The rise of renewable energy generation, such as solar and wind, has introduced increasing oscillation in power output delivered to the electric grid. Storing electrical energy on an industrial scale to stabilize the transmission grid and to minimize wheeling of power over long distances is increasingly a critical imperative for the world’s energy infrastructure. Holtec International (Holtec) and Eos Energy Storage (Eos) based in Edison, NJ are poised to address this challenge using the revolutionary Eos Aurora® battery system powered by Eos’ proprietary Znyth® technology which is the centerpiece of the Alliance Agreement signed by Holtec and Eos. Under the Agreement, Holtec owns a significant equity stake in Eos and will establish a production facility in Camden, NJ, to manufacture the “batteries” in a state-of-the-art assembly line.
The Znyth battery (shown in the left photograph on this page) is compact, non-combustible (a major perceived demerit of Lithium-ion batteries), long-lasting and built from sustainably sourced materials. The Eos Aurora DC battery systems are modular in construction, packing as much as 500kWh of electrical energy in a pre-integrated, outdoor-rated, plug-and-play enclosure. The photo below illustrates an actual installation of Eos’ Gen1 product at a solar + storage microgrid installed by PSE&G at a critical waste water treatment plant in West Caldwell, NJ.
Holtec and Eos plan to pool their resources to accelerate further advances in the battery and system design to safely store increasing energy at higher efficiency and lower cost. This technology will make stable mini-grids possible adding greatly to the resiliency of the power supply infrastructure.
Under the terms of the alliance, Holtec’s subsidiary HI-POWER will build and operate one or more manufacturing plants to supply customers worldwide. HI-POWER will have manufacturing rights for serving customers in North America and preferred right to establish plants to serve local overseas markets.
“Teaming up with Holtec will turbocharge the rise of our revolutionary energy storage technology,” says Eos’ CEO Mr. Michael Oster. “We couldn’t ask for a better partner with whom to scale-up manufacturing and build out a global sales platform to spread the benefit of our technology.”
“HI-POWER hopes to build its first plant in Camden to fulfill a rapidly growing global demand for energy storage using the innovative EOS technology. We hope to establish a virtuous feedback loop in Camden by earmarking 5% of our annual profits earned by our Camden HI-POWER plant to support functioning charities in the city,” says Dr. Kris Singh, Holtec’s President & CEO.