Eos Energy Enterprises Appoints New Chief Financial Officer

EDISON, NJ, December 14, 2021 (GLOBE NEWSWIRE) – Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of secure, scalable, efficient, and sustainable zinc-based energy storage systems, today announced, that Randall (“Randy”) B. Gonzales has been named Chief Financial Officer to succeed Sagar Kurada, who has announced his intention to step down effective January 11, 2022.

Joe Mastrangelo, CEO of Eos, said, “Randy is a proven CFO in the industry with an outstanding track record of delivering results and creating value. I am delighted to welcome Randy to Eos. He is an influential leader with a unique blend of capital allocation discipline, in-depth operational skills, and transformative leadership skills. He will be a strong partner in executing our strategic plan to grow our business and achieve strong operating results and I am delighted to have someone of such high level on the Eos team. “

As CFO, Mr. Gonzales will lead Eos’ financial organization and operations, including accounting and controlling, financial planning and analysis, taxation, investor relations and treasury.

Mr. Gonzales was previously Executive Vice President, Chief Financial Officer and Treasurer of Lydall, Inc. (NYSE: LDL), a global provider of specialty filtration and technical materials solutions, where he was responsible for Accounting & Finance, Strategy & Transformation, Tax, and Treasury , Internal audit, investor relations and IT organizations. From December 2014 to March 2018, Mr. Gonzales was Senior Vice President, Chief Financial Officer, and Treasurer of the Rail Division of Caterpillar (NYSE: CAT), a multi-billion dollar global provider of rail and transportation systems products and services. From March 2004 to November 2014, Mr. Gonzales held financial and operational leadership positions of increasing responsibility at Nissan Motor Co., Ltd., a Fortune Global 50 automaker, where he spent nearly six years at Nissan’s global headquarters in Japan.

The story goes on

Mr. Gonzales said, “Eos is at the forefront of solving the critical challenge of providing affordable, reliable and clean energy through its innovative long-term energy storage technology, and I am excited to join the company at a time of significant opportunity. I look forward to working with Joe and the team to advance Eos on its journey to becoming a world-class company. “

Effective January 11, 2022, Sagar Kurada will step down from his current position as Chief Financial Officer of Eos to facilitate a smooth transition. Mastrangelo said, “Sagar Kurada played a critical role in Eos’ initial public offering and positioned the company very well for future growth. I would like to thank Sagar personally and on behalf of the company for his valuable contribution to Eos and wish him all the best in his next role. ”Sagar becomes Chief Financial Officer of Newlight Technologies.

About Eos
Eos Energy Enterprises, Inc. is accelerating the clean energy transition with positively engineered solutions that are transforming the world’s energy storage. Our groundbreaking Znyth® aqueous zinc battery was developed to overcome the limits of conventional lithium-ion technology. Safe, scalable, efficient, sustainable – and made in the USA. – It is the heart of our innovative systems that today offer utility companies, industrial and commercial customers a proven, reliable alternative to energy storage. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information on Eos (NASDAQ: EOSE), please visit eose.com.

Forward-Looking Statements
This press release contains certain statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among other things, statements that are based on projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “possible”, “potentially” ” predict, “project,” “should,” “would” and similar expressions identify forward-looking statements, but the absence of these words does not mean that any statement is not forward-looking. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: changes that adversely affect the business in which we do business; our ability to accurately predict trends; our ability to generate cash, service debt, and take on additional debt; our ability to scale efficient manufacturing processes and accurately predict associated costs and efficiencies; Fluctuations in our income and operating results; Competition from existing or new competitors; failure to convert firm backlog into revenue; Risks related to security breaches in our information technology systems; Risks associated with legal proceedings or claims; Risks associated with changes in state, state, or local law; Risks associated with potential regulatory compliance costs; Risks associated with changes in US trade policy; Risks due to the effects of global pandemics, including the novel coronavirus Covid-19; and risks associated with adverse changes in general economic conditions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties and factors, including those described more fully in Eos ‘recent filings with the Securities and Exchange Commission, including Eos’ most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Additional information about potential risks that could affect actual results will be included in the following periodic reports and other filings that Eos may from time to time with the Securities and Exchange Commission. In addition, Eos operates in a highly competitive and rapidly changing environment and new risks and uncertainties may arise that could affect the forward-looking statements in this press release. Forward-looking statements only apply at the time of their publication. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Eos undertakes no obligation and does not intend to update or revise these forward-looking statements as a result of new information or future events, or otherwise.