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Eos Energy Announces Second Funding Under Its Department of Energy Loan Guarantee to Fuel U.S. Battery Manufacturing Capacity Expansion

Core Viewpoint - Eos Energy Enterprises, Inc. has received a second loan advance of $22.7 million from the Department of Energy, completing the maximum allowable amount under the first tranche of $90.9 million, aimed at expanding its manufacturing capabilities for zinc-based battery energy storage systems [1][2][5] Group 1: Financial Developments - The loan advance covers 80% of eligible costs related to the Company's production expansion plans for Project AMAZE, supporting efforts to meet growing customer demand [2] - Eos has successfully closed $336 million in concurrent offerings of common stock and convertible senior notes, which has restructured the Company's balance sheet and lowered its cost of capital [5] Group 2: Production and Capacity Expansion - Production volumes at Eos' first manufacturing line are increasing weekly, with a target capacity of 2 GWh [3] - The Company has submitted a purchase order for its second manufacturing line, which is a significant step in expanding U.S. production [4] Group 3: Strategic Objectives - Eos aims to scale operations to meet the rising demand for energy storage solutions, particularly in AI-driven load growth and data centers [3] - The Company is focused on building a robust domestic supply chain and creating high-quality American jobs through its manufacturing initiatives [5][6]