Eos Energy Enterprises, Inc and Pine Gate Renewables Announces Partnership Expansion
December 12, 2023 at 04:30 pm EST
Share
Eos Energy Enterprises, Inc. announced that Eos and Pine Gate Renewables, a leading renewable energy company focused on development and strategic financing of solar and storage projects throughout the United States, have entered into a memorandum of understanding (MOU) to expand their existing partnership with a minimum additional volume of 500MWh. The partnership between the two companies launched in 2021 with projects in South Carolina and Utah. The MOU reflects the positive collaboration and trust between Eos and Pine Gate Renewables developed over the past two years and represents the future potential of American-manufactured energy storage.
The MOU provides a framework for the partnership which is expected to be developed into a final master supply agreement (MSA) between the two companies no later than March 29, 2024. The Agreement contributes 500MWh to the Company?s Pipeline and will be categorized as a letter of intent.
Eos Energy Enterprises, Inc. designs, develops, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial applications. The Company has developed a range of intellectual property with multiple patents covering battery chemistry, mechanical product design, energy block configuration and a software operating system (Battery Management System or BMS). The BMS software uses proprietary Eos-developed algorithms and includes ambient and battery temperature sensors, as well as voltage and electric current sensors for the electrical strings and the system. It focuses on manufacturing and selling turn-key direct current (DC) battery energy storage systems. It also plans to develop a turn-key alternating current (AC) system. The Company offers an advanced Znyth technology battery energy storage system (BESS) designed to provide the operating flexibility to manage increased grid complexity. Its primary market is North America.