Eos Energy Storage Raises $23 Million to Expand Manufacturing

(Bloomberg) — Eos Energy Storage, a closely held producer
of grid-scale battery systems, completed a $23 million equity
financing round to expand commercial manufacturing.

AltEnergy LLC led the Series C financing, which also
included existing investor NRG Energy Inc., New York-based Eos
said in a statement Tuesday.

Consolidated Edison Inc. and Engie, the French utility
formerly known as GDF Suez, are among the power companies
testing Eos’s batteries. The U.S. energy-storage market may
triple this year to about 220 megawatts of installations,
according to GTM Research.

“Demand is being driven by utilities and developers in key
international markets spanning six continents,” Eos Chief
Executive Officer Michael Oster said in the statement.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Carlos Caminada

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