Energy storage technology firms Eos and Energy Vault have both released their Q2 results, with contrasting figures but both still having a long way to go to scale up and reach profitability.
US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has agreed a financing package with private equity firm Cerberus, comprised of separate loan and revolver facilities totalling US$315 million.
US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has reaffirmed revenue guidance and expects to achieve a positive contribution margin this year.
Zinc battery storage company Eos Energy Enterprises has received positive news from the US Department of Energy (DOE) regarding a US$398.6 million loan.
The four most high-profile energy storage system (ESS) companies that listed via SPAC mergers – Eos, Energy Vault, ESS Inc and Stem – have seen their share prices fall by an average of 80% since going public.
Zinc battery firm Eos Energy Enterprises saw reduced activity in Q2 as it transitioned to its Z3 product, while CEO Joe Mastrangelo discussed its backlog, the subject of a recent short-seller note.
Zinc battery firm Eos Energy Enterprises had a disappointing Q4 2022 with revenue falling both year-on-year and quarter-on-quarter, although its orders booked and order backlog continue to grow strongly.
