Pine Gate Renewables commits to 500 MWh of Eos energy storage systems over the next five years
TURTLE CREEK, Pa., April 01, 2024 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the "Company"), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced an expansion and extension of its existing agreement with Pine Gate Renewables. The new Master Supply Agreement (MSA) is for 500 MWh of energy storage systems to be delivered over the next five years. This agreement builds upon the companies' existing partnership and experience in deploying energy storage systems in the field.
"Pine Gate is one of Eos' first customers and working with them to deploy energy storage systems has made us a better company as we scale our capabilities," said Marshall Chapin, Chief Customer Officer of Eos. "Gaining the confidence of repeat customers is key to our success, and this expanded partnership with Pine Gate affirms that."
Eos launched its next generation Eos Z3 technology last year, a simpler, upgraded design of Eos' cutting-edge zinc hybrid technology that should deliver improved customer operating performance. The company is executing a manufacturing capacity expansion program, called Project AMAZE, with a plan to install up to 8 GWh of state of the art, made in the USA manufacturing capacity. The factory expansion in Pennsylvania's Mon Valley is planned to support the Company's commercial opportunity pipeline of 47 GWh as of December 31, 2023, as demand continues to increase for Long Duration Energy Storage.
This expansion signifies the deepening partnership between the two companies and reaffirms their shared commitment to accelerate the shift to longer duration clean energy. This agreement replaces the original agreement between the companies from 2021 and increases the size to 500 MWh in Eos energy storage systems.