Eos Energy Storage LLC, a manufacturer of zinc battery storage systems, has signed a broad-ranging agreement to provide over 1 GWh of energy storage projects – at an estimated value of more than $250 million – to Hecate Energy, a global developer, owner and operator of solar, natural gas, wind and energy storage projects.
Eos will design, manufacture and deliver its zinc-based battery solutions to Hecate over the course of the next 24 months across Colorado, New Mexico and Texas. The projects are a mix of standalone battery storage and solar+storage. The announcement of the agreement with Hecate further expands Eos’ pipeline commitments to 3 GWh and, upon the completion of several customary closing conditions, purchase orders from Hecate are expected in the next six to nine months.
These projects are indicative of the shifting dynamics of the energy storage market from shorter duration systems, which are commonly used for quick response power, to longer duration systems, which are better suited for improving overall grid resiliency and capacity-firming purposes.
“Hecate is thrilled to work with Eos,” says Fazli Qadir, CTO of Hecate Energy. “Eos’s technology is a great fit for the longer-duration application requirements of these projects, and we’re excited by the ability of Eos’ solutions to flexibly operate across a range of use cases that are front and center in the energy industry.”
Eos’s zinc-based battery systems are made in the U.S. and were designed specifically for the stationary storage market. They are unique for their scalable design, ability to withstand extreme temperatures, widely available and non-rare earth materials, and full recyclability. The system is also a cost-effective energy storage solution, with a 15- to 30-year life and minimal installation and maintenance costs.