Eos Energy Enters $25M Equipment Financing Agreement With Trinity Capital
- Eos Energy Enterprises Inc (NASDAQ: EOSE) subsidiary HI-POWER LLC has entered into a $25 million equipment financing agreement with Trinity Capital Inc (NASDAQ: TRIN).
- The company plans to use funds to acquire equipment to expand the production of its proprietary aqueous Znyth batteries.
- Located near more than 80% of Eos's suppliers, the Pittsburgh, Pennsylvania-based manufacturing facility produces long duration (3-12 hour) energy storage solutions.
- "Securing this equipment financing is a key milestone in our ability to expand our manufacturing capacity and effectively balance our capital allocation strategy," commented CFO Sagar Kurada.
- Eos Energy had cash and cash equivalents of $75 million as of June 30, 2021.
- Price Action: EOSE shares are trading lower by 2.09% at $13.13, while TRIN is down by 1.90% at $15.98 on the last check Tuesday.
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