Eos Energy Storage a leading zinc battery manufacturer announced that it has entered into an agreement to supply 1 GWh of standalone battery energy storage systems (“BESS”) to International Electric Power, LLC (IEP) for grid-connected projects with the Electric Reliability Council of Texas (ERCOT).
As per the announcement made on Monday, August 31, Eos will manufacture, design, and deliver multiple integrated AC BESS solutions starting in the third quarter of 2021. It will also provide operations and maintenance services across the projects’ 20-year expected lifespans.
“ERCOT is an important and growing market for energy storage. Long term energy storage will help mitigate massive investments that are needed in transmission facilities to relieve congestion,” said Balki G. Iyer, Chief Commercial Officer of Eos.
"We are particularly proud to announce that we will be supplying the entire 1 GWh from batteries sourced and manufactured here in the USA,” he added.
Eos has not confirmed the number of projects and their locations yet, but they would mainly be standalone storage projects.
The company also announced that it has entered an agreement to supply Carson Hybrid Energy Storage, LLC (CHES) with 500 MWh of integrated AC BESS. As per the deal, Eos will manufacture, design and deliver its zinc-based battery solutions to CHES starting in the first quarter of 2023.
Eos batteries will be used along with existing power generation and substation architecture to store renewable energy generated capacity and to provide power quality and better resilience to the California Power Grid.
Eos to soon become a publicly listed company
The zinc-battery major, having spent more than a decade in building battery technology rivalling the dominant Lithium-ion batteries also announced that it will soon become a publicly listed company.
Eos and B. Riley Principal Merger Corp. II (BRPM II), a special purpose acquisition company, confirmed that they have executed a definitive agreement for business combinations and if the agreement is executed as anticipated then BRPM II will merge with Eos by the fourth quarter of 2020, at which point Eos will become publicly listed on the New York Stock Exchange.
”We are pleased with our steady progress to enter into a definitive agreement for a business combination of BRPM II and Eos,” said Dan Shribman, CEO and CFO of BRPM II and Chief Investment Officer of B. Riley Financial.
”We believe the business combination will serve as the catalyst to accelerate the growth of Eos’ disruptive technology."
Eos announces battery energy storage projects in Texas and California
2nd Sep 2020