Eos Energy Enterprises Selected as Finalist in Energy Category of Fast Company’s 2021 World Changing Ideas Awards
The 5th annual awards honor the products, concepts, companies, policies, and designs that are pursuing innovation for the good of society and the planet.
EDISON, N.J.— 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 been named a Finalist in the energy category of Fast Company’s 2021 World Changing Ideas Awards. The Awards honor the businesses, policies, projects, and concepts that are actively engaged and deeply committed to pursuing innovation when it comes to solving health and climate crises, social injustice, or economic inequality. Eos also received Honorable Mention in the Best World Changing Ideas North America category.
“This recognition is a testament to the commitment of our team and our positively ingenious approach to solving the world’s energy challenges,” said Joe Mastrangelo, Chief Executive Officer of Eos. “Our technology powers remote communities, brings resilience to the grid during natural disasters, and provides a means to decarbonize our energy ecosystem. We are truly changing the world by using American ingenuity to power a more positive future.”
Eos was selected for its EnergyBlock (now called Eos Cube) with Znyth® technology, a proven zinc-based energy storage system that has been perfected over more than a decade and was first manufactured for commercial application in November of 2020 at Eos’s facility in Pittsburgh, PA. The EnergyBlock system was designed with a “less is more” philosophy, resulting in a significant overall reduction in levelized cost of storage and a revolutionary product:
- It is safe: the underlying chemistry is non-toxic, nonflammable, free of thermal runaway risk, and can harmlessly ship, store, and install without a charge.
- It is scalable: Eos uses “off-the-shelf” components, with no precious or conflict materials, a simple manufacturing process, and a modular design that allows for easily tailored customer configurations.
- It is efficient: it performs across extreme temperatures without the need for complex, costly HVAC systems, has flexible charge and discharge rates, and is designed for 100% depth of discharge.
- It is sustainable: it has a 20+ year lifespan with extremely low annual degradation, and when at end of life, all components can be fully recycled in standard recycling facilities.
A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries across transportation, education, food, politics, technology, and more. Plus, several new categories were added, including Pandemic Response, Urban Design, and Architecture. The 2021 awards feature entries from across the globe, from Brazil to Denmark to Vietnam.
“There is no question our society and planet are facing deeply troubling times. So, it’s important to recognize organizations that are using their ingenuity, impact, design, scalability, and passion to solve these problems,” says Stephanie Mehta, editor-in-chief of Fast Company. “Our journalists, under the leadership of senior editor Morgan Clendaniel, have discovered some of the most groundbreaking projects that have launched since the start of 2020.”
About the World Changing Ideas Awards
World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.
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 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.