Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading
provider of safe, scalable, efficient, and sustainable zinc-based
energy storage systems, today announced it has been named a
Finalist in the energy category of Fast Company’s 2021 World
Changing Ideas Awards. The Awards honor the businesses, policies,
projects, and concepts that are actively engaged and deeply
committed to pursuing innovation when it comes to solving health
and climate crises, social injustice, or economic inequality. Eos
also received Honorable Mention in the Best World Changing Ideas
North America category.
“This recognition is a testament to the commitment of our team
and our positively ingenious approach to solving the world’s energy
challenges,” said Joe Mastrangelo, Chief Executive Officer of Eos.
“Our technology powers remote communities, brings resilience to the
grid during natural disasters, and provides a means to decarbonize
our energy ecosystem. We are truly changing the world by using
American ingenuity to power a more positive future.”
Eos was selected for its EnergyBlock (now called Eos Cube) with
Znyth® technology, a proven zinc-based energy storage system that
has been perfected over more than a decade and was first
manufactured for commercial application in November of 2020 at
Eos’s facility in Pittsburgh, PA. The EnergyBlock system was
designed with a “less is more” philosophy, resulting in a
significant overall reduction in levelized cost of storage and a
revolutionary product:
- It is safe: the underlying chemistry is non-toxic,
nonflammable, free of thermal runaway risk, and can harmlessly
ship, store, and install without a charge.
- It is scalable: Eos uses “off-the-shelf” components, with no
precious or conflict materials, a simple manufacturing process, and
a modular design that allows for easily tailored customer
configurations.
- It is efficient: it performs across extreme temperatures
without the need for complex, costly HVAC systems, has flexible
charge and discharge rates, and is designed for 100% depth of
discharge.
- It is sustainable: it has a 20+ year lifespan with extremely
low annual degradation, and when at end of life, all components can
be fully recycled in standard recycling facilities.
A panel of eminent Fast Company editors and reporters selected
winners and finalists from a pool of more than 4,000 entries across
transportation, education, food, politics, technology, and more.
Plus, several new categories were added, including Pandemic
Response, Urban Design, and Architecture. The 2021 awards feature
entries from across the globe, from Brazil to Denmark to
Vietnam.
“There is no question our society and planet are facing deeply
troubling times. So, it’s important to recognize organizations that
are using their ingenuity, impact, design, scalability, and passion
to solve these problems,” says Stephanie Mehta, editor-in-chief of
Fast Company. “Our journalists, under the leadership of senior
editor Morgan Clendaniel, have discovered some of the most
groundbreaking projects that have launched since the start of
2020.”
About the World Changing Ideas AwardsWorld
Changing Ideas is one of Fast Company’s major annual awards
programs and is focused on social good, seeking to elevate finished
products and brave concepts that make the world better. A panel of
judges from across sectors choose winners, finalists, and honorable
mentions based on feasibility and the potential for impact. With
the goals of awarding ingenuity and fostering innovation, Fast
Company draws attention to ideas with great potential and helps
them expand their reach to inspire more people to start working on
solving the problems that affect us all.
About Eos Eos Energy Enterprises, Inc. is
accelerating the shift to clean energy with positively ingenious
solutions that transform how the world stores power. Our
breakthrough Znyth® aqueous zinc battery was designed to overcome
the limitations of conventional lithium-ion technology. Safe,
scalable, efficient, sustainable — and manufactured in the
U.S. — it's the core of our innovative systems
that today provide utility, industrial, and commercial customers
with a proven, reliable energy storage alternative. Eos was founded
in 2008 and is headquartered in Edison, New Jersey. For more
information about Eos (NASDAQ: EOSE), visit eose.com.
Forward-Looking StatementsThis press release
includes certain statements that may constitute "forward-looking
statements" for purposes of the federal securities laws.
Forward-looking statements include, but are not limited to,
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intends," "may,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements may include, for example, statements about: the future
financial performance of Eos; Eos’s plans for expansion and
acquisitions; and changes in Eos's strategy, future operations,
financial position, estimated revenues, and losses, projected
costs, prospects, plans and objectives of management. These
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing the parties' views as of any
subsequent date, and Eos does not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws. You should not place
undue reliance on these forward-looking statements. As a result of
a number of known and unknown risks and uncertainties, actual
results or performance may be materially different from those
expressed or implied by these forward-looking statements. Some
factors that could cause actual results to differ include, but are
not limited to: (1) the outcome of any legal proceedings that may
be instituted against Eos; (2) the ability to maintain the listing
of Eos’s shares of common stock on NASDAQ; (3) the ability of Eos’s
business to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (4) changes in applicable laws or
regulations; (5) the possibility that Eos may be adversely affected
by other economic, business, and/or competitive factors; and (6)
other risks and uncertainties indicated from time to time in the
Prospectus included as part of the Registration Statement on Form
S-1 filed by Eos with the Securities and Exchange Commission
(“SEC”) on December 10, 2020, Registration No.333-251243, including
those under the heading "Risk Factors" therein, and other factors
identified in Eos’s prior and future SEC filings with the SEC,
available at www.sec.gov.
Contacts |
Investors: ir@eose.com |
|
Media: media@eose.com |
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