Eos Energy gets $87M DOE loan advance for second battery line

Eos Energy Enterprises (NASDAQ: EOSE) received an $87 million advance under the second tranche of its loan agreement with the U.S. Department of Energy's Office of Energy Dominance Financing, the company said in a press release.

The advance brings the total drawn under the DOE facility to approximately $178 million since 2024. It reimburses 80% of eligible costs associated with the company's Thorn Hill manufacturing facility in Warrendale, Pennsylvania.

The company's second production line, Line 2, entered commercial production in June 2026 and is being ramped toward an annual manufacturing capacity of approximately 2 GWh. Eos said it expects Thorn Hill to support approximately 4 GWh of annual manufacturing capacity across two lines upon completion of a planned relocation of Line 1 to the facility, subject to lender approvals.

Chief Financial Officer Alessandro Lagi said the advance "reimburses a significant portion of the investment we have already made in Line 2 and returns that capital to the balance sheet, giving us more room to invest in the business while maintaining a disciplined approach to growth."

Chief Operating Officer John Mahaz said operating two lines under one roof "drives more efficient use of our engineering, support resources, and labor."

Eos said it expects to create jobs across four shifts to staff Line 2, with additional shifts coming online as production ramps up.

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