What's Going On With Eos Energy Stock Wednesday?

Eos Energy Enterprises, Inc. EOSE stock is trading higher on Wednesday after the company announced it secured a 400 MWh standalone storage order with International Electric Power.

The Details: This order is part of a project to be deployed at Marine Corps Base Camp Pendleton in San Diego, California which aims to enhance grid resiliency for the U.S. Navy and Marine Corps.

The project, supported by funding from the California Energy Commission's Long Duration Energy Storage Program, will use Eos Z3 batteries and is scheduled for delivery beginning in 2025. The Eos Z3 Cubes are safe, non-flammable and don't require cooling systems, which helps minimize noise and reduce operational costs.

“IEP and CEC are at the forefront of North American long-duration energy storage, and their partnership has been invaluable as Eos transitions into a profitable operating company. They recognize the need for multiple storage technologies and the energy security that an American-made product provides,” added Joe Mastrangelo, Eos CEO.

“It’s an honor to have been selected for such an important installation at Camp Pendleton.”

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EOSE Price Action: At the time of writing Eos Energy stock is trading 14.7% higher at $4.48, according to data from Benzinga Pro.

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