Holtec forms energy storage partnership with Eos investment

The Eos Aurora battery system installed next to a solar power plant. Source: Eos Energy Storage

September 24 (Renewables Now) - Holtec International, a US nuclear power-focused energy technology company, has bought a significant equity stake in Eos Energy Storage, which makes batteries for grid infrastructure.

The two companies have also entered into a partnership aimed at commercialising the Gen2 Eos Aurora DC battery system that is optimally suited for solar plus storage applications. Another goal of the tie-up is to help establish an automated manufacturing facility in the US. The pair will be offering cost-competitive energy storage solutions that enable dispatchable solar or wind, according to the announcement.

Holtec said in a statement it will set up a subsidiary called HI-POWER to build and operate manufacturing capacity both at home and abroad. Kris Singh, Holtec’s president and CEO, stated that it is likely to build the first such facility in Camden, New Jersey.

The announcement says further that Eos’ manufacturing process entails rapid deployment of localised production lines capable of producing up to 400 MWh/yr of the Gen2 Eos Aurora product.

Holtec did not say how much it is investing in Eos.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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