Eos Energy Storage Raises $15 Million of Planned $25 Million Round

Eos Energy Storage, LLC - New York, NY

January 14, 2015

Eos Energy Storage has raised $15 million of a planned $25 million in funding to scale up manufacturing of its hybrid zinc cathode, aqueous electrolyte-based battery that could break the price barrier for grid-scale, multi-hour energy storage. The New York-based startup expects to raise $15 million from a private placement with previous investor AltEnergy, and an additional $10 million with accredited investors. Eos has previously raised about $27 million in two funding rounds. The new investment will help Eos scale manufacturing of its Aurora batteries, which promise 75% round-trip efficiency, along with a 10,000-cycle, or 30-year, lifetime, at a projected price point of $160 per kWh.

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