If you need to know about batteries; you’ve come to the right place Chinese flag 点击这里访问我们的中文网站 Chinese flag

Eos aims to drive development of its Zinc ESS technology with LOI

Wed, 07/01/2020 - 10:36 -- Paul Crompton

Privately held zinc battery developer Eos Energy Storage signed a letter of intent (LOI) on 24 June with the goal of opening a $225 million finance opportunity by becoming a publicly listed company.

The proposed transaction would provide Eos with $225 million of additional new equity financing, including $50 million of proceeds from a fully backstopped PIPE by B. Riley Financial, assuming no public shareholders of BRPM exercise their redemption rights at closing.

The full story is only available in our FREE weekly industry newsletter, so sign-up to get it delivered to your inbox every Monday.