The U.S. Department of Energy’s Office of Energy Dominance Financing recently issued Pittsburgh-based Eos Energy Enterprises, a zinc-based long-duration energy storage systems company, with a $87 million first advance under the second tranche of its loan agreement.
Since 2024, Eos has drawn approximately $178 million. The advance will reimburse 80 percent of eligible costs associated with the company’s Thorn Hill manufacturing facility in Warrendale. The company added a second commercial production line in June that eventually will have a manufacturing capacity of approximately two gigawatt hours annually.
“Loan funding from the Office of Energy Dominance Financing has been critical in scaling Eos,” Alessandro Lagi, Eos chief financial officer, said. “This advance reimburses a significant portion of the investment we have already made in line two and returns that capital to the balance sheet, giving us more room to invest in the business while maintaining a disciplined approach to growth.”
Line one will relocate to Thorn Hill, subject to lender approvals, and will give the facility approximately four gigawatt hours of annual manufacturing capacity across the two lines.
“Running two lines under one roof drives more efficient use of our engineering, support resources, and labor,” John Mahaz, Eos chief operating officer, said.