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Stock impact report

Eos Energy Enterprises Reports First Quarter 2022 Financial Results

Eos Energy Enterprises, Inc. (EOSE) 
Company Research Source: GlobeNewswire
EDISON, N.J., May 10, 2022 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced financial results for the first quarter ended March 31, 2022. First Quarter Highlights Continued commercial pipeline growth; booked orders of $67 million year-to-date resulting in orders backlog of $212 million with a current opportunity pipeline of over $6 billion.Achieved 65 MWh of a 550 MWh annualized battery manufacturing capacity expansion plan in two months.$3.3 million in revenue from four customer projects, including first Energy Block deliveries for the 80 MWh Pine Gate Renewables’ Eastover Project.69% sequential increase in Energy Block volume, on a revenue recognition basis.Q1 ‘22 ending Energy Block bill of material cost reduced by approximately 14% vs year end 2021.Q1 ‘22 average Energy Block product cost lower by 7.4%, net of $1.7 million incremen Show less Read more
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