Eos Energy Successfully Launches Commercial Production on First State-of-the-Art Manufacturing Line

Company achieves critical Project AMAZE manufacturing milestone to meet future demand for long duration battery storage

TURTLE CREEK, Pa., July 01, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced it successfully launched commercial production on its first state-of-the-art (SotA) manufacturing line after being installed and commissioned in Turtle Creek, Pennsylvania, propelling the Company’s ability to produce Eos Z3^TM batteries at scale.

Launching commercial production marks a significant milestone in the Company’s operational capabilities and ability to serve the growing long duration energy storage demand. The process of bringing the line into production involved thorough evaluation and validation of critical mechanical processes, software integration and overall line performance.

“The Eos team continues to show an ability to achieve operational milestones. Working with ACRO Automation, we installed and commissioned the line in just over five weeks from achieving Factory Acceptance Testing,” said Joe Mastrangelo, Eos Chief Executive Officer. “The first fully commissioned line along with the recent Cerberus investment are clear signals to the market that we have the resources and capabilities to produce Z3 storage systems in the United States for large scale customer projects.”

The Company continues to see future projects becoming larger in size and scale as energy demand increases. With the newly installed SotA manufacturing line, Eos will begin ramping manufacturing capacity over the next six months to 1.25 GWh of annualized manufacturing capacity, with expansion plans for 2 GWh on line 1 with further investment. Successful line 1 implementation is a critical cost-out component for the Company’s path to profitability. When producing at scale, Eos forecasts Z3 production costs to drop by nearly half with improved overhead costs and variable labor utilization.

"The process we followed from initial discrete manufacturing to semi-automation production provided a disciplined framework to quickly develop our first SotA line, while optimizing capital costs. Executing on this project required launching a new product design, automating it, and incorporating industry 4.0 integration to achieve the necessary performance and yield,” said Chris Dellinger, Eos Sr. Director of Advanced Manufacturing. “This milestone represents a major step forward in our manufacturing capabilities, allowing us to deliver heightened precision and efficiency in our production processes and we look forward to further optimize these capabilities and continue to execute Project AMAZE.”