Eos Energy Enters $25M Equipment Financing Agreement With Trinity Capital

Eos Energy Enters $25M Equipment Financing Agreement With Trinity Capital
  • Eos Energy Enterprises Inc EOSE subsidiary HI-POWER LLC has entered into a $25 million equipment financing agreement with Trinity Capital Inc TRIN.
  • The company plans to use funds to acquire equipment to expand the production of its proprietary aqueous Znyth batteries.
  • Located near more than 80% of Eos's suppliers, the Pittsburgh, Pennsylvania-based manufacturing facility produces long duration (3-12 hour) energy storage solutions.
  • "Securing this equipment financing is a key milestone in our ability to expand our manufacturing capacity and effectively balance our capital allocation strategy," commented CFO Sagar Kurada.
  • Eos Energy had cash and cash equivalents of $75 million as of June 30, 2021.
  • Price Action: EOSE shares are trading lower by 2.09% at $13.13, while TRIN is down by 1.90% at $15.98 on the last check Tuesday.

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