PITTSBURGH, Pa., June 18, 2026 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long-duration energy storage (LDES) systems sourced and manufactured in the United States, today announced the first purchase order under the 2 GWh capacity reservation agreement with Frontier Power USA Parent, LLC (FPUSA). The order supports FPUSA’s Redbird project, a 100 MW / 400 MWh battery energy storage system using Eos’ Z3™ technology.
Developed by Bimergen, and previously by Bridgelink, for the Electric Reliability Council of Texas (ERCOT) market, the Redbird project was previously approved under a Joint Development Agreement with Eos, with Eos’ Z3™ technology selected for deployment. As previously announced, FPUSA and its affiliates have acquired and will provide 100% of the equity for construction of the Redbird project. Bimergen retains a minority economic interest and will collaborate with FPUSA to bring the project into commercial operation.
“Redbird did not happen overnight. It came from years of working with Bimergen to move projects under active development toward execution,” said Nathan Kroeker, Chief Commercial Officer of Eos. “What FPUSA adds is the capital to turn opportunities into operating assets. That is what FPUSA was built to do, and the Redbird conversion is one of the first to prove it out.”
This order reinforces the strength and scalability of the FPUSA model: converting long-standing developer relationships into a high-quality, late-stage pipeline and deploying capital to bring projects that use Eos technology into operation.
“We developed Redbird to address growing demand for dispatchable storage in ERCOT and selected Eos because Z3™ is purpose-built for the multi-hour applications the market requires,” said Cole Johnson, Co-Chief Executive Officer of Bimergen Energy. “Combining proven technology with committed capital converts projects like Redbird into operating assets.”
Designed as a four-hour system, Redbird is expected to provide dispatchable storage capacity in ERCOT, supporting energy shifting, ancillary services, and overall grid reliability. The project meets rising demand for long-duration storage built for safety, reliability, and domestic supply chain strength, and is positioned to serve forecasted load growth and ERCOT market requirements.
“FPUSA was created to bridge the gap between project development and execution,” said Aaron Maczonis, Managing Director, Cerberus Capital Management. “FPUSA is building relationships with leading developers, assembling a portfolio of high-quality projects, and providing access to the capital needed to bring them online.”
As part of the acquisition and purchase order by FPUSA and its affiliates, the Redbird volume will be applied against the 2 GWh firm capacity reservation agreement between FPUSA and Eos. In addition, with this order, the Company has now fulfilled nearly 50% of the 1 GWh Bridgelink master supply agreement (MSA), while further advancing an additional development pipeline of 12 GWh across ERCOT, PJM, CAISO, and MISO.
About Eos Energy Enterprises
Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours) and provides customers with significant operational flexibility to cost effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com.
About Frontier Power USA
FPUSA is a long-duration energy storage development and investment platform organized to accelerate the deployment of utility-scale battery infrastructure across the United States. FPUSA is the first in the long-duration energy storage industry designed to integrate development, committed manufacturing capacity, institutional capital, and insured performance under a single banner, which is expected to allow the conversion of development-stage pipelines into construction-ready assets at speed and scale. This compresses the time from project commitment to commercial operation. For more information visit frontierpowerusa.com.
About Bimergen Energy Corporation
Bimergen Energy Corporation (NYSE American: BESS) is a U.S.-based renewable energy developer, asset owner and independent power provider focused on utility-scale battery energy storage systems and solar projects. Bimergen develops and operates infrastructure designed to enhance grid stability and support the integration of renewable generation across key U.S. markets, maintaining a diversified pipeline and partnering with institutional capital providers to advance projects through construction and long-term operation. For more information visit Bimergen.com.
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Forward-Looking Statements and Important Information
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Redbird project and its expected capacity, configuration, and grid services; the conversion of the purchase order and the application of the Redbird volume against the 2 GWh firm capacity reservation agreement between Eos and FPUSA; the development, financing, construction, and commissioning of Redbird and other projects; Eos’ intent to acquire an equity interest in FPUSA and the timing and conditions of any such acquisition; the size and conversion of the Bridgelink, Bimergen, and broader FPUSA project pipeline into future purchase orders and backlog; the extent to which any purchase orders, capacity reservations, or project pipeline may ultimately result in executed contracts, construction activities, or revenue; and the anticipated benefits of the FPUSA platform and the Company’s relationships with developers. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.
Factors which may cause actual results to differ materially from current expectations include, but are not limited to: risks related to the development, financing, construction, and commissioning of the Redbird project and other projects, including timelines and the ability of counterparties to perform; the timing, issuance, and size of future project-level purchase orders and the conversion of framework agreements, capacity reservations, backlog, and pipeline into revenue; risks related to FPUSA, including its ability to source, acquire, finance, and execute projects, and risks related to Eos’ intended equity interest in FPUSA and any related-party considerations; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, and contractual lockup of shares; our customers’ and project counterparties’ ability to secure project financing; changes adversely affecting the business in which we are engaged; our ability to generate cash, service indebtedness, and raise financing in the future; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; the amount of final tax credits available pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; competition from existing or new competitors; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and the potential costs of regulatory compliance; changes in applicable laws or regulations; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably and to retain management and key employees; risks related to adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; and other risks and uncertainties.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
This press release includes information about a proposed series of transactions, including the formation of a joint venture between us and CCM Frontier JV Holdco, LLC, an affiliate of Cerberus Capital Management (“Cerberus”), certain commercial arrangements to be entered into between us and FPUSA, and other related transactions (collectively, the “Proposed Transactions”). We and Cerberus have entered into a binding term sheet with respect to the Proposed Transactions. However, the completion of the Proposed Transactions remains subject to a number of conditions and uncertainties, including the receipt of required third party-approvals, including the approval of the Department of Energy, the negotiations and entry into definitive agreements for the Proposed Transactions and the negotiation of certain terms of the Proposed Transactions. While we currently intend to take the actions within our control to complete the Proposed Transactions on the contemplated terms and timeline, there can be no assurances that the Proposed Transactions will be completed on the contemplated terms or timeline or that the Proposed Transactions will be completed at all.
