November 19, 2020
Tesla Has a New Public Competitor in Power Storage
Eos Energy Enterprises uses zinc-based batteries to hold electricity generated by facilities such as windmills. The technology has the potential to be less expensive than the lithium-based batteries Tesla uses. Eos Energy Enterprises completed its merger with a special-purpose acquisition company, or SPAC, on Monday, and began trading on Tuesday under the ticker EOSE. Both companies offer the ability to store power produced by renewable but unpredictable assets such as solar power so that it can be used when demand is the highest.