Shares of Eos Energy Enterprises, Inc. (EOSE) are surging more than 34% Friday morning after the company announced a $500 million expansion plan to scale up annual production.
The expansion plan called Project AMAZE — American Made Zinc Energy, is designed to increase annual production to 8 GWh storage capacity by 2026.
The company said that the Department of Energy’s (DOE) Loan Programs Office (LPO) has issued up to $398.6 million conditional commitment for a loan guarantee, which, if the loan is finalized, is expected to fund 80% of the expansion in Pennsylvania.
EOSE, currently at $4.38, has traded in the range of $0.9550 – $5.6650 in the last 52 weeks.
Source: Read Full Article
Lates News:
-
Markets Anxious As Oil Price Surge Spotlights Inflationary Fears
-
IonQ Adds 4% As Co. Sees Increased Bookings
-
Fidelity Exec's Analysis of BTC in Portfolio Diversification
-
Crypto Market Surges Ahead of Equities: Dr. Dragosch's Analysis
-
Will Bitcoin Price Crash To $10,000? Bloomberg Expert Reveals When