Eos Energy Enterprises said Tuesday it expected to have its state-of-the-art manufacturing line at its Turtle Creek plant ready by the end of the second quarter.
The production line is key to the making of Eos' next-generation batteries, called Z3, as well as its scalability and dramatic expansion of battery manufacturing in the Mon Valley called Project AMAZE. The Z3 battery began being produced for energy storage systems in 2023 through its current semi-automated production line. But Eos (Nasdaq: EOSE) announced Tuesday the timeline and boosting its annual manufacturing capacity to about 1.25 gigawatt hours.
"Achieving this milestone is critical to reducing overhead and indirect labor costs," Eos said in a statement.
There have already been 110 Z3 battery cubes that have been manufactured and shipped since September 2023 to five separate customers but, the company said, automating the line will be a step change. It's working with ACRO Automation on the automated design.
Eos also said it was working to finalize a loan with the U.S. Department of Energy Loans Program Office on the Project AMAZE-related $500 million loan. Eos, which is based in New Jersey, has most of its operations in the Pittsburgh region and its Turtle Creek plant. It had about $6.6 million in revenue in the first quarter. It also recently announced an expansion of its contract with Pine Gate Renewables.
