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Greater Pittsburgh Chamber of Commerce
12/03/2024 | Press release | Distributed by Public on 12/04/2024 09:15
Statement on today’s Eos Energy announcement regarding Project AMAZE
Earlier today, the United States Department of Energy (DOE) announced the successful closure of a $303.5 million loan guarantee to Eos Energy Enterprises (Eos Energy). Eos Energy is a leading provider of safe, scalable, and sustainable zinc-based battery storage systems with facilities in Turtle Creek, PA. Its Project AMAZE - American Made Zinc Energy - is an expansion program designed to scale annual production to 8 GWh storage capacity by 2027 to meet the increasing demand for long-duration energy storage. Read the official news release for more information.
Media Contact: Josie Schultz, [email protected]
The Allegheny Conference on Community Development offers the following perspective on this announcement, which will drive growth and investment in the southwestern Pennsylvania region.
"Congratulations to Eos Energy Chief Executive Officer Joe Mastrangelo and his team on reaching a pivotal milestone on their pathway to growth, expansion, innovation, and integral support of the shifting global energy landscape," said Stefani Pashman, CEO of the Allegheny Conference on Community Development.
"From the DOE's first announcement of a conditional commitment for a loan guarantee, which placed a stamp of approval on Eos's technology in August 2023 - to 2024 announcements introducing automated lines and a $315.5 million strategic investment, cementing a partnership between Eos and Cerberus Capital Management LP - Eos continues to forge ahead with their growth plans.
"With each step, we've been honored to work closely with the Eos team, and through continued partnership, we envision a bright future for the company in the Mon Valley and beyond. With a rich legacy in strategic sectors, the Pittsburgh region sits at the convergence of energy and advanced manufacturing, providing opportunities for industries to evolve and grow, meeting the ever-changing needs as new frontiers in energy arise.
"On the heels of recent project wins like Mainspring Energy's creation of a linear generator manufacturing facility and expansion announcements by Mitsubishi Electric Power Products, Inc., and Powerex, it is evident that southwestern Pennsylvania is a hub for growth industries.
"We wish Eos Energy continued success and growth in the region and look forward to what lies ahead."
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Media Contact: Josie Schultz, [email protected]
Greater Pittsburgh Chamber of Commerce published this content on December 03, 2024, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 04, 2024 at 15:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]