Eos Energy Storage announces closing of private placement of approximately USD 23.0 million

The Eos energy storage stack. 4 x 250kW|1MWh subsystems deliver the Aurora 1000│4000 (1MW|4MWh DC system)
The Eos energy storage stack. 4 x 250kW|1MWh subsystems deliver the Aurora 1000│4000 (1MW|4MWh DC system)

Eos Energy Storage (Eos, New York, NY, U.S.), a developer and manufacturer of grid-scale battery systems, on October 18th, 2016 announced that it has completed the initial closing of the sale of preferred units in a private placement transaction resulting in gross proceeds of approximately USD 23.0 million.

The Company expects to use the net proceeds of the private placement for scale-up of contract manufacturing and commercial deployment of the Eos Aurora 1000|4000 DC battery product. The private placement is being managed by a nationally recognized investment bank.

 

2016-10-19 | Courtesy: Eos Energy Storage | solarserver.com © Heindl Server GmbH

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