Record Quarterly Revenue
Eos Energy delivered record quarterly revenue of $30.5 million, doubling what was reported in Q2, supported by shipments to five different customers. This was a significant achievement showing the acceleration of production.
Significant Increase in Commercial Pipeline
The commercial pipeline grew to $22.6 billion, a net increase of 21% quarter-over-quarter, representing about 91 gigawatt hours of potential projects, with data centers being the fastest-growing segment.
Successful Strategic Agreements
Eos signed a strategic purchase order with Frontier Power for 228 megawatt hours and a 750 megawatt hour supply contract with MN8 Energy, demonstrating strong partnerships and the demand for long-duration storage.
Operational Improvements
Eos improved safety incidents by 84% from Q2 to Q3 and decreased battery defects by 45%. Production output is expected to triple in Q4 with increased capacity utilization.
Strategic Expansion Plans
Plans for a new optimized building and installation of Line 2 are expected to increase efficiency and capacity, with a focus on reducing production costs and cycle times.