Eos Energy Enterprises, Inc. announced on January 27, 2025, the successful achievement of the third set of performance milestones with an affiliate of Cerberus Capital Management LP. This enabled the company to access the final $40.5 million of the Delayed Draw Term Loan (DDTL).
With this final draw, the $210.5 million DDTL, initially announced in June 2024, is now fully funded. This funding is crucial for fueling ongoing operations, supporting U.S. production expansion, and advancing the creation of an American energy storage powerhouse.
Eos reported surpassing its January raw materials cost-out target by 6% and maintaining manufacturing cycle times below 10 seconds. These operational efficiencies demonstrate continued progress towards profitable growth and a strong foundation for scaling production to meet customer demand for long-duration energy storage.
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