EDISON, NJ, May 4, 2021 (GLOBE NEWSWIRE) – Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, announced today that it was named a finalist in the Energy Category of Fast Company’s 2021 World Changing Ideas Awards. The awards are given to companies, guidelines, projects and concepts that are actively committed to innovation when it comes to solving health and climate crises, social injustice or economic inequality. Eos also received an Honorable Mention for Best World Changing Ideas North America.
“This recognition is a testament to the dedication of our team and our ingenious approach to solving the world’s energy problems,” said Joe Mastrangelo, Eos chief executive officer. “Our technology powers remote communities, makes the grid more resilient to natural disasters, and provides a means of decarbonizing our energy ecosystem. We’re really changing the world by using American ingenuity to drive a more positive future. “
Eos was selected for its EnergyBlock (now 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 use in November 2020 at the Eos facility in Pittsburgh, PA . The EnergyBlock system was developed with the philosophy “less is more”, which overall leads to a significant reduction in storage costs and to a revolutionary product:
- It’s Safe: The underlying chemistry is non-toxic, non-flammable, free from thermal runaway, and can be harmlessly shipped, stored, and installed at no charge.
- It is scalable: Eos uses standard components with no valuable or conflicting materials, a simple manufacturing process and a modular structure that enables easily tailored customer configurations.
- It’s efficient: it works in 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’s sustainable: it has a lifespan of more than 20 years and extremely little annual deterioration. At the end of their service life, all components can be completely recycled in standard recycling plants.
A group of renowned Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries in the fields of transportation, education, food, politics, technology and more. Several new categories have also been added, including Pandemic Response, Urban Design, and Architecture. The 2021 Awards feature entries from around the world, from Brazil to Denmark to Vietnam.
“No question about it, our society and our planet are facing profoundly difficult times. It is therefore important to recognize companies 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, led by Senior Editor Morgan Clendaniel, discovered some of the most groundbreaking projects launched since early 2020.”
About the World Changing Ideas Awards
World Changing Ideas is one of Fast Company’s premier annual awards programs and focuses on social welfare to improve finished products and bold concepts that make the world a better place. A jury from different industries selects winners, finalists and honorable mentions based on feasibility and potential impact. With the aim of instilling ingenuity and promoting innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to work on solving the problems that affect us all.
About Eos
Eos Energy Enterprises, Inc. is accelerating the clean energy transition with highly sophisticated solutions that are changing the way the world stores electricity. Our groundbreaking Znyth® aqueous zinc battery is designed to overcome the limitations of traditional lithium-ion technology. Safe, scalable, efficient, sustainable – and made in the USA. – It is the core of our innovative systems that today offer utility, industrial and commercial customers a proven and reliable alternative to energy storage. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information on Eos (NASDAQ: EOSE), please visit eose.com.
Forward-Looking Statements
This press release contains certain statements that may constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements that relate to forecasts, projections or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate”, “believe”, “continue”, “might”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “possible”, “potentially” ” predict, “project,” “should,” “would” and similar expressions identify forward-looking statements, but the absence of these words does not mean that any statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos plans for expansion and acquisitions; Changes in strategy, future business, financial condition, estimated revenues and losses of Eos, projected costs, outlook, 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, projections and assumptions and involve a number of judgments, risks and uncertainties. Accordingly, any forward-looking statements should not be assumed to reflect the parties’ views at a later date, and Eos undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date they are made, whether as a result of new information, future events or for other reasons, unless required by applicable securities laws. You should not place undue reliance on these forward-looking statements. Due to a number of known and unknown risks and uncertainties, actual results or performance could differ materially from those expressed or implied in these forward-looking statements. Some factors that could cause actual results to differ include: (1) the outcome of legal proceedings that may be brought against Eos; (2) the ability to maintain the listing of Eos common stock on the NASDAQ; (3) the ability of Eos’ business to grow and profitably manage growth, maintain relationships with customers and suppliers, and retain management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos will be adversely affected by other economic, business and / or competitive factors; and (6) other risks and uncertainties set forth from time to time in the prospectus and contained in the registration statement on Form S-1 filed by Eos on December 10, 2020 with the Securities and Exchange Commission (“SEC”) has been filed, Registration No. 333-251243, including those under the heading “Risk Factors” and other factors set out in Eos’ previous and future SEC filings with the SEC, available at www.sec.gov.
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