en.Wedoany.com Reported - On July 3, U.S. zinc-based battery company Eos Energy Enterprises is advancing financing arrangements for its long-duration energy storage platform. Hudson Bay Capital Management will invest $75 million in Eos and has committed to investing $50 million in Frontier Power USA upon meeting conditions. The energy storage platform, jointly established by Eos and Cerberus Capital Management, is used to develop long-duration energy storage projects in the United States. Frontier Power USA primarily utilizes Eos's Z3 zinc-based batteries to serve the deployment of long-duration energy storage projects in the U.S.

Frontier Power USA primarily utilizes Eos's Z3 zinc-based batteries to serve the deployment of long-duration energy storage projects in the U.S. Cerberus has previously committed $100 million, and Eos plans to invest up to $150 million. If all related financing and subscription arrangements are completed, the platform is expected to have an equity capital base of approximately $375 million, supporting over $1.5 billion in project deployment under a roughly 75% loan-to-value model.

Frontier Power USA currently has a 2 GWh capacity reservation agreement with Eos and has formed its first purchase order corresponding to the 100 MW/400 MWh Redbird energy storage project in the ERCOT market of Texas, U.S. The energy storage platform also has a development pipeline of approximately 16 GWh for long-duration energy storage in the U.S. Following the advancement of financing, the focus will shift to project contracting, equipment delivery, energy storage system construction, and grid connection arrangements.