Eos Energy Enterprises announced two significant developments. On December 19, 2024, the company received its initial funding of $68.3M from the Federal Financing Bank under a DOE-guaranteed loan agreement. The total loan facility provides for up to $277.5M in principal amount and $26M in capitalized interest.David Urban, Managing Director of BGR Group and a prominent Republican advisor, joined Eos's Board of Directors effective December 16, 2024. Urban brings extensive experience in government relations and strategic communications, currently serving on multiple corporate boards including Virtu Financial and SubCom. As compensation, he will receive an initial RSU grant valued at $150,000, an annual cash retainer of $25,000, and annual equity-based retainers.The appointments and funding mark strategic steps in Eos's expansion of its zinc-based long duration energy storage systems manufacturing in the United States. Urban's expertise is expected to strengthen the company's position in navigating political and regulatory environments while advancing its made-in-America energy storage initiatives.

Eos Energy Enterprises announced two significant developments. On December 19, 2024, the company received its initial funding of $68.3M from the Federal Financing Bank under a DOE-guaranteed loan agreement. The total loan facility provides for up to $277.5M in principal amount and $26M in capitalized interest.David Urban, Managing Director of BGR Group and a prominent Republican advisor, joined Eos's Board of Directors effective December 16, 2024. Urban brings extensive experience in government relations and strategic communications, currently serving on multiple corporate boards including Virtu Financial and SubCom. As compensation, he will receive an initial RSU grant valued at $150,000, an annual cash retainer of $25,000, and annual equity-based retainers.The appointments and funding mark strategic steps in Eos's expansion of its zinc-based long duration energy storage systems manufacturing in the United States. Urban's expertise is expected to strengthen the company's position in navigating political and regulatory environments while advancing its made-in-America energy storage initiatives.