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Eos Energy places important customer orders in Critical. known

EDISON, NJ, April 12, 2021 (GLOBE NEWSWIRE) – Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, announced orders today for Key customers including Hecate Energy, Azure Power and ZGlobal Inc. known to meet increased demand for energy storage in critical markets such as Texas, California and India.

The Hecate Texas project is the first order booked under the comprehensive agreement to supply over 1 GWh of energy storage projects to Hecate Energy (“Hecate”) announced by Eos in November 2020. Hecate is a leading global developer, owner and operator of solar, natural gas, wind and energy storage projects with contracted 2.1 GW and a pipeline of more than 12 GW. With the recent grid challenges in Texas from winter storms, energy storage is more important than ever to ensure a reliable and resilient grid. Eos’ clean energy solutions add value to grid operations by integrating renewable electricity and providing much-needed grid support. This project, and the broader agreement with Hecate, is aimed at meeting that specific need in many utility companies across Texas.

The Azure project is part of a large solar project in India that is installing Eos energy storage solutions to enable solar displacement. Azure Power (NYSE: AZRE) is a leading independent solar power producer with a pan-Indian portfolio of 6.9 GWh (as of February 28, 2021). India’s renewable market has seen dramatic growth in the past few years and storage is beginning to take off. especially since independent power generators (“IPPs”) such as Azure Power undertake to only use electricity from renewable energies in the country’s round-the-clock auctions. Eos’ success in India is fueled by the previous use of energy storage systems with a leading IPP to support the solar shift in this critical market, which demonstrated the safety and resilience of Eos technology in harsh environments including temperatures as high as 45 ° C .

The ZGlobal California project is paired with a solar project and represents a new long-term relationship for the company. ZGlobal Inc. is a power engineering consultancy employed by veterans of the California Independent System Operator (“CAISO”) and a variety of California utility companies .

“Texas and California represent important growth areas for Eos in the USA, while India offers great potential for our global expansion plans. We are pleased to receive orders from marquee customers in all of these markets, which we believe validates Eos’ technology solution with high-level mainstream customers to address long-term use cases such as renewable energy switch, ”said Balki Iyer, Eos Chief Commercial Officer . “We continue to see strong sales momentum as the benefits of our technology, including low operating costs, minimal carbon footprint and resilient supply chain, continue to resonate in the marketplace as customers realize that storage is essential for energy conservation and redefining the Network are vital. With this announcement, Eos’ backlog has grown to approximately $ 30 million, including more than 20 orders totaling approximately 107 MWh in the past six months. In addition, the company expanded its pipeline to more than $ 3.5 billion with delivery expected over the next four years. “

The Eos Znyth® technology can be used, among other things, for in-front of the meter network installations and behind-the-meter industrial applications. The zinc-powered batteries can be used both as a stand-alone storage device and in conjunction with renewable energies in the power grid, in addition to being used in commercial and industrial plants.

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 federal securities laws. Forward-looking statements include, among other things, statements that relate to forecasts, 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 may identify forward-looking statements, but the absence of these words does not mean that any statement is not forward-looking. Forward-looking statements may include, for example, statements about: the future financial performance of Eos; Eos expansion and acquisition plans; and changes in Eos’ strategy, future business, financial condition, estimated revenues and losses, projected costs, outlook, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release and current expectations, projections and assumptions and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be assumed to reflect the parties’ views at a later date, and Eos undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of their publication, whether as a result of new information in the future Events or for other reasons, unless required by applicable securities laws. You should not place undue reliance on these forward-looking statements. Due to a number of known and unknown risks and uncertainties, actual results or performance could differ materially from those expressed or implied in these forward-looking statements. Some factors that could cause actual results to differ include: (1) the outcome of legal proceedings that may be brought against Eos; (2) the ability to maintain the listing of Eos common stock on the NASDAQ; (3) the ability of Eos’ business to grow and profitably manage growth, maintain relationships with customers and suppliers, and retain management and key employees; (4) changes in applicable laws or regulations; (5) the possibility that Eos will be adversely affected by other economic, business and / or competitive factors; and (6) other risks and uncertainties that may be disclosed from time to time in the prospectus filed as part of the registration statement on Form S-1 / A filed by Eos with the Securities and Exchange Commission (“SEC”) on December 13, 2010. January 2021, registration number 333-251243, including those under the heading “Risk Factors” therein and other factors identified in Eos’ previous and future SEC filings with the SEC, available at www.sec.gov.

contacts Investors: Ed Yuen, ir@eose.com
Media: James McCusker, media@eose.com

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