Eos Energy Enterprises Appoints Jeff McNeil to Board of Directors
06 Oktober 2023 - 4:30PM
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the
“Company”), a leading provider of safe, scalable, efficient, and
sustainable zinc-based long duration energy storage systems, today
announced that Jeff McNeil, former Chief Operating Officer, and
Executive Vice President of Enphase, has been appointed to the Eos
Board of Directors, effective October 6, 2023.
McNeil brings over 40 years of engineering,
manufacturing, supply chain, quality, customer service and
executive management experience in the semiconductor, disk drive,
and solar industries holding various senior roles. Prior to
Enphase, Jeff held an impressive 21-year tenure at Cypress
Semiconductor, where he served as Senior Vice President, Worldwide
Operations responsible for manufacturing, planning, and
logistics.
“We are thrilled to welcome Jeff to the Eos
Board,” said Russ Stidolph, Chairman of Eos. “As we continue to
grow and scale our business, Jeff’s extensive operational knowledge
and the critical role he played at Enphase makes him a great
addition to our Board.”
McNeil is currently serving as a board member
for Upstart Power, a residential fuel cell manufacturer. With his
previous experience as both an advisor and board member in the
manufacturing space, he brings expertise and insights to support
Eos as the Company focuses on executing operational scale for the
Eos Z3™ energy storage system.
“Jeff is a great addition to our Board, and he
also strengthens our operational domain expertise. His guidance
will be instrumental in helping us deliver our planned capacity
expansion and scale the company,” said Joe Mastrangelo, Chief
Executive Officer. “I look forward to partnering with him and
having his real-world experience and guidance to position Eos for
the next phase of its development.”
“It’s an honor to join the Board at such a
pivotal time in the Company’s growth,” McNeil said. “I look forward
to leveraging my past experiences to help the Company navigate a
rapidly evolving environment as it continues to scale and to help
position Eos to become a key player in the world’s energy
transition.”
About Eos
Eos Energy Enterprises, Inc. is accelerating the
shift to clean energy with positively ingenious solutions that
transform how the world stores power. Our breakthrough Znyth™
aqueous zinc battery was designed to overcome the limitations of
conventional lithium-ion technology. Safe, scalable, efficient,
sustainable—and manufactured in the U.S—it's the core of our
innovative systems that today provide utility, industrial, and
commercial customers with a proven, reliable energy storage
alternative for 3- to 12-hour applications. Eos was founded in 2008
and is headquartered in Edison, New Jersey. For more information
about Eos (NASDAQ: EOSE), visit eose.com.
Contacts Investors: ir@eose.comMedia: media@eose.com
Forward-Looking Statements / Disclaimer
This press release includes certain statements
that may constitute "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 that refer to forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions. 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. Factors which may
cause actual results to differ materially from current expectations
include, but are not limited to: changes adversely affecting the
business in which we are engaged; our ability to forecast trends
accurately; our ability to secure final approval of a loan
guarantee from the Department of Energy or the timing and final
amount of any loan; our ability to generate cash, service
indebtedness and incur additional indebtedness; our ability to
secure financing to continue expansion; our ability to secure
grants or other federal, state and local investment; our ability to
secure satisfactory intercreditor arrangements or modifications
with respect to our existing debt financings; our customer’s
ability to secure project financing; our ability to develop
efficient manufacturing processes to scale and to forecast related
costs and efficiencies accurately, and to secure labor;
fluctuations in our revenue and operating results; competition from
existing or new competitors; the failure to convert firm order
backlog and pipeline to revenue; the failure to sufficiently reduce
manufacturing costs, potential delays in the launch of our Eos Z3
battery; inefficient implementation of the Inflation Reduction Act
of 2022; the amount of final tax credits available to our customers
or to Eos pursuant to the Inflation Reduction Act; risks associated
with security breaches in our information technology systems; the
risk of a government shutdown as Eos remains in due diligence on
its loan application with the U.S. Department of Energy Loan
Programs Office or while we await approval and funding of any loan
guarantee; risks related to legal proceedings or claims; risks
associated with evolving energy policies in the United States and
other countries and the potential costs of regulatory compliance;
risks associated with changes in federal, state, or local laws;
risks associated with potential costs of regulatory compliance;
risks associated with changes to U.S. trade policies; risks
resulting from the impact of global pandemics, including the novel
coronavirus, Covid-19; our ability to maintain the listing of our
shares of common stock on NASDAQ; our ability to grow our business
and manage growth profitably, maintain relationships with customers
and suppliers and retain our management and key employees; risks
related to the adverse changes in general economic conditions,
including inflationary pressures and increased interest rates; risk
from supply chain disruptions and other impacts of geopolitical
conflict; changes in applicable laws or regulations; the
possibility that Eos may be adversely affected by other economic,
business, and/or competitive factors; other factors beyond our
control; risks related to adverse changes in general economic
conditions 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 Eos’s most recent filings with the Securities
and Exchange Commission, including Eos’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 Eos makes with the Securities and Exchange
Commission from time to time. Moreover, Eos 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, Eos 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.
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