Eos Energy Storage secures $23M for grid-scale batteries

Eos Energy Storage announced a final closing of a $23 million Round C equity financing, supporting commercial launch of the company’s grid-scale battery technology. The round was led by AltEnergy, an energy technology and infrastructure investment firm. Other investors included OCI, NRG Energy (NYSE: NRG) and Fisher Brothers.

In January, Eos introduced its Aurora 1000|4000, a containerized 1MW/4MWh battery system, which will support renewable energy integration and peak demand reduction. To date, qualified pre-orders exceed 3,000MWh, with deliveries beginning next year.

Additionally, Eos developed the ZnythTM battery technology, which enables low-cost electricity storage.

Aurora systems are currently being tested with Con Edison of New York (NYSE: ED) and GDF SUEZ, and in the coming months with Pacific Gas & Electric (NYSE: PCG). Major utilities—including NRG, Exelon (NYSE: EXC), AEP (NYSE: AEP), Enel, and National Grid—have joined Eos’s Genesis program to support development, field testing, and commercial deployment of battery technologies.

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