Battery maker Eos says 2022 revenue meets guidance

• United States zinc-based batteries supplier Eos Energy Enterprises Inc (NASDAQ: EOSE) last week said it anticipates to report yearly revenues constant with its previous guidance, while additionally making a forecast for 2023, and introducing a new agreement that expands its pipe.

More specifically, the company revealed it has actually gotten an order for a 47-MWh first renewables-plus-storage project from an unnamed customer described as "among the biggest drivers of energy storage in the US." In addition, it has actually entered into a letter of intent outlining a framework agreement for as much as 4 GWh of energy storage space to be offered over the next 6 years.

For 2022, Eos expects publishing record revenue of in between USD 17 million (EUR 15.8 m) and USD 20 million, along with a cash equilibrium, omitting restricted cash, of USD 17 million as of December 31, 2022.

For this year, Eos anticipates producing USD 30 million-50 million in revenue. The company is preparing to release an automatic assembly line for its next-generation Z3 batteries in the 3rd quarter of the year. It anticipates the gross margins of those products to be better than the present Gen 2.3 version, which, consequently, ought to bring about favorable operating cash flow in the 2nd half of 2024.

Eos has set up the launch of its full-year and also fourth-quarter monetary results for early March.

"With application of the 2022 Inflation Reduction Act taking place this year, we visualize continued market growth. We remain to advance through the Department of Energy Loan Programs Office's due persistance process, as well as we expect that our loan amount could be a minimum of USD 250 million, if effectively approved," commented chief executive officer Joe Mastrangelo.

On February 1, the company additionally issued and marketed an exchangeable cosigned promissory note worth USD 5 million in a personal placement to an affiliate of Yorkville Advisors.