Eos Energy secures a 3 MW energy storage project with Faraday Microgrids for a California tribal microgrid.
Quiver AI Summary
Eos Energy Enterprises, Inc. has announced a new order with Faraday Microgrids to deploy a 3 MW / 15 MWh Eos Z3™ energy storage system for a commercial microgrid project on tribal land in California, partially funded by the California Energy Commission. This project aims to develop a renewable energy microgrid that enhances the resilience of tribal facilities by providing backup power and utility services. Eos views this contract as a significant endorsement of its Z3 systems and partnership with established entities like Faraday and the CEC, underscoring its commitment to American-made energy solutions and expanding its presence in California's growing energy market. Faraday's CEO emphasized the project's role in supporting energy independence for a Native American community and contributing to grid stability in Northern California.
Potential Positives
- Eos has secured a significant order to deploy a 3 MW / 15 MWh Eos Z3™ system, highlighting its growing presence in the renewable energy market.
- The project is partially funded by the California Energy Commission, indicating strong government support for Eos' initiatives.
- This deployment is part of a repeat partnership with Faraday Microgrids, demonstrating established commercial relationships and ongoing trust in Eos' technology.
- The project emphasizes Eos' commitment to American-made energy solutions, supporting energy independence and resilience for tribal facilities in California.
Potential Negatives
- The press release contains numerous forward-looking statements, indicating a level of uncertainty about the company's future performance and operations, which may raise concerns for investors.
- The disclosure of risks related to the ability to service indebtedness and secure additional financing could signal potential financial instability.
- The mention of risks associated with competition and the ability to convert order backlog to revenue may reflect challenges in sustaining growth and market position.
FAQ
What is the Eos Z3™ system?
The Eos Z3™ system is a zinc-based long-duration energy storage solution designed for various applications, including microgrids.
What is the purpose of the project with Faraday Microgrids?
This project aims to enhance energy resilience for a Native American community through a renewable energy microgrid.
How is the project funded?
The project is partially funded by the California Energy Commission, supporting its development and implementation.
What benefits does the Eos Z3™ provide to the community?
The system offers critical backup power, demand savings, and utility ancillary services to enhance operational stability.
How does this project impact American energy independence?
This project supports domestic manufacturing and advances the shift towards American energy independence through innovative storage solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EOSE Insider Trading Activity
$EOSE insiders have traded $EOSE stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $EOSE stock by insiders over the last 6 months:
- JOE MASTRANGELO (Chief Executive Officer) sold 270,384 shares for an estimated $1,854,834
- NATHAN KROEKER (Chief Commercial Officer) sold 152,856 shares for an estimated $1,048,592
- MICHAEL W SILBERMAN (General Counsel) sold 100,943 shares for an estimated $692,468
- SUMEET PURI (Chief Accounting Officer) sold 36,173 shares for an estimated $248,146
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EOSE Hedge Fund Activity
We have seen 111 institutional investors add shares of $EOSE stock to their portfolio, and 81 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DRIEHAUS CAPITAL MANAGEMENT LLC added 3,559,725 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,455,760
- GROUP ONE TRADING LLC added 2,636,131 shares (+228.9%) to their portfolio in Q1 2025, for an estimated $9,964,575
- ALYESKA INVESTMENT GROUP, L.P. removed 1,628,500 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $6,155,730
- UBS GROUP AG removed 1,326,526 shares (-40.1%) from their portfolio in Q1 2025, for an estimated $5,014,268
- BARINGS LLC removed 1,204,430 shares (-50.1%) from their portfolio in Q1 2025, for an estimated $4,552,745
- AMERICAN FINANCIAL GROUP INC added 1,182,310 shares (+174.0%) to their portfolio in Q1 2025, for an estimated $4,469,131
- GOLDMAN SACHS GROUP INC added 1,050,128 shares (+36.8%) to their portfolio in Q1 2025, for an estimated $3,969,483
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
EDISON, N.J., May 28, 2025 (GLOBE NEWSWIRE) --
Eos Energy Enterprises, Inc. (NASDAQ: EOSE)
("Eos" or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage systems sourced and manufactured in the United States, today announced it has secured an order with Faraday Microgrids to deploy a 3 MW / 15 MWh Eos Z3™ system for a commercial microgrid application on tribal land in California.
Funded partially by the California Energy Commission (CEC), the project will support the development of a renewable energy microgrid featuring a highly flexible long duration energy storage system, designed to bolster resilience for the tribe’s facilities, provide critical backup power, and deliver demand savings and utility ancillary services.
“This strategic project further demonstrates the performance and reliability of our Z3 systems in real world applications,” said Nathan Kroeker, Eos Chief Commercial Officer and Interim Chief Financial Officer. “As a repeat order through our established partners at Faraday and the CEC, this deployment serves as a testament to the strength of our commercial relationships and reinforces our mission to deliver resilient, reliable and domestically manufactured energy solutions.”
The project highlights Eos’ continued momentum in California’s growing energy market and its role in supporting American energy independence. Along with its Z3 systems, Eos will also provide integration services to ensure seamless deployment and operation.
“It is our great pleasure to once again partner with Eos to deploy their cutting-edge zinc-bromide energy storage technology in one of the largest renewable energy microgrids in the Western United States,” said Faraday Chief Executive Officer, David Bliss. “This will support a Native American community and contribute to bulk grid-edge power stability and availability - demonstrating the ability of distributed energy resources to support the safety and growth of vibrant communities in California and across North America.”
This is Eos’ eighth project in partnership with the CEC, and second with Faraday Microgrids, highlighting the Company’s growing presence in this critical market and the state’s commitment to advancing Made-in-USA energy storage applications.
About Eos Energy Enterprises
Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit
eose.com
.
About Faraday Microgrids
Faraday Microgrids
is the trusted guide for hospitals, industrial facilities, and institutions seeking energy independence. We design, build, and operate turnkey microgrid systems that cut energy costs, boost reliability, and support sustainability—without the complexity. From financing to installation and long-term support, Faraday delivers custom energy systems that keep critical operations running, no matter what.
Contacts
Investors:
ir@eose.com
Media:
media@eose.com
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, for the fiscal years December 31, 2025, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing line, statements regarding our future expansion and its impact on our ability to scale up operations, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements regarding our expectation that our new comprehensive insurance program will provide increased operational and economic certainty, statements that refer to the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.
Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
