- Order received to deliver 1.1 GWh of its product over the coming years.
An Edison, the New Jersey-based manufacturer of zinc-based energy storage systems, Eos Energy Enterprises Inc, has revealed that it had received an order to deliver 1.1 GWh of its product over the coming years. The company stated that the orders were received from Bridgelink Commodities LLC and another unnamed Northeast solar developer.
There has been an increment by Bridgelink of its multi-year master supply agreement to 1 GWh, and this is to be supplied over the next three years. Based on the initial agreement, as revealed earlier this year, Bridgelink committed to purchasing 240 MWh with an option to increase it to 500 MWh. According to Eos, the increased deal represents an incremental order value of USD 181 million for new project deployments. Eos will further make a separate delivery of a 40 MWh order worth USD 13 million in the last quarter of 2022. Bridgelink is bringing Eos’ US-made technology to the ERCOT market in Texas
Additionally, Eos signed a master supply agreement with other customers to deliver 300 MWh. These systems, expected to be delivered over the next three years, will be used for front-of-the-metre stand-alone and solar plus storage applications.
“Over the past six months, our opportunity pipeline increased to more than 20 GWh, and we are excited to start seeing those opportunities convert into orders,” said Eos chief executive Joe Mastrangelo. “These orders fit perfectly with our ongoing manufacturing capacity expansion, which we began late last year,” Mastrangelo added.
The battery manufacturer has doubled its backlog to more than USD 460 million and is on track to exceed USD 400 million of new net orders in the current year.