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Eos Energy, Hecate sign deal for 1,000MWh of battery storage across Southwest U.S.

November 06, 2020

S&P Global Market Intelligence ($):

Eos Energy Storage LLC will supply more than 1,000 MWh of zinc-based energy storage systems over the next two years for installations in Colorado, New Mexico and Texas, after it signed a preliminary agreement with developer Hecate Energy.

The planned projects, including stand-alone battery systems and solar-plus-storage arrays, would expand Eos’ development pipeline to 3,000 MWh, pending anticipated purchase orders in the next six to nine months, according to a Nov. 4 announcement.

Eos is working to complete a proposed merger with a special-purpose acquisition company backed by B. Riley Financial Inc. that would take it public on the Nasdaq and inject cash into the new company to facilitate its growth.

For the last 18 months, Eos has been focused on scaling up operations and bringing its “low-cost, nontoxic, nonflammable” energy storage systems to the marketplace, CEO Joe Mastrangelo said in a statement, highlighting the inherent safety advantages of the company’s battery chemistry compared with lithium-ion batteries.

With manufacturing outside of Pittsburgh, Pa., Eos has sought to reduce the cost and improve the power density of its aqueous zinc batteries while demonstrating their long-duration storage capabilities in the field. One recently funded project at Camp Pendleton, a U.S. Marine Corps base in San Diego County, Calif., is designed as a minimum 10-hour storage system, more than double the duration of most lithium-ion battery projects.

Hecate, a private developer from Nashville, Tenn., did not disclose which projects may use Eos batteries. The company has more than 2,700 MW of planned solar and energy storage projects in the U.S., according to S&P Global Market Intelligence data.

[Garrett Hering]

More ($): Eos Energy Storage strikes deal to deploy zinc-based batteries across Southwest

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