Babcock & Wilcox Renewable Announces Global Partnership for Battery Solutions with Eos Energy Storage
October 13 2020 - 6:30AM
Business Wire
- B&W will Market Eos’ Battery Storage Solutions
Globally
- B&W is Exclusive Preferred Installer in U.S. and
Canada
- Eos Znyth® Zinc Battery is a Safe, Scalable and Sustainable
Renewable Energy Storage Technology
Babcock & Wilcox (B&W) (NYSE: BW), through its B&W
Renewable segment, has signed a strategic partnership agreement
with Eos Energy Storage LLC, to sell and service Eos’ innovative,
patented Eos Znyth® zinc battery solution for industrial and
utility-scale energy storage. Under this agreement, B&W
subsidiary The Babcock & Wilcox Company will market and sell
this pioneering battery technology to its customers worldwide and
B&W subsidiary Babcock & Wilcox Construction Co., LLC will
serve as Eos’ exclusive preferred installation provider for the
technology in the U.S. and Canada.
Under the agreement, B&W will market the Znyth zinc battery
storage solution to its global customer base, including industrial
customers such as refineries and pulp and paper plants, as well as
utility and power customers. In addition, B&W will immediately
begin collaborating with Eos on installation, commissioning and
maintenance scope for projects in Eos’ robust pipeline.
“The Znyth zinc battery storage solution has the potential to be
a real game-changer, offering proven energy storage capabilities
and improved safety performance over lithium-ion batteries.
Coupling it with B&W’s strong reputation with utility and
industrial customers worldwide, our construction and plant
maintenance capabilities, and our experienced global sales team is
an exciting development for both of our companies,” said Kenny
Young, B&W Chairman and Chief Executive Officer. “As the global
supply chain of high-quality lithium remains uncertain, and
lithium-ion applications are limited due to safety considerations,
we are particularly excited about Eos’ zinc batteries as a safer,
more sustainable alternative and look forward to introducing
B&W’s customers to this innovative energy storage option.”
“We are thrilled to partner with B&W. Their expertise in
energy and environmental technology will provide Eos customers with
high quality service and a depth of knowledge about the benefits of
our zinc-based battery systems,” said Eos CEO Joe Mastrangelo.
“B&W’s broad market reach in sales and services, along with its
extensive construction and installation experience, will enable us
to scale our business at a rapid pace to meet rising demand for our
safe and innovative storage solution. This will ensure that
sustainable and affordable energy storage is available to
utilities, power producers and industrial companies around the
world.”
Eos’ Znyth technology employs inexpensive, widely available
materials within a robust, scalable design to achieve long life and
extremely low cost. Coupled with B&W’s many decades of
installation and maintenance experience for customers in a broad
spectrum of industrial and utility markets, the B&W-Eos
strategic partnership offers customers a safe, reliable, economical
energy storage solution installed and serviced by the B&W
personnel they’ve come to know and trust with their plants’ service
needs.
About B&W
Headquartered in Akron, Ohio, B&W is a global leader in
energy and environmental technologies and services for the power
and industrial markets. Follow B&W on LinkedIn and learn more
at www.babcock.com.
About Eos Energy Storage
At Eos, we are on a mission to accelerate clean energy by
deploying stationary storage solutions that can help deliver the
reliable and cost-competitive power that the market expects in a
safe and environmentally sustainable way. Armed with a patent for a
membrane-free zinc battery technology, Eos has been pursuing this
opportunity since 2008 when it was founded. Eos Energy Storage has
10+ years of experience in battery storage testing, development,
deployment, and operation. The Eos Aurora® system integrates the
Company’s aqueous, zinc battery technology (Znyth®) to provide a
safe, scalable, and sustainable alternative to Lithium Ion.
https://eosenergystorage.com/.
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including, without limitation, statements relating to a
strategic partnership agreement with Eos Energy Storage LLC. These
forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties. For a
more complete discussion of these risk factors, see our filings
with the Securities and Exchange Commission, including our most
recent annual report on Form 10-K. If one or more of these risks or
other risks materialize, actual results may vary materially from
those expressed. We caution readers not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and we undertake no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201013005374/en/
Investor Contact: Megan Wilson Vice President, Corporate
Development & Investor Relations Babcock & Wilcox
704.625.4944 | investors@babcock.com
Media Contact: Ryan Cornell Public Relations Babcock
& Wilcox 330.860.1345 | rscornell@babcock.com
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