What Happened to Eos Energy Enterprises?
Ticker: EOSESPAC Year: 2020Merger: 2020
Return
-46.6%
Current Price
$5.34
Peak Price
$31.95
Trust Size
$885M
Summary
Eos Energy Enterprises develops and manufactures zinc-based battery energy storage systems for grid-scale applications, offering a non-lithium alternative for long-duration energy storage.
What Happened
Eos went public in November 2020 through a merger with B. Riley Principal Merger Corp II. The company's proprietary zinc battery technology is designed for utility-scale energy storage as an alternative to lithium-ion batteries. Eos has faced manufacturing scale-up challenges and significant cash burn, but received a $398.6 million loan from the U.S. Department of Energy in 2023 to expand manufacturing capacity.
Timeline
2020-05-18
S-1 Registration Filed
2020-10-23
Merger Proxy Filed (DEFM14A)