Eos plans international expansion next year

Eos Energy Storage talks about its future business plans – which include global expansion for the grid-scale Eos Aurora battery. Photo credit: Ideal Power

Eos Energy Storage talks about its future business plans – which include global expansion for the grid-scale Eos Aurora battery system. Photo credit: Ideal Power

By Jason Deign

Eos Energy Storage, the New York, US, grid-scale battery manufacturer, is planning to expand internationally in the second half of 2016.

Philippe Bouchard, vice president of business development, told Energy Storage Report the company was looking at opportunities in Australia, India and South Africa. “You could also add Europe to that list,” he said.

The news follows two additions to the Eos executive team in July, when former Aquion Energy man Donald Humphreys joined as vice president of manufacturing and Jim Morgenson, ex of SMA, took over sales.

At the same time, the company confirmed it had taken more than 8GWh of qualified pre-orders for its Aurora 1000/4000 containerised 1 MW DC battery system, which it says will sell for USD$160/kWh ‘in volume’.
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OCI joins solar rush to buy into storage

OCI joins the solar rush to buy into storage with an investment in Eos Energy Storage and its Aurora battery system, in a financing round led by AltEnergy. Photo credit: OCI Solar Power

OCI joins the solar rush to buy into storage with an investment in Eos Energy Storage and its Aurora battery system, in a financing round led by AltEnergy. Photo: OCI Solar Power

By Jason Deign

OCI has become the latest solar company to buy into storage after making a strategic investment in Eos Energy Storage last month.

The Korean green energy and chemicals giant joined backers led by the investment firm AltEnergy in pumping USD$23m into Eos, which is commercialising a 1MW, 4MWh containerised battery system called Aurora.

Other investors in the round C equity financing included NRG Energy and Fisher Brothers, both of which are existing investors in Eos.

“OCI, with a revenue of $2.2bn, produces and markets inorganic chemicals, fine chemicals, petrochemicals and insulation chemicals, and is one of the largest global producers of solar-grade silicon,” said adviser Apricum in a press note.

“OCI’s strategic investment in Eos represents further expansion into the renewable energy industry, building on its current production of polysilicon and solar cells, as well as the development of solar power projects.”
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Could energy storage be onto a winner in France?

We analyse recent market developments in energy storage in France – from Total buying into Aquion Energy, GDF Suez testing Eos Energy Storage batteries to start-ups such as Nawa Technologies. Photo credit: McPhy Energy

We analyse recent market developments in energy storage in France – from Total buying into Aquion Energy, GDF Suez testing Eos Energy Storage batteries to start-ups such as Nawa Technologies. Photo credit: McPhy Energy

It has been a mixed bag for energy storage in France recently. Three weeks ago came the news of faltering finances at Areva, one of France’s biggest power sector companies and a potentially significant energy storage player.The future of Areva’s energy storage programme is as yet still unclear and might not be known until a new strategic plan is unveiled in February.

Almost simultaneously with the Areva bombshell, however, another big French energy player, GDF Suezannounced it would be testing battery systems from Eos Energy Storage, a promising US developer. So what is to be made of the fickle French market?
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Eos Energy Storage raises $15 million

Eos Energy Storage grid-scale energy storage

Pic courtesy of Eos Energy Storage

Eos Energy Storage has announced the completion of its USD$15 million Series B financing round with participation from a syndicate of 21 strategic and financial investors. The round supports Eos’s commercialisation of its safe, low-cost and long-lasting grid-scale battery technology.

Eos’s Aurora grid-scale energy storage product has been specifically engineered to help utilities operate more efficiently and create savings for consumers by time-shifting peak energy demand while providing greater resilience to the electricity grid. Eos will begin deploying the Aurora in 2014. The company is in advanced discussions with several US states regarding the location of its pilot manufacturing facilities.

Two high-profile investors in this round are Princeton, New Jersey-based NRG Energy and Fisher Brothers. Eos is NRG’s first investment in the energy storage industry. Fisher Brothers is a privately owned New York City-based real estate firm which owns Plaza Construction, a contractor with experience building urban power plants and renewable energy projects.

Fisher Brothers is also a co-sponsor, with Morgan Stanley, of the City Investment Fund, a founding member of Perella Weinberg Partners and a founding partner of Convergent Energy + Power, an energy storage asset development company.