EDISON, N.J., March 09, 2022 (GLOBE NEWSWIRE) – EOS Energy Enterprises, Inc. (NASDAQ: EOSE) (“EOS”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced it entered into a master supply agreement with Bridgelink Commodities, LLC (“Bridgelink”) for proposed storage projects across Texas. Bridgelink has committed to purchase 240 MWh of energy storage capacity provided by Eos’s Znyth™ zinc-based technology, accompanied by an option to purchase long-term maintenance support, with an additional option to expand to a total of 500 MWh over a term of 3 years, representing a total order value of up to $150 million. Bridgelink, which has over 8 GW of renewable generation projects in development, will rely on Eos technology to support energy curtailment recapture, providing resilience to the local power grid overseen by the Electric Reliability Council of Texas (“ERCOT”).
“We continue to be excited about our ability to deliver flexible energy storage solutions to the market,” said Joe Mastrangelo, Chief Executive Officer of Eos. “We take great pride in being able to partner with Bridgelink to help build the energy infrastructure of the future and are confident that our agreement will be the beginning of a fruitful partnership for many years to come.”
William Flaherty, Managing Director at Bridgelink, said, “ERCOT is a dynamic market that requires long duration storage technology to achieve success in this evolving environment. Eos’ zinc-based battery is a perfect solution for Bridgelink thanks to their U.S.-made, safe, and low opex technology. Together, Eos and Bridgelink look forward to supporting the next paradigm of a reliable ERCOT grid while adding manufacturing jobs in U.S.”
“With this partnership, our backlog grows to more than $200 million and is rapidly approaching 1 GWh. We continue to make real progress towards our $400 million booked order target for 2022 with a commercial opportunity pipeline of more than $4 billion,” said Balki Iyer, Chief Commercial Officer of Eos.
The customer win follows the recent announcement that Eos will expand its Pittsburgh manufacturing facility to more than triple output to 800 MWh by year-end in order to meet production demand for its Znyth™ aqueous zinc batteries. The expansion is expected to create more than 125 green jobs and increase the facility to nearly 100,000 square feet.