Eos Energy jumps after Texas battery contract tests its bet
Eos Energy Enterprises shares climbed Thursday as Frontier Power USA agreed to buy a 480 megawatt-hour portfolio of battery energy storage projects from Bimergen Energy. This is the first significant deal tied to the deployment structure Eos unveiled with Cerberus Capital Management last week. A megawatt-hour is a unit of stored electricity, and battery energy storage system means grid-scale battery project.