As a part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE), through its Loan Programs Office (LPO), has recently announced the closing of a $303.5 million loan guarantee ($277.5 million of principal and $26 million of capitalized interest) to Eos Energy Enterprises, Inc.
Eos to finance the construction of two state-of-the-art production lines that will be able to produce enough stationary batteries per year to annual electricity needs of approximately 130,000 homes. These facilities will produce ‘Eos Z3’, a next-generation utility- and industrial-scale zinc-bromine battery energy storage systems (BESS) in Turtle Creek, Pennsylvania.
Pending additional LPO approvals and completion of an Environmental Assessment pursuant to NEPA, two additional lines in Duquesne, Pennsylvania, may also be included as part of the loan guarantee. This announcement underscores DOE’s commitment to fostering innovative energy solutions while creating good-paying, high-quality jobs across America.
