Zinc battery player Eos completed 2021 with US$ 150m backlog and US$ 124m net loss

• Zinc battery energy storage space system carrier Eos Energy Enterprises ended up 2021 with an order backlog of US$ 148.7 million as well as a net loss for the year of US$ 124.2 million.

The firm reserved income of US$ 4.6 million for the year as well as expects that to expand ten-fold to US$ 50 million in 2022, just from its existing orders backlog, nearly a quarter of which it claims is future repeating services earnings. It reckons it will certainly get to profitability by H2 2023.

Its total prices over 2021 were US$ 139.3 million as well as it finished the year with US$ 105.7 million in cash or cash equivalents. The business declares a chance pipeline of US$ 4 billion and also intends to capitalise on 10% of that, in brand-new orders, this year.

Eos Energy is just one of those expanding US-based battery manufacturing capacity. It will invest US$ 25 million in increasing its Turtle Creek producing center in Pittsburgh, Pennsylvania, to 800MWh. Production first time return is approaching 90%, it included.

The Department of Energy recently invited the company to get a financing to support the development of the facility. Some US$ 10 billion of financings remain in process for battery manufacturing projects in the US, the DoE claims.

The company is one of numerous long-duration energy storage space providers to have actually provided in the United States at a reasonably very early storage space of commercialisation, going public using a SPAC merging in November 2020 shortly after it struck long-lasting agreements to supply 1.5 GW of its battery systems in the US. It has actually also obtained orders from India.

Its market cap sits at US$ 211 million at the time of composing, with an enterprise worth around US$ 220 million.

Eos Energy Enterprises' technology

The firm's batteries have a duration of as much as 3 hrs however can be piled to develop as much as 12 hours of discharge potential.

Eos Energy's technology uses a zinc-halide oxidation/reduction cycle packaged in a sealed, flooded, bipolar battery. It says the battery technology provides a secure, scalable, fully recyclable as well as lasting choice to lithium-ion and also requires simply 5 core commodity products "derived from non-rare earth and non-conflict minerals that are perfectly offered as well as fully recyclable". The battery is non-flammable.

The firm states its storage system's use cases consist of peak moving as well as need management. It declares its battery use 100% deepness of discharge without boosted deterioration while lithium-ion utilizes has a tendency to require to restrict this to 80-90% due to the influence of accelerating on its degradation rates. It claims its battery's degradation rate at 100% is less than lithium-ion's at 80%.

An additional advantage it asserts is low upkeep as well as minimum auxiliary load, without need for a HVAC or fire suppression system implying lower expenses. Various other uses cases are incorporating solar as well as wind generation and also giving supplementary services to the grid.