EDISON, N.J., June 23, 2022 (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 remains on pace to triple production capacity to 800 MWh by the end of the year, has recently achieved several significant manufacturing milestones, and installation has begun on the largest energy storage project the Company has delivered to date.
In April, Eos shipped its 100th Energy Block energy storage system followed by completing production of the 20,000th battery module in early June at the Company’s Turtle Creek, Pennsylvania manufacturing facility. These milestones were accomplished in large part due to incremental production yield increases for three consecutive quarters culminating with crossing the 90% throughput yield threshold in early May.
“What the production team has managed to accomplish in a relatively short amount of time is nothing short of amazing,” said Joe Mastrangelo, CEO of Eos. “Even with the current challenges everyone is facing in terms of supply chain constraints, we’ve managed to keep our manufacturing capacity expansion on plan and to deliver orders to customers.”
This month, installation began on a 72 MWh Eos Znyth™ zinc-powered energy storage system at a 102 MW solar + storage facility in South Carolina. The site will house Eos’ largest system delivered to date and provide clean power to residents and businesses in the region.
These milestones follow substantial progress on the organization’s manufacturing facility expansion, which has increased square footage from 60,000 to almost 110,000. The capacity expansion will allow Eos to fill its $212 million orders in backlog as demand for long duration energy storage increases among utilities, commercial and industrial customers throughout the U.S. and abroad.
The Company will have created 200 clean energy jobs by year end for the Mon Valley area of Pennsylvania, a region that has traditionally been dedicated to steel production. In a study commissioned by the Company, the Pennsylvania Economy League of Greater Pittsburgh determined that Eos’ Turtle Creek facility generates $84 million in economic output and contributes $36 million in value add to the Gross Regional Product of Southwestern Pennsylvania.
Mastrangelo concluded, “We are proud to create jobs in a community that needs them and even more proud of the dedication and engagement this workforce brings. The men and women of Eos are excited to be directly responsible for accelerating the shift to clean energy.”
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, commercial, and residential 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.
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