Eos Energy raises $263M in equity, surpassing $250M target to fund long-duration energy storage projects.

Eos Energy Enterprises completed a rights offering and secured investments from Hudson Bay Capital and Cerberus Capital, raising approximately $263 million in equity, exceeding their $250 million target. This funding will support Frontier Power USA, a joint venture focused on developing and operating long-duration energy storage projects using Eos's zinc-based technology. With about 16 GWh of project pipeline and nearly 1.8 GWh under construction or close to starting, the capital raised, combined with project debt, is expected to enable over $1 billion in project deployment. The initial capitalization is set to close in early August, positioning Eos for growth in the energy storage market.