Eos Energy Enterprises Secures Second $22.7 Million DOE Loan Advance to Boost U.S. Battery Manufacturing Expansion

Reuters
07-02
Eos Energy Enterprises Secures Second $22.7 Million DOE Loan Advance to Boost U.S. Battery Manufacturing Expansion

Eos Energy Enterprises Inc., a leading American energy company specializing in zinc-based battery energy storage systems, has announced the receipt of its second loan advance from the Department of Energy's Loan Programs Office. The $22.7 million advance follows a previous disbursement of $68.3 million in December 2024, completing the first tranche of $90.9 million. This funding is dedicated to expanding Eos' U.S. battery manufacturing capacity as part of Project AMAZE. The financial support from the DOE covers 80% of eligible production expansion costs, enabling Eos to enhance its operational capacity to meet growing customer demand and further strategic growth objectives. This initiative aligns with Eos' long-term strategy to bolster a domestic supply chain, scale manufacturing, and create high-quality jobs in the U.S. The company is actively scaling efforts to meet increasing demands for American-made energy solutions and has submitted a purchase order for a second state-of-the-art manufacturing line.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Eos Energy Enterprises Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9487804-en) on July 01, 2025, and is solely responsible for the information contained therein.

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