Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the
“Company”), a leading provider of safe, scalable, efficient, and
sustainable zinc-based long duration energy storage
systems, today expanded its partnership with TETRA
Technologies, Inc. (NYSE: TTI) a leading global energy services and
solutions company, designating TETRA as the preferred strategic
supplier of electrolyte products for Eos’s new, American made, Eos
Z3™ long duration energy storage cube. TETRA is expected to supply
a minimum of 75% of the total electrolyte product demand going
forward.
“TETRA is a proven global fluid solution provider, and the Eos
strategy has centered around finding raw materials being used in
other industries to provide both scale and cost efficiencies,” said
Joe Mastrangelo, CEO of Eos. “As we scale, we need supply chain
partners that can help us achieve growth, reduce cost, and improve
overall performance of our battery. This partnership achieves that
while we continue to develop a U.S. supply chain.”
The expected demand growth for Long Duration Energy Storage
requires increased volume at scale, and with TETRA’s
investment in expanded bromine production, Eos is better positioned
to achieve the scale necessary over the next several years, while
reducing cost per battery and improving overall quality and
performance.
Key to the operational success of the Eos Z3™ cube is high
purity zinc-bromide, which is part of Eos’ patented electrolyte
system. TETRA’s U.S. based patented manufacturing process produces
some of the highest purity levels of zinc-bromide (PureFlow®)
globally. The electrolyte solution is one of the largest cost
components of the Eos Z3 cube and this agreement supports progress
on the Company’s path to profitability. The two companies have been
working together since 2021 to improve the quality of the
electrolyte solution.
“We have been working closely and collaboratively with Eos for
years as they transition to their new Z3 technology, and in that
time have evolved from only supplying zinc-bromide PureFlow® to now
offering the full electrolyte solution,” said Brady Murphy,
President and CEO of TETRA Technologies Inc. “This relationship
dovetails nicely with our bromine production plans, and we are
excited to be part of Eos’s future plans and Inflation Reduction
Act objectives.”
This four-year agreement is an expansion of an existing
partnership between the two companies that began in 2021 and
includes provisions that allow for extending the agreement beyond
the initial four-year term. Eos and TETRA officials indicate that
the agreement includes favorable pricing and cost savings
allocation methodologies that motivate both parties to actively
pursue further cost reductions.
About Eos Energy EnterprisesEos Energy
Enterprises is a leading provider of safe, scalable, and
sustainable zinc-based battery storage systems. With a mission to
deliver energy storage solutions that are efficient, reliable, and
environmentally friendly, Eos is at the forefront of
revolutionizing the global energy storage landscape. Eos’
pioneering technology offers a cost-effective and scalable
alternative to other stationary storage systems, enabling a clean
energy future with improved grid reliability and resilience.
About TETRA Technologies, Inc.TETRA
Technologies, Inc. is an energy services and solutions company
operating on six continents with a focus on bromine-based
completion fluids, calcium chloride, water management solutions,
frac flowback, and production well testing services. Calcium
chloride is used in the oil and gas, industrial, agricultural,
road, food, and beverage markets. TETRA is evolving its business
model by expanding into the low carbon energy markets with its
chemistry expertise, key mineral acreage, and global
infrastructure. Low carbon energy initiatives include
commercialization of TETRA PureFlow®, an ultra-pure zinc bromide
clear brine fluid for stationary batteries and energy storage;
advancing an innovative carbon capture utilization and storage
technology with CarbonFree to capture CO2 and mineralize emissions
to make commercial, carbon-negative chemicals; and development of
TETRA's lithium and bromine mineral acreage to meet the growing
demand for oil and gas products and energy storage. Visit the
Company's website at www.tetratec.com for more information.
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 regarding market demand and trends, and cost reduction
initiatives, and statements that refer to 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 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 raise financing in the future; our customer’s ability to
secure project financing; the amount of final tax credits available
to our customers or to Eos Energy Enterprises, Inc. pursuant to the
Inflation Reduction Act; uncertainties around our ability to secure
conditional commitment in a timely manner or at all, or final
approval of a loan from the Department of Energy, the Loan Programs
Office, or the timing of funding and the final size of any loan if
approved; the possibility of a government shutdown while we remain
in the due diligence phase with the U.S. Department of Energy Loan
Programs Office or while we await notice of a decision regarding
the issuance of a loan from the Department Energy Loan Programs
Office; our ability to develop efficient manufacturing processes to
scale and to forecast related costs and efficiencies accurately;
our ability to reduce costs; fluctuations in our revenue and
operating results; competition from existing or new competitors;
the failure 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 U.S. trade
environment; risks resulting from the impact of global pandemics,
including the novel coronavirus, Covid-19; 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 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; 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, including those under the heading
“Risk Factors” therein, and other factors identified in Eos’s prior
and future SEC filings with the SEC, available at www.sec.gov.
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.
Contacts |
|
Investors: |
ir@eose.com |
Media: |
media@eose.com |
TETRA Technologies (NYSE:TTI)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
TETRA Technologies (NYSE:TTI)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024