CEO of Eos Energy Enterprises Applauds House Action and Supports Swift Passage of the Build Back Better Act in the Senate to Jumpstart Domestic Manufacturing
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.”
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.
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.