Eos Energy Hosts U.S. Secretary of Energy, Jennifer Granholm and Congressman Frank Pallone for Tour of Battery Facility, DOE ...
July 14 2021 - 5:01PM
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading
provider of safe, scalable, efficient, and sustainable zinc-powered
energy storage systems, today announced that it hosted Department
of Energy (DOE) Secretary Jennifer M. Granholm and Congressman
Frank Pallone, Jr., Chairman of the House Energy and Commerce
Committee at its Edison, NJ headquarters to exhibit how its
performance- and price-competitive energy storage technology is
accelerating the shift to clean energy in the U.S.
Secretary Granholm and Congressman Pallone outlined policy
priorities for Congress and the Biden Administration towards grid
efficiency, net-zero emissions and the importance of energy storage
technologies. This included Secretary Granholm’s announcement of
the second target for DOE’s Energy Earthshot Initiative, with a new
goal to reduce the cost of grid-scale, long-duration energy storage
by 90% within the decade.
Secretary Granholm and Congressman Pallone observed firsthand
the Eos Ingenuity Lab, where Eos develops its Znyth® aqueous zinc
batteries, which are nonflammable, sustainable, and free of thermal
runaway risk, in addition to being fully recyclable at the end of
life. The Eos Energy Enterprises technology aligns with the
priorities outlined in the DOE’s Energy Earthshot Initiative
producing a safe, scalable, and efficient long-duration battery
manufactured in the U.S. “We want to thank
Secretary 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 be the leader of energy storage capabilities and
innovation both domestically and for international exports. We can
manufacture and scale this industry and usher in a new and long
overdue era of “made in America” leadership.”
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, and commercial customers with 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 about Eos (NASDAQ: EOSE), visit eose.com.
Forward-Looking StatementsThis press release
includes certain statements that may constitute “forward-looking
statements” for purposes of the federal securities laws.
Forward-looking statements include, but are not limited to,
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements may include, for example, statements about: the
investment by KSP and benefits thereof, the future financial
performance of Eos; Eos’s plans for expansion and acquisitions; and
changes in Eos’s strategy, future operations, financial position,
estimated revenues, and losses, projected costs, prospects, 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, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties.
Accordingly, forward-looking statements should not be relied upon
as representing the parties’ views as of any subsequent date, and
Eos does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws. You should not place undue reliance on these forward-looking
statements. As a result of a number of known and unknown risks and
uncertainties, actual results or performance may be materially
different from those expressed or implied by these forward-looking
statements. Some factors that could cause actual results to differ
include, but are not limited to: (1) the outcome of any legal
proceedings that may be instituted against Eos; (2) the ability to
maintain the listing of Eos’s shares of common stock on NASDAQ; (3)
the ability of Eos’s business to grow and manage growth profitably,
maintain relationships with customers and suppliers and retain its
management and key employees; (4) changes in applicable laws or
regulations; (5) the possibility that Eos may be adversely affected
by other economic, business, and/or competitive factors; and (6)
other risks and uncertainties indicated from time to time 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’s prior and future SEC filings with the
SEC, available at www.sec.gov.
ContactsInvestors: ir@eose.comMedia:
media@eose.com
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