EOS nets US$23 million in equity financing

LinkedIn
Twitter
Reddit
Facebook
Email

Utilities including Con Edison and PG&E in the states are looking to trial EOS’ battery systems. Image: Eos Energy Storage facebook page.
Energy storage solution provider Eos Energy Storage has announced that it has raised US$23 million in Round C equality financing — which it will use to help its commercial launch of the company’s grid-scale battery technology.

Energy technology and infrastructure investment firm AltEnergy led the round of financing, while other investors included OCI, NRG Energy and Fisher Brothers.

Michael Oster, CEO of EOS, said: “We’re gratified to see this response both from our investors and from the market. Demand is being driven by utilities and developers in key international markets spanning six continents. We couldn’t have found better financial partners to work with as we scale up to supply gigawatt-hours of commercial systems into a diversified project pipeline.”

Eos is now selling its Aurora 1000|4000, a containerized 1MW/4MWh DC battery system, which will help improve renewable energy integration, lower peak demands and cut into consumers’ electricity bills. Pre-orders for the system have now surpassed 3000MWh and are continuing to grow, having been advertised on the market since January at a price of US$160 per kWh, with shipments starting in early 2016. The company claims the technology of its zinc hybrid cathode batteries, which use water-based electrolytes, enable the relatively low pricing.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Aurora systems are already being tested with Con Edison of New York and GDF SUEZ, while Pacific Gas & Electric (PG&E) out in California will also test the product in the near future.

Russell Stidolph, founder and managing director at AltEnergy, said: “We have evaluated the entire energy storage landscape and view Eos as the clear leader in cost, safety, and performance. It’s the combination of great technology and a strong management team that we believe will make Eos a big winner in the multibillion-dollar stationary storage market. As investors, we appreciate the company’s emphasis on capital efficiency and believe that Eos is on track to deliver a game-changing product in 2016.”

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

September 5, 2025
South Korean company SK On has entered the US BESS market with LFP batteries, securing a supply contract with Flatiron Energy Development.
September 4, 2025
In a double-hit of Texas news, Ormat is commencing operations at its Lower Rio facility, Engie is partnering with Prometheus Hyperscale to power data centres.
September 4, 2025
Australia’s Clean Energy Finance Corporation (CEFC) has announced its largest-ever investment commitment, with AU$3.8 billion (US$2.5 billion) allocated to support the Marinus Link interconnector connecting the states of Tasmania and Victoria.
September 4, 2025
Australian battery storage developer Akaysha Energy has secured an AU$300 million (US$196 million) corporate debt facility to accelerate its growing portfolio of utility-scale battery energy storage system (BESS) projects across Australia and global markets.
September 3, 2025
During the morning of 30 August 2025, the California Department of Forestry and Fire Protection (CAL FIRE) responded to a possible vegetation fire in the area of independent power producer (IPP) Arevon Energy’s California Flats solar-plus-storage project.

Most Popular

Email Newsletter