EOS Energy, a Nasdaq-listed, next-gen, long-duration battery startup, has reported its plans to develop a USD 500 million long-duration stationary energy storage (LDES) project, known as American Made Zinc Energy (AMAZE), in Pennsylvania to manufacture the company's Eos Z3 energy storage systems. This is part of the company's plans to scale its annual production to 8 GWh of storage capacity by 2026 to match the demand for LDES.

The company has secured a USD 398.6 million conditional commitment for a loan guarantee from the Department of Energy Loan Programs Office, which would cover 80% of the facility's construction costs.

Analyst QuickTake: During the same month, EOS entered a supply agreement with ACRO Automation Systems to design, develop, and implement up to four of EOS’ high-output manufacturing lines at the proposed facility. The company is investing in expanding its manufacturing facilities in the US after relocating its production and supply chain away from China in 2018.