Eos battery systems accompanied by price-cap guarantee
NEW YORK--(BUSINESS WIRE)--Eos Energy Storage ("Eos"), pioneer of the safe, ultra-low cost Znyth® battery, today announced forward pricing for the company's Eos Aurora DC Battery System. The company is taking orders today for volume purchases at a price of $160 per usable kWh for shipment in 2017 and $95 per usable kWh for shipment in 2022.
Eos is the first company to accept orders below $100 per usable kWh for a complete DC battery system including battery modules, battery management system, and outdoor-rated enclosure. Eos' price-cap guarantee ensures that future purchases will receive the lower of the contracted price or any future price for an equivalent volume purchased the same year. The company is also offering up to 20-year performance guarantees at additional cost to optimize capacity under a wide range of applications and use cases.
"These price points correspond to a levelized cost of energy of approximately $50-60 per MWh for storage, roughly 30% lower than the lowest projected cost for any competing storage system," says Jim Hughes, Eos Chairman of the Board. "With these economics, Eos will become the default solution for new peaking capacity and will enable a dispatchable renewable energy product that outcompetes conventional power generation."
Built on standardized 250kW/1MWh DC building blocks, the Eos Aurora is a best-fit utility-grade solution for multi-hour, high-throughput applications such as locational capacity, peak shaving, and renewable integration. The Eos Aurora integrates the company's proprietary zinc hybrid cathode Znyth battery into an outdoor-rated, plug-and-play Energy Stack™ which enables rapid installation and reduces cost throughout the project lifecycle.
As a DC system supplier, Eos partners with major integrators through its Aegis™ program to deliver and install turnkey energy storage solutions. Aegis partners provide power conversion and controls, grid connection, and installation services as well as maintenance and warranty administration over the life of the project. Eos recently announced partnerships with Siemens and Northern Power Systems to deliver fully-integrated energy storage solutions, and is building out its Aegis program to offer and support deployments in markets around the world.
"In a world of rapidly declining cost, Eos is able to maintain its leadership position through technology advantage and rigorous focus on total cost of ownership for the customer," says Eos CEO Michael Oster. "From the bill of materials to the manufacturing process and simplified installation strategy, Eos is taking a fundamentally different approach—one that gives us a significant and sustainable cost advantage over lithium ion while delivering a battery that is inherently safer, longer life, lower maintenance, and more tolerant of extreme operating conditions."
The Eos Aurora has no moving parts and employs widely available materials and highly commoditized manufacturing equipment and processes. Eos' recently announced manufacturing and assembly partnership with NY-based Environment One Corporation (E/One), an operating company of Precision Castparts Corporation (PCC) which is a wholly owned subsidiary of Berkshire Hathaway Inc (NYSE:BRK.A), emphasizes the scalability and capital efficiency of the manufacturing process. Eos and E/One are moving production to a dedicated facility in upstate New York, creating 80 high-tech jobs as the companies reach a production rate of 400MWh per year in 2017.
Please visit Eos' online Cost Calculator for a user-friendly tool to calculate DC system pricing and reach out to email@example.com to request Eos' Levelized Cost of Energy Calculator.
About Eos Energy Storage
Eos' mission is to deliver energy storage solutions that enable safe, reliable, and affordable electricity for utilities and their customers. Eos produces a long-life, inherently safe, and easy-to-install DC battery system designed for grid-connected as well as commercial and industrial markets. The Eos Aurora® is the lowest cost and highest performance energy storage system designed to optimize grid infrastructure, enhance reliability, and control energy costs. Eos is located in Edison, NJ, and New York, NY; For more information, please visit www.eosenergystorage.com.