Eos Energy Enterprises Acquires Remaining 51 Percent Ownership Stake in HI-POWER, LLC, a Manufacturing Joint Venture with Holtec International
EDISON, N.J., April 14, 2021 (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 the acquisition of the remaining 51% ownership stake in HI-POWER, LLC ("HI-POWER"). Eos expects the acquisition to enhance its operational and financial flexibility through the vertical integration of its supply chain. Formed in August 2019, HI-POWER is a manufacturing facility joint venture with Holtec International ("Holtec") located near Pittsburgh, Pennsylvania and in close proximity to more than 80% of Eos's suppliers. HI-POWER, which has exclusive manufacturing rights
