Eos Energy Storage Announces Private Placement of $15 Million

NEW YORK--()--Eos Energy Storage (“Eos” or the “Company”), a developer and manufacturer of grid-scale battery systems, today announced a private placement with AltEnergy LLC. Eos expects to receive $15 million in gross proceeds from the private placement and plans to place an additional $10 million with accredited investors for total gross proceeds of $25 million.

The placement has been structured in two closings. The first closing occurred on December 1, 2014 and the second closing is expected to occur in the first financial quarter of the current fiscal year. Proceeds from the financing will be used primarily for pilot manufacturing scale-up and ongoing commercialization of Eos’s Aurora 1000|4000 DC battery product.

This notice is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the “Securities Act”), and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation, or sale of the securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state or jurisdiction.

The securities offered in the private placement have not been registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission (“SEC”) or through an applicable exemption from SEC registration requirements. Securities of the Company were offered only to accredited investors.

About Eos Energy Storage

Eos is developing a low-cost grid-scale energy storage solution for electric utilities, with additional applications in commercial and industrial, telecom, and residential markets. Eos’s mission is to produce safe, robust, cost-effective storage solutions that are less expensive than incumbent alternatives, such as gas turbines and grid infrastructure. Eos is located in Edison, NJ, and New York, NY. More information is at www.eosenergystorage.com.

About AltEnergy, LLC

AltEnergy is an investment firm that focuses on identifying and developing early-stage opportunities in the energy sector. The company plays an active role in helping its portfolio companies to realize their full potential by providing them with patient capital, strategic relationships, and business development resources and expertise. AltEnergy’s portfolio includes Tres Amigas, LLC, an infrastructure project that will connect the three major transmission grids in the U.S.; an energy efficiency and demand response software technology provider, Viridity Energy, Inc.; and numerous renewable energy projects. More information is at www.altenergyllc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITAGATION REFORM ACT OF 1995: This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements that relate to the existing and anticipated closing of the placement. Such forward-looking statements made by the Company involve risks and uncertainties and are subject to change based on factors beyond the Company’s control, including the fact that the closing of the private placement is subject to various conditions, some of which are outside of the company’s control. There can be no assurance that the contemplated sale will close. The Company takes no obligation to publicly update or revise any forward-looking statements.

Contacts

Eos Energy Storage Media
Philippe Bouchard, 212-628-7191
pbouchard@eosenergystorage.com
www.eosenergystorage.com

Contacts

Eos Energy Storage Media
Philippe Bouchard, 212-628-7191
pbouchard@eosenergystorage.com
www.eosenergystorage.com