Eos Announces $500M Expansion Program to Address Long-Duration Energy Storage Demand
Eos Energy Enterprises has announced a $500 million expansion program, Project AMAZE - American Made Zinc Energy, to build clean energy storage production capacity of 8 GWh by 2026 using its Eos Z3 energy storage system.
The project supports Eos' strategy to address increased long-duration energy storage demand driven by the proposed Inflation Reduction Act (IRA).
The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) has issued a $398.6 million conditional commitment for a loan guarantee, which is expected to fund 80% of the expansion in Pennsylvania, if the loan is finalized.
The facility will enhance Eos’ investment in American manufacturing with the increased production of its zinc-based energy storage systems.
“The IRA implementation requires us to move with speed and urgency if the energy industry is going to meet the demand for long-duration energy storage,” said Joe Mastrangelo, CEO of Eos Energy Enterprises. “Project AMAZE should allow Eos to fully commercialize a safe American-made energy storage alternative aimed at creating a resilient, diversified lower carbon energy future.”
The Eos Z3 battery with American components is designed for mass production and meeting low-cost, long-duration, grid-scale stationary energy storage requirements. Eos can access the 45X advanced manufacturing direct pay tax credits available under the IRA through domestic production.
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The Eos Z3 battery is based on Eos’ Znyth battery technology, which uses earth-abundant raw materials for manufacturing and is intended to overcome many limitations in other stationary energy storage solutions.
Eos and ACRO Automation Systems have collaborated to design, develop, and implement up to four state-of-the-art high-output manufacturing lines.
“We are putting in place all the elements that will allow us to build an efficient, optimized, state-of-the-art production facility at scale to deliver on a nearly 200 GWh market opportunity,” said Nathan Kroeker, Eos’ Chief Financial Officer. “We believe we can pair the conditional commitment from the DOE with private capital and state and local investment programs to meet our requirements.”
Once operational, the project is expected to create about 650 new green jobs in Pittsburgh.
Eos has partnered with the Allegheny Conference on Community Development and its economic development affiliate, the Pittsburgh Regional Alliance, The Heinz Endowment, The Mon Metro Chamber of Commerce, University of Pittsburgh, Carnegie Mellon University, Partner4Work, Trade Institute of Pittsburgh, Woodland Hills School District, and Community College of Allegheny County to attract local workforces and build green tech careers.
