EDISON, NJ, July 14, 2021 (GLOBE NEWSWIRE) – Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of secure, scalable, efficient, and sustainable zinc-powered energy storage systems, announced today that Department of Energy (DOE) Secretary Jennifer M. Granholm and Congressman Frank Pallone, Jr., chairman of the House Energy and Trade Committee, visited his headquarters in Edison, NJ, to show how its high performance and competitively priced energy storage technology is accelerating the clean energy transition in the US
Foreign Minister Granholm and Congressman Pallone outlined the political priorities for Congress and the Biden administration in terms of grid efficiency, net zero emissions and the importance of energy storage technologies. This included announcing Minister Granholm’s second goal for the DOE’s Energy Earthshot Initiative, with a new goal of reducing the cost of long-term grid-scale energy storage by 90% over the decade.
Foreign Minister Granholm and Congressman Pallone watched firsthand the Eos Ingenuity Lab, where Eos is developing its Znyth® aqueous zinc batteries that are non-flammable, sustainable, thermal runaway free and fully recyclable at end of life. Eos Energy Enterprises technology aligns with the priorities of the DOE’s Energy Earthshot Initiative, producing a safe, scalable and efficient long-life battery made in the USA
“We would like to thank Minister Granholm and Congressman Pallone for their vision and focus on the importance of energy storage technologies for a sustainable energy future,” said Joe Mastrangelo, CEO of Eos. “America should lead the way in both domestic and international exports in terms of energy storage capacity and innovation. We can create and scale this industry and usher in a new and long overdue era of Made in America leadership. “
Eos Energy Enterprises, Inc. is accelerating the clean energy transition with positively engineered solutions that are transforming the world’s energy storage. Our groundbreaking Znyth® aqueous zinc battery was developed to overcome the limits of conventional lithium-ion technology. Safe, scalable, efficient, sustainable – and made in the USA – it is at the core of our innovative systems that today offer utilities, industrial and commercial customers a proven, reliable energy storage alternative for 3 to 12 hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information on Eos (NASDAQ: EOSE), please visit eose.com.
This press release contains certain statements that may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include, among other things, statements that relate to forecasts, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “can”, “could”, “plan”, “possible”, “potentially” ” predict, “project,” “should,” “would” and similar expressions may 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: KSP’s investment and benefits; Eos’s future financial performance; Eos expansion and acquisition plans; and changes in Eos’ strategy, future business, financial condition, estimated revenues and losses, 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, forward-looking statements should not be assumed to represent the parties’ views at a later date, and Eos assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of their publication, whether as a result of new information in the 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 from time to time disclosed in the Annual Report on Form 10-K filed by Eos with the Securities and Exchange Commission (“SEC”) for the year ended December 31, 2020, including those under the heading “Risk Factors” therein and other factors identified in Eos’ previous and future SEC filings with the SEC, available at www.sec.gov.
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