Eos Energy Enterprises Inc. announced an additional $125 million worth of investments for Frontier Power USA, which is expected to launch as an independent venture.
The company is in the process of moving its headquarters from New Jersey to Pittsburgh, a move it announced late last year. Months after that announcement, Eos took a $100 million investment from Cerberus Capital Management LP to launch an independent company, Frontier Power USA. Now, Eos has secured a $75 million equity investment from Hudson Bay Capital Management, and a commitment of $50 million for direct investment in Frontier Power USA.
Eos (Nasdaq: EOSE) is a leader in a growing field of long-duration energy storage, which is assembled at plants in Turtle Creek and Marshall Township, while Frontier Power USA was established to build, own and operate as an independent power producer focused on long-duration energy storage projects using Eos’s technology.
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