Eos Energy Enterprises, Inc. Announces CFO Transition
January 23 2023 - 8:59AM
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading
provider of safe, scalable, efficient, and sustainable zinc-based
long-duration energy storage systems, today announced that Randall
(Randy) B. Gonzales will be stepping away from his Chief Financial
Officer responsibilities into a corporate advisory role and will be
succeeded by Nathan Kroeker, effective January 23, 2023.
“Over the past 12 months Randy has been a great business partner
and key architect in Eos’s ability to scale and to deliver products
to our customers,” said Joe Mastrangelo, CEO of Eos. “In addition,
he has been instrumental in the Company’s diversification of the
capital stack, including the $100 million senior secured term loan
that closed in the third quarter of 2022, the up to $100 million
at-the-market (“ATM”) equity program, and most recently the $13.75
million convertible note that was announced last week. Randy and I
have been working over the past two months to find the right
balance for him to spend more time with his family while continuing
as our CFO. Sadly, we concluded that this was the best decision for
Eos, and more importantly, Randy and his family.”
“Eos is a company with a bright future, and I believe that it is
best for the Company to have a CFO that is 100% focused on
delivering company results,” said Gonzales. “I look forward to
leading the CFO transition and continuing to work with the team in
my new capacity.”
Mr. Kroeker brings 25 years of finance and energy industry
experience. Nathan spent 10 years at Spark Energy, starting as the
CFO before eventually taking over as CEO in 2014. In 2014, Nathan
led the IPO process at Spark Energy - the first independent retail
energy company to successfully IPO on the NASDAQ. Nathan began his
career in public accounting with Coopers & Lybrand and Arthur
Andersen, before moving into transaction advisory with Ernst &
Young. In 2004, Nathan left consulting for progressive finance
roles at Direct Energy, a leading provider of energy and
home/business services in North America. Nathan began in energy
trading and upstream then eventually became VP, Finance and CFO of
Direct Energy’s North American Mass Markets division in 2006. In
2009, he joined the Macquarie Bank as Senior VP and CFO of their
global energy trading business.
“I was attracted to this opportunity because of the foundation
the team has built,” said Kroeker. “In my time talking to the team,
I see a company poised for growth and can’t wait to roll-up my
sleeves and get started.”
Mr. Kroeker received an undergraduate degree in Accounting from
the University of Manitoba, was a former CA in Canada, and is a
licensed CPA in Texas.
“We are excited to have Nathan joining our team. He brings
extensive finance and operational experience to our team. We
shouldn’t miss a step in executing our strategic growth plan,” said
Mastrangelo.
About Eos
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, commercial, and residential
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.
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