Eos Energy Storage to Supply Zinc Batteries to Verdant Microgrid installations
October 08 2020 - 11:00AM
Business Wire
Eos Energy Storage LLC (“Eos”), a leading manufacturer of safe,
low-cost and long-duration zinc battery storage systems, today
announced a partnership with Verdant Microgrid (“Verdant”), a
custom microgrid solution provider. Eos will supply its Znyth™ Zinc
Hybrid Cathode Technology, the core of its Aurora™ stationary
energy storage system, to Verdant’s California-based microgrids
beginning in the fourth quarter of 2020.
As previously announced, B. Riley Principal Merger Corp. II
(“BMRG”), a publicly traded special purpose acquisition company,
and Eos have entered into a definitive merger agreement for a
business combination that would result in Eos becoming a publicly
listed company. Upon closing of the transaction, the combined
company will be renamed Eos Energy Enterprises, Inc. (“Eos Energy”)
and intends to list its shares of common stock on Nasdaq under the
ticker symbol “EOSE”.
The Eos battery features a 100% depth of discharge and a wide
operating temperature range to enable deployment without the use of
costly thermal management measures such as HVAC cooling systems and
fire suppression systems. The Znyth™ technology requires just five
core commodity materials that are derived from non-rare earth and
non-conflict minerals which are commercially available and
scalable. The technology is also patent protected and made in the
United States.
A microgrid is a self-sufficient energy system that generates
power in close proximity to the area it serves. These systems are
considered to be more efficient and cost effective than central
grids because they do not lose as much electricity in transit and
they strategically pull energy from various sources, such as the
central grid or a battery, depending on the local demand for
electricity at any given time.
“Verdant is excited to partner with Eos on this industrial
microgrid project,” said Robert Babcock, a Partner at Verdant. “The
Znyth™ battery technology and Eos’ configuration provide our
platform with fire safety and energy flexibility that we cannot get
from lithium-ion. We are confident that this first project between
Verdant and Eos will demonstrate how expansive and beneficial
microgrids can be for commercial clients as they provide
resiliency, sustainability and cost savings in one package. We look
forward to using Eos’ long duration solutions in both our
behind-the-meter and utility scale projects in the future."
In addition to the current applications, Eos and Verdant
anticipate their partnership will promote the benefits of solar
generation and storage, and set an example for future microgrid
applications in the United States.
“This partnership opens up new applications for Eos, with onsite
energy generation and storage taking center stage,” said Dr. Balki
G. Iyer, Chief Commercial Officer of Eos. “Verdant’s approach to
on- and off-grid energy management helps reduce spikes in demand
with a smooth, clean, cost efficient, reliable power supply. Good
technology is the key to creating these value stories that can open
a massive market for project owners and operators looking for
storage solutions.”
For more information about Eos and its Znyth™ Zinc Hybrid
Cathode Technology, please visit
https://eosenergystorage.com/products-technology/.
About Eos Energy Storage LLC
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. Eos has been pursuing
this opportunity since 2008 when it was founded. Eos has more than
10 years of experience in battery storage testing, development,
deployment, and operation. The Eos Aurora® system integrates Eos’
aqueous, Znyth® technology to provide a safe, scalable, and
sustainable alternative to lithium-ion.
https://eosenergystorage.com
About B. Riley Principal Merger Corp. II
BMRG was formed for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses.
About Verdant Microgrid
Verdant is a custom microgrid solution provider that provides
combined heat and power, solar, battery storage and demand
management in a turnkey, economical solution to energy intensive.
Verdant recognizes that rapidly evolving technology and electricity
market reforms present opportunities for energy-intense industries
to optimize their energy costs while easing the burden on local
utility grids. With Verdant, options for energy now include the
ability to meet power, heating and cooling requirements with onsite
generation. In addition, battery storage can be used to help offset
peak use periods and to reduce demand charges from utilities. In
extreme cases, Verdant energy and battery solutions can support
taking facilities “off grid.” https://www.verdantmicrogrid.com/
Additional Information about the Business Combination
In connection with the business combination, BMRG has filed a
preliminary proxy statement with the United States Securities and
Exchange Commission (“SEC”). BMRG stockholders and other interested
persons are advised to read, when available, the preliminary proxy
statement and any amendments thereto and, once available, the
definitive proxy statement, in connection with BMRG’s solicitation
of proxies for the meeting of stockholders to be held to approve,
among other things, the proposed business combination, because the
proxy statement will contain important information about BMRG, Eos
and the proposed business combination. When available, the
definitive proxy statement will be mailed to BMRG stockholders as
of a record date to be established for voting on the proposed
business combination. Stockholders will also be able to obtain
copies of the proxy statement, without charge, once available, at
the SEC’s website at www.sec.gov. Copies of the documents filed
with the SEC by BMRG when and if available, can be obtained free of
charge by directing a written request to B. Riley Principal Merger
Corp. II, 299 Park Avenue, 21st Floor, New York, New York 10171 or
by telephone at (212) 457-3300.
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version on businesswire.com: https://www.businesswire.com/news/home/20201008005726/en/
For Eos Energy Storage LLC Investors Ed Yuen
ir@eosenergystorage.com
Media Balki G. Iyer media@eosenergystorage.com
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