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Stock impact report

Eos Energy secures $300 million loan for Turtle Creek battery factory [CBS News]

Eos Energy Enterprises, Inc. (EOSE) 
Company Research Source: CBS News
Sen. Bob Casey (D-Pa.) on Tuesday announced the $303.5 million loan guarantee to Eos Energy Enterprises to build and produce battery systems. The U.S. Department of Energy guaranteed the loan. The project is expected to create up to 1,000 salaried and manufacturing jobs, unionized through the United Steelworkers, according to a media release from Sen. Casey's office. "Thanks to the Inflation Reduction Act, we are making game-changing investments in energy technology manufacturing to ensure that Pennsylvania can continue to power our Nation," said Senator Casey. "I fought for this investment because it will create union jobs and help Mon Valley workers lead the way on clean energy storage production. This project is not only an investment in the technology of tomorrow but in Pennsylvania workers." The loan will finance the construction of two production lines that will produce enough zinc-bromide batteries to meet the annual electricity needs of approximately 130,000 homes. "F Show less Read more
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