DOE Announces $303.5 Million Loan Guarantee to Eos Energy for Advanced Battery Manufacturing

The US Department of Energy (DOE) as part of the Biden-Harris Administration’s Invest in America initiative, has officially granted a $303.5 million loan guarantee to Eos Energy Enterprises, Inc.  The loan includes $277.5 million in principal and $26 million in capitalized interest and aims to produce next-generation zinc-bromine battery energy storage systems (BESS). The project will significantly advance the nation’s energy storage capabilities, create thousands of jobs, and drive regional economic growth.

The new production lines will manufacture Eos Z3™ batteries for large-scale grid storage. These batteries allow utilities and industries to store energy during low demand and use it during peak periods, stabilising the grid. Once operational, the four Turtle Creek and Duquesne production lines will produce 8 GWh of storage annually by 2027. This capacity will power over 300,000 homes instantly or meet the annual electricity needs of 130,000 homes daily.