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The Department of Energy has finalized a $303.5 million loan guarantee to Eos Energy Enterprises, a manufacturer of at-scale zinc-powered batteries (DOE). 
 
What’s going on: As part of the Biden administration’s Investing in America agenda, the DOE’s Loan Programs Office will give $277.5 million in principal and $26 million in capitalized interest to the New Jersey–headquartered company “to finance the construction of two state-of-the-art production lines that will be able to produce enough stationary batteries per year to annual electricity needs of approximately 130,000 homes.”  

•  The sites will manufacture the company’s Z3 zinc-bromide battery energy storage system in Turtle Creek, Pennsylvania. 
• Pending additional approvals and an environmental assessment, two other production sites in the state may be included in the loan guarantee as well.  

Why it’s important: “All four lines of the project are expected to manufacture 8 GWh of storage capacity annually by 2027, or enough to provide electricity to over 300,000 average U.S. homes instantaneously or meet the annual electricity needs of approximately 130,000 homes if fully charged and discharged daily.” 

•  The project is expected to create and sustain up to 1,000 manufacturing and professional jobs, most of them in Turtle Creek.