Eos Energy Announces Strategic Investment of up to $315.5 Million from Cerberus to Propel Eos’ Expansion and Path to Profitability
TURTLE CREEK, Pa. and NEW YORK, June 24, 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 a strategic investment of up to $315.5 million from an affiliate of Cerberus Capital Management LP (“Cerberus”), to support its growth plans during a secular shift in global energy markets. The demand for safe alternatives to incumbent battery technologies is increasing and the world is facing significant energy growth along with an increased focus on higher energy independence and security. Cerberus is a global leader in alternative investing with a dedicated platform focused on supply chain integrity and national security. The companies believe that this investment should accelerate Eos’ operating capabilities and industry position.