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 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.
“Working with Pine Gate has made Eos a better company,” said Marshall Chapin, Chief Customer Officer for Eos. “We are excited to expand our relationship with them which started with developing the largest alternative chemistry storage project in the country and we look forward to continuing our growth together.”
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.
"Keeping pace with the market's growing demand for clean, affordable energy and long-duration storage requires constant innovation," said Joe Broom, Senior Vice President of EPC Management at Pine Gate Renewables. "Working with Eos opens the door to the expansion of long-duration, zinc-based battery 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.
