Eos Energy Enterprises Join Forces with SABIC Specialties to Produce a Specialty Light-Weight, Conductive Composite Thermoplastic for Eos Z3TM Battery

Multiyear supply agreement supports scaling Eos’s Z3 battery production and reducing battery module cost as part of Project AMAZE

TURTLE CREEK, Pa., Feb. 01, 2024 (GLOBE NEWSWIRE) -- 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 entered a multiyear agreement with SABIC Specialties’ US business unit, SHPP US LLC, a Saudi Basic Industries Corporation (“SABIC”) affiliate, to supply conductive composite thermoplastic for the Eos Z3 battery module. Over the past four years, Eos and SABIC worked collaboratively to develop a solution using one of SABIC’s new resin materials to replace the titanium used in prior Eos battery iterations.

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“Over the past six years, we’ve worked hard to take Eos from a research company to an operating company. Moving from the lab to small-scale production, and now to manufacturing at scale, requires partners who bring a mix of scale and expertise,” said Joe Mastrangelo, CEO of Eos. “Our entrepreneurial spirit allows us to find creative ways to drive down cost and improve battery performance. In working closely with SABIC Specialties, we specified an innovative new material that we believe can be produced at scale in the United States.”

Eos and SABIC Specialties began collaborating on this new light-weight material in 2019 and took several years of research and development to finalize a solution. The SABIC-developed and patented material supports detailed requirements provided by Eos’s application technology team. The Eos Z3 battery module weighs 80% less than prior product generations and allows streamlined manufacturing, while achieving lower cost and higher performance.

“We are driven to enable progress and a carbon neutral future together with our customers. Innovation in batteries is key for the energy transition,” said Darpan Parikh, Director, Sales and Supply Chain, Americas, SABIC Specialties. “Working together with Eos has been instrumental to help us push the boundaries of material science to improve their application’s performance and manufacturing process.”

“Scaling toward profitability is priority number one for us, and finding new materials and manufacturing processes to drive down cost moves us closer to this goal,” said Francis Richey, Senior Vice President of Research and Development at Eos. “On top of that cost benefit, replacing titanium with conductive composite thermoplastic also improves the overall performance of the battery, reduces weight and overall processing time.”

This is the second major supply chain partnership announced by Eos in 2024, as the Company continues on its path to profitability outlined in its Dec. 12 Strategic Outlook.

About Eos Energy Enterprises

Eos 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 SABIC Specialties’ US Business Unit, SHPP US LLC

SABIC Specialties’ US business unit, SHPP US LLC, is a fully owned affiliate company of SABIC. SABIC Specialties is set to work on the hard, difficult endeavors in technology that bring a fundamental progress to the way we travel, communicate, work and live. SABIC Specialties provides unique high performing resins, specialty chemicals, and functional compounds, to markets such as Telecommunications, Industrial Equipment, Infrastructure, Energy, Building & Construction, Healthcare, Electronics, Mass Transportation and Automotive.

SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, agri-nutrients and metals.

SABIC recorded a net profit of SR 16.53 billion (US$ 4.41 billion) in 2022. Sales revenues for 2022 totaled SR 198.47 billion (US$ 52.92 billion). Total assets stood at SR 313 billion (US$ 83.46 billion) at the end of 2022. Production in 2022 stood at 61 million metric tons.

The company has more than 31,000 employees worldwide and operates in around 50 countries. Fostering innovation and a spirit of ingenuity, SABIC has 9,948 patents and pending applications, and has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia and North Asia.