos. “Koch brings a strong track record of investing in disruptive technology companies and we look forward to deploying this capital to accelerate growth and continue to drive shareholder value.”

“Long duration energy storage is quickly emerging as a critical component of the renewable energy value chain,” said Jeremy Bezdek, managing director of Koch Strategic Platforms. “Eos’ world-class leadership team and versatile technology provide us with great confidence in the Company’s future growth and ability to succeed in this rapidly growing market.”

Eos is a leading manufacturer of long duration (3-12 hour) energy storage solutions featuring its proprietary Znyth® technology. This zinc-powered battery addresses the variability of renewable energy sources by providing reliable power to applications across the energy supply chain, including utilities, and industrial and commercial sites. Eos’s Pittsburgh-based manufacturing facility, suite of support services and majority domestically sourced supply chain, enable it to scale up its production to serve the needs of customers and communities around the world.

Terms of the Transaction
Under the terms of the investment, a subsidiary of KSP will purchase $100 million in aggregate principal amount of Eos’ convertible senior notes (the “Notes”). The Notes will have an initial conversion price of approximately $20.00 per share of Eos’ Common Stock (the “Common Stock”), subject to customary anti-dilution adjustments. Eos will settle its conversion obligations through the delivery of shares of Common Stock, cash, or a combination of cash and shares of Common Stock, at Eos’ election. The Notes will mature in June 2026, unless earlier repurchased, redeemed or converted. Interest on the Notes will be paid semi-annually, and Eos is permitted to pay interest on the Notes in cash or through the issuance of additional Notes, at its election. Interest payments made in cash will be based on an interest rate of 5.0% per year, and interest payments made by issuing additional Notes will be based on an interest rate of 6.0% per year.

Additional information regarding this announcement may be found in a Form 8-K that will be filed with the U.S. Securities and Exchange Commission.

Advisors
B. Riley Securities, Inc. is acting as placement agent on behalf of Eos. BofA Securities, Inc. is acting as financial advisor to Eos, and Davis Polk & Wardwell LLP is serving as Eos’ legal advisor in the transaction.

Stinson LLP is serving as legal advisor to Koch Strategic Platforms.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. The notes and any shares of Eos common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3- to 12- hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

About Koch Strategic Platforms
With offices in Atlanta and Wichita, KSP desires to be the preferred investment partner of growth focused, strategic companies who are innovating in industries with disruptive potential. Created in 2020, the KSP team pursues public and private investments with companies where long-term mutual benefit can be realized. https://www.kochind.com/

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the investment by KSP and benefits thereof, the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the Annual Report on Form 10-K filed by Eos with the Securities and Exchange Commission (“SEC”) for the year ended December 31, 2020, including those under the heading “Risk Factors” therein, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.

EDISON, N.J., June 28, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced the appointment of Melissa Berube as General Counsel and David Leligdon as Senior Vice President, Projects, effective immediately. Berube will oversee all legal, compliance and governance functions across the organization and Leligdon will lead the design, execution, commissioning and servicing of customer projects globally.

“We are pleased to welcome Melissa and David to the Eos family at this critical and exciting time for our business,” said Joe Mastrangelo, CEO of Eos. “They both have the track record and experience to navigate the complexities of our industry, while also exuding the drive and commitment to make a significant impact on our future growth.”

Berube began her legal career as a corporate attorney at Schwabe, Williamson & Wyatt, in Portland, Oregon before moving in-house to Erickson Incorporated, a global helicopter aerial services provider and manufacturing company, where she advanced to General Counsel and Senior Vice President of Legal & People.  In this role, she provided guidance on a wide range of corporate legal matters, including commercial contracts, corporate financing and acquisition-related transactions, board relations and governance, compliance, litigation management, labor and employment.

“I look forward to contributing to the Eos team and applying my decade of experience in the legal field to a new challenge with a transformational company,” Berube said. “I’m excited to work with a world-class team and use my knowledge to help position the company for continued long-term success.”

Leligdon has over 25 years of industry experience with Black & Veatch, where he held a number of successive leadership roles. Leligdon brings extensive international experience having worked as a Vice President & Regional Director in several regions, most notably in South Africa. As Senior VP and Global Director in the Renewable Energy business line, he was responsible for the execution of solar, wind and battery projects. Most recently, he served as Senior Vice President and Director of the Distributed Infrastructure Maintenance Services where he was responsible for establishing the strategic direction and go-to-market plan for the infrastructure service and support sector.

“Eos has the vision, expertise and technology to accelerate the shift to renewable energy,” Leligdon said. “I am excited to help Eos move the needle by collaborating with our global customer base to supply energy storage systems that will power the communities of tomorrow.”

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the Prospectus included as part of the Registration Statement on Form S-1 filed by Eos with the Securities and Exchange Commission (“SEC”) on December 10, 2020, Registration No.333-251243, including those under the heading “Risk Factors” therein, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.

EDISON, N.J., June 21, 2021 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced it will join the broad-market Russell 3000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.

The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“The inclusion of Eos in the Russell 3000® Index marks an exciting milestone for our company and is a testament to the market reception to our technology and the tremendous opportunity we have in front of us,” said Sagar Kurada, Chief Financial Officer of Eos. “We are pleased to be listed among the distinguished companies in the Russell indexes and look forward to deeper engagement with investors and other key stakeholders.”

Eos is a leading manufacturer of long duration (3-12 hour) energy storage solutions featuring its proprietary Zynth® technology. This zinc-powered battery addresses the variability of renewable energy sources by providing reliable power to applications across the energy supply chain, including utilities, and industrial and commercial sites. Eos’s Pittsburgh-based manufacturing facility, suite of support services and majority domestically sourced supply chain, enable it to scale up its production to serve the needs of customers and communities around the world. In its Q1 earnings call, Eos reported more than 200 MWh of orders backlog and 265 MWh of discharged energy, equating to approximately 2 million operating cycles since 2016.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, please visit the “Russell Reconstitution” section on the FTSE Russell website.

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, efficient, sustainable — and manufactured in the U.S. — it’s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3- to 12- hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

Forward-Looking Statements
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos’s plans for expansion and acquisitions; and changes in Eos’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and Eos does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Eos; (2) the ability to maintain the listing of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the Prospectus included as part of the Registration Statement on Form S-1 filed by Eos with the Securities and Exchange Commission (“SEC”) on December 10, 2020, Registration No.333-251243, including those under the heading “Risk Factors” therein, and other factors identified in Eos’s prior and future SEC filings with the SEC, available at www.sec.gov.