Eos Energy Executes Next Phase of Growth Strategy with U.S. Manufacturing Expansion and New Software Hub Under Project AMAZE

$24 million state-led economic development package underscores the shared commitment between Eos and Pennsylvania to advance U.S. manufacturing and job creation

Expansion reinforces the Company’s progress and transformation as Pennsylvania becomes a national hub for energy, technology, and manufacturing innovation

PITTSBURGH, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the “Company”), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems (BESS) manufactured in the United States, today announced the next phase of its growth strategy with the expansion of its U.S. manufacturing footprint and the establishment of a new software hub strengthening American energy storage capacity, energy independence, and industrial job growth.

In partnership with Pennsylvania Governor Josh Shapiro and Allegheny County, the Company was awarded a joint $24 million economic development package to support U.S. manufacturing and the continued growth of 1,000 high quality American jobs. The incentive package will help the Company scale operations to meet growing market demand driven, in part, by AI infrastructure, while advancing energy innovation in Pennsylvania.

“Energy storage is the backbone of a modern energy system, and this significant milestone marks our progress to bring America’s battery to scale,” said Joe Mastrangelo, Eos Chief Executive Officer. “Through Project AMAZE, we’re proving that you can make things in America again by building world-class capacity, pairing advanced manufacturing with innovative software, and doing it here in Pennsylvania to ensure a more energy-efficient and secure future. We thank Governor Shapiro, Allegheny County, the Allegheny Conference on Community Development, and the Pittsburgh Technology Council for their unwavering support and shared vision for advancing Americas quest to lead in energy.”

Eos will expand its manufacturing capacity with a new state-of-the-art 432,000 sq. ft. facility in Marshall Township, PA, that will house additional production lines that complement the Company’s existing Turtle Creek manufacturing facility with plans to reach 8 GWh of annualized energy storage capacity. The new facility enables Eos to transition from single piece flow operations to high-efficiency, large-scale production, marking the culmination of years of process development designed to bring U.S. made energy storage to market at scale.

“The demand for energy is going up — and my Administration is capitalizing on Pennsylvania’s strengths as a national energy leader and net energy exporter to attract leading energy manufacturers like Eos Energy to the Commonwealth,” said Governor Shapiro. “We’re doubling down on our efforts to aggressively compete for — and win — major projects like this one by cutting red tape, building out our skilled workforce, and investing in the next generation of energy technology. I’m proud that Pennsylvania will be home to Eos’ new global headquarters — and my Administration will continue to work to cut energy costs, create good-paying jobs, and position the Commonwealth to continue to be a national energy leader for decades to come.”

Eos will also establish a new software hub at Nova Place, Pittsburgh’s premiere technology and innovation center, that supports the Company’s growing workforce and proprietary battery management system, software, controls and analytics platform, DawnOS^TM. Eos joins a thriving community of other advanced manufacturing, data/telecommunications, AI, electric utilities, and robotics leaders in Pittsburgh’s innovation headquarters.

As part of its expanding software and engineering focus, the Company plans to deepen its partnership with Carnegie Mellon University, a leading institution in robotics, AI, computer science, and engineering to further develop a state-of-the-art workforce to work in Eos’ software hub.

“Carnegie Mellon University is thrilled to celebrate this milestone with Eos, and we are looking forward to the many opportunities it unlocks – for Pittsburghers, our students, and America’s bright future in manufacturing,” said CMU President Farnam Jahanian. “On behalf of the CMU community, I extend my sincere congratulations to Pennsylvania Governor Josh Shapiro and Eos CEO Joe Mastrangelo and their teams for leading the way in strengthening Western Pennsylvania’s roles as an innovation engine for the nation and as a driver of the talent that will power it.”

“Pennsylvania has an extensive history of being at the forefront of innovation. We’re proving that in Pittsburgh you can not only build products in America but also offer world class education and intellectual capabilities to grow emerging industries,” said Pranesh Rao, Eos Senior Vice President of Storage System Engineering. “Building our software hub in Pittsburgh—surrounded by talented workers and a fast-growing innovation ecosystem—is both a strategic move and a catalyst to propel Eos to the next level.”

About Eos Energy Enterprises

Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional lithium-ion technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours) and provides customers with significant operational flexibility to cost effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward Looking Statements

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.

The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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