SUBSCRIBE
PROFILE

Eos Energy secures $303.5 million loan to accelerate long-duration battery manufacturing in the U.S.

Eos Energy Enterprises strengthens its position in the energy transition with a loan guaranteed by the U.S. Department of Energy. This funding supports zinc battery production expansion and the creation of hundreds of jobs in the U.S.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

Eos Energy Enterprises, Inc. (NASDAQ: EOSE), a specialist in zinc-based long-duration energy storage systems, has announced the closing of a $303.5 million loan guaranteed by the U.S. Department of Energy (DOE). This loan, provided under the Title 17 Loan program, marks a major milestone for the “American Made Zinc Energy” (AMAZE) project, which aims to increase Eos’s annual production capacity to 8 GWh by 2027.

Since its strategic decision to relocate its production from China to the United States, Eos has made strides in developing its technologies and reorganizing its production lines to enhance efficiency. With over 90% of components sourced domestically, the company aims to become a leader in manufacturing batteries essential to the energy transition.

Growing demand for long-duration batteries

The energy storage market is booming in the U.S. According to Fortune Business Insights, this sector could reach $31.4 billion by 2032, driven by the rise of renewable energy and the need to stabilize power grids. Eos plans to meet this demand by constructing four automated production lines, one of which is already operational. These facilities are expected to produce reliable, cost-effective, and sustainable batteries, offering an alternative to existing technologies.

Economic impact and AMAZE project goals

The DOE loan complements a strategic investment from Cerberus Capital Management, announced in June 2024. Together, these funds will support the AMAZE project, which is set to generate significant economic benefits in the Mon Valley region of Pennsylvania. The project anticipates creating 1,000 direct and indirect jobs, including apprenticeship programs in partnership with local schools and professional development organizations.

Eos continues to expand its order portfolio, valued at $589 million as of September 30, 2024, while growing its commercial pipeline, estimated at $14.2 billion. With these strengths, the company is well-positioned to play a key role in ensuring the long-term energy security of the United States.

  • Popular on energynews.pro
Nuclear energy retained in the European Union green taxonomy
Orazul Energy launches cash tender offer for its 2027 notes
Petrobras takes 27.5% stake in Block 4 offshore São Tomé with Shell and Galp
Italy could unlock €16bn in hydropower through new concession model
Westinghouse and EDF reactors deemed viable for Slovenia’s JEK2 nuclear project
Fidra Energy secures £445mn for 3.1 GWh energy storage project
Scottish developer Fidra Energy reaches financial close on its Thorpe Marsh site, with equity funding led by EIG and the UK’s National Wealth Fund, marking a significant step in the UK’s energy storage sector.
Grenergy secures $270mn in financing for Phase 6 of Oasis de Atacama
Grenergy has secured $270mn in non-recourse financing to install 3.5 GWh of batteries in Phase 6 of the Oasis de Atacama project, marking a major step in expanding its energy storage capacity in Chile.
Eos Energy launches DawnOS to optimise storage system management
Eos Energy rolls out DawnOS, a U.S.-developed control software platform designed to maximise performance and security across Eos Z3 storage systems.
StarCharge seals 1 GWh deal in India with Prozeal Green Energy
StarCharge has signed a contract to supply 1 GWh of battery energy storage systems to Prozeal Green Energy, strengthening its presence in the Indian market and continuing its international expansion.
ENGIE takes charge of optimising Saleux storage site for Kallista Energy
Kallista Energy has entrusted ENGIE with the commercial operation of its first BESS site in Saleux, with a capacity of 120 MW, scheduled for commissioning by the end of 2026.
PowerField activates automated FCR service linked to solar and storage
Dutch company PowerField has launched a fully automated frequency reserve service, integrating solar generation, battery storage and trading, with initial operations validated by grid operator TenneT.
Lyten restarts Northvolt operations in Sweden with former executive team
Following its acquisition of Northvolt’s assets, US-based Lyten has appointed several former executives of the Swedish battery maker to key roles to restart production in Europe.
TruGrid delivers three storage projects in Texas on time and without cost overruns
US-based contractor TruGrid has completed three battery installations in Texas ahead of schedule and within budget, despite weather disruptions and logistical challenges that typically impact such projects.
GazelEnergie to develop a 300 MW data center at its Saint-Avold site
GazelEnergie plans to build a data center at its coal-fired plant in Saint-Avold, with commissioning expected in 2028 and a capacity of 300 MW.
Ormat starts operations at Texas 60MW energy storage facility
Ormat Technologies has begun commercial operation of its new energy storage facility in Texas, alongside a seven-year tolling agreement and a hybrid tax equity deal with Morgan Stanley Renewables.
Grid connection requests for batteries exceed 500 GW in Germany
German grid operators face a surge in battery storage connection requests, driven by a flawed approval process.
TWAICE rolls out analytics tools across 290 MWh of storage at Fullmark Energy
TWAICE will equip four energy storage sites in Southern California with its analytics platform, supporting operator Fullmark Energy in CAISO market compliance and performance optimisation.
CATL deploys TENER Stack system in Brazil to accelerate regional expansion
CATL unveiled in São Paulo its new 9MWh TENER Stack system, designed for the South American market, responding to rising demand for energy storage driven by the growth of renewable energy.
EdgeConneX develops 350MW data centre platform in Japan
EdgeConneX has acquired a second site in the Osaka region, bringing its total capacity to 350MW to support the growth of the Cloud and AI market in Japan.
Containerized BESS Market to Reach USD 35.82 Billion by 2030, Says MarketsandMarkets
Driven by grid flexibility demand and utility investments, the global containerized BESS market will grow at an annual rate of 20.9% through 2030.
Group14 secures $463M and takes full control of its South Korean plant
The American battery materials manufacturer, Group14, finalizes a $463 million fundraising round and acquires full ownership of its South Korean joint venture from conglomerate SK Inc.
Energy Plug enters U.S. market with GGVentures through pilot agreement
Energy Plug Technologies partnered with GGVentures to deliver three energy storage systems to the U.S. construction sector, marking its first commercial breakthrough in this strategic market.
HD Renewable Energy connects a 50 MW battery to the Hokkaido grid
HD Renewable Energy has completed the connection of its Helios storage system to the Hokkaido grid. The 50 MW project is expected to enter commercial operation by the end of 2025, targeting multiple segments of the Japanese electricity market.
Ingeteam delivers 35 MW of energy storage through seven projects in Australia
Ingeteam partners with JinkoSolar and ACLE Services to equip seven sites in Australia, representing a total capacity of 35 MW and 70 MWh of energy storage.
Copenhagen Infrastructure Partners acquires major storage project in Arizona
Copenhagen Infrastructure Partners has acquired from EDF power solutions North America the Beehive project, a 1 gigawatt-hour battery storage facility located in Arizona.

Log in to read this article

You'll also have access to a selection of our best content.