Babcock & Wilcox News

• B&W will Market Eos’ Battery Storage Solutions Globally
• B&W is Exclusive Preferred Installer in U.S. and Canada
• Eos Znyth^® Zinc Battery is a Safe, Scalable and Sustainable Renewable Energy Storage Technology

(AKRON, Ohio – October 13, 2020) – Babcock & Wilcox (B&W) (NYSE: BW), through its B&W Renewable segment, has signed a strategic partnership agreement with Eos Energy Storage LLC, to sell and service Eos’ innovative, patented Eos Znyth^® zinc battery solution for industrial and utility-scale energy storage. Under this agreement, B&W subsidiary The Babcock & Wilcox Company will market and sell this pioneering battery technology to its customers worldwide and B&W subsidiary Babcock & Wilcox Construction Co., LLC will serve as Eos’ exclusive preferred installation provider for the technology in the U.S. and Canada. 

Under the agreement, B&W will market the Znyth zinc battery storage solution to its global customer base, including industrial customers such as refineries and pulp and paper plants, as well as utility and power customers. In addition, B&W will immediately begin collaborating with Eos on installation, commissioning and maintenance scope for projects in Eos’ robust pipeline.

“The Znyth zinc battery storage solution has the potential to be a real game-changer, offering proven energy storage capabilities and improved safety performance over lithium-ion batteries. Coupling it with B&W’s strong reputation with utility and industrial customers worldwide, our construction and plant maintenance capabilities, and our experienced global sales team is an exciting development for both of our companies,” said Kenny Young, B&W Chairman and Chief Executive Officer. “As the global supply chain of high-quality lithium remains uncertain, and lithium-ion applications are limited due to safety considerations, we are particularly excited about Eos’ zinc batteries as a safer, more sustainable alternative and look forward to introducing B&W’s customers to this innovative energy storage option.”

“We are thrilled to partner with B&W. Their expertise in energy and environmental technology will provide Eos customers with high quality service and a depth of knowledge about the benefits of our zinc-based battery systems,” said Eos CEO Joe Mastrangelo. “B&W’s broad market reach in sales and services, along with its extensive construction and installation experience, will enable us to scale our business at a rapid pace to meet rising demand for our safe and innovative storage solution. This will ensure that sustainable and affordable energy storage is available to utilities, power producers and industrial companies around the world.”

Eos’ Znyth technology employs inexpensive, widely available materials within a robust, scalable design to achieve long life and extremely low cost. Coupled with B&W’s many decades of installation and maintenance experience for customers in a broad spectrum of industrial and utility markets, the B&W-Eos strategic partnership offers customers a safe, reliable, economical energy storage solution installed and serviced by the B&W personnel they’ve come to know and trust with their plants’ service needs. 

About B&W

Headquartered in Akron, Ohio, B&W is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow B&W on LinkedIn and learn more at www.babcock.com.

About Eos Energy Storage 
At Eos, we are on a mission to accelerate clean energy by deploying stationary storage solutions that can help deliver the reliable and cost-competitive power that the market expects in a safe and environmentally sustainable way. Armed with a patent for a membrane-free zinc battery technology, Eos has been pursuing this opportunity since 2008 when it was founded. Eos Energy Storage has 10+ years of experience in battery storage testing, development, deployment, and operation. The Eos Aurora® system integrates the Company’s aqueous, zinc battery technology (Znyth®) to provide a safe, scalable, and sustainable alternative to Lithium Ion. https://eosenergystorage.com/.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to a strategic partnership agreement with Eos Energy Storage LLC. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.