Eos Energy Storage Secures Strategic Investment from and Manufacturing Partnership with Holtec International
Eos Previews Plans for Manufacturing Automation and Launch of its Gen2 Battery Solution at Solar Power International
EDISON, New Jersey, September 24, 2018 - Eos Energy Storage ("Eos") - pioneer of the value enhancing Znyth® battery - today announced a strategic investment from and manufacturing partnership with Holtec International ("Holtec"). Under the partnership, Holtec has acquired a significant equity stake in Eos. The partnership will support commercialization of the Gen2 Eos Aurora® DC battery system and help to establish an automated manufacturing facility in the United States. Together, Eos and Holtec will deliver and support cost-competitive energy storage solutions that enable dispatchable solar or wind, increase utilization of grid infrastructure, and improve resiliency for commercial/industrial and utility customers.
Holtec, a global supplier of turnkey equipment and services to the nuclear power industry, will establish a subsidiary called HI-POWER to build and operate manufacturing capacity in the U.S., with plans to grow internationally. "HI-POWER hopes to build its first plant in Camden, NJ to fulfill a rapidly growing global demand for energy storage using Eos's innovative technology," said Dr. Kris Singh, Holtec's President & CEO.
Eos' first-of-its-kind manufacturing process entails rapid deployment of highly automated, localized production lines which can be easily replicated in markets across the world. Each line is capable of producing up to 400MWh/yr of the Gen2 Eos Aurora product with improved product quality, cost and reliability. Key product features include:
• Pre-integrated, single-drop enclosure that reduces on installation time, field work, and onsite cabling requirements
• Expanded scope including newly-integrated thermal management, DC disconnect and auxiliary power capabilities for outdoor-rated, plug-and-play deployment
• Enhanced serviceability with added DC control cabinet, allowing for more streamlined module replacement and more competitive long-term warranties
"We are thrilled to preview our Gen2 solution and distributed manufacturing capability at Solar Power International given that our product is optimally suited for solar + storage applications," said Philippe Bouchard, Senior Vice President of Business Development and Marketing at Eos.
SPI attendees can visit the Eos team at Booth #3368 to learn more about Holtec's new partnership with Eos and see the product first hand.
About Eos Energy Storage
Eos' mission is to deliver energy storage solutions that make clean, safe, reliable electricity affordable and accessible to all. Through innovation in batteries, Eos is powering a new dawn of energy storage and a sustainable energy future. Eos manufactures and supplies the Eos Aurora Gen 2®, the industry's lowest cost and highest performance DC battery system designed to optimize grid infrastructure, enhance reliability, and to reduce costs associated with peak demand. Eos is located in Edison, New Jersey, and New York City. For more information, please visit www.eosenergystorage.com.
About Holtec International:
Holtec International is a privately held energy technology company with operation centers in Florida, New Jersey, Ohio and Pennsylvania in the US, and globally in Brazil, Dubai, India, South Africa, Spain, UK and Ukraine. Holtec's principal business concentration is in the nuclear power industry. Holtec has played a preeminent role since the 1980s by densifying wet storage in nuclear plants' spent fuel pools deferring the need for and expense of alternative measures by as much as two decades at over 110 reactor units in the US and abroad. Dry storage and transport of nuclear fuel is another area in which Holtec is recognized as the foremost innovator and industry leader with a dominant market share and an active market presence in eighteen countries. Among the Company's pioneering endeavors are the world's first below-ground Consolidated Interim Storage Facility being developed in New Mexico and a 160-Megawatt walk away safe small modular reactor, SMR-160. The SMR-160 is developed to bring cost competitive carbon-free energy to all corners of the earth including water-challenged regions. Holtec is also a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment such as air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. Virtually all products produced by the Company are built in its three large manufacturing plants in the US and one in India. Nearly 100 US and international patents protect the Company's intellectual property from predation by its global competitors and lend predictable stability to its business base. To learn more about Holtec International, visit: www.holtecinternational.com.
Antenna Group for Eos Energy Storage