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Press release from Business Wire

Eos Energy Storage, Con Edison Announce Groundbreaking Pilot in New York City

<p class='bwalignc'> <i><b>NYSERDA-Funded Project Will Enhance Grid Reliability, Reduce Customer Costs</b></i> </p> <p class='bwalignc'> </p>

Tuesday, April 30, 2013

Eos Energy Storage, Con Edison Announce Groundbreaking Pilot in New York City

17:11 EDT Tuesday, April 30, 2013

NEW YORK (Business Wire) -- Eos Energy Storage and Con Edison, a subsidiary of Consolidated Edison, Inc. (NYSE: ED), today announced a trailblazing partnership to install and test Eos's cutting-edge energy storage technology within the utility's New York City facilities. Eos is currently commercializing a safe, low cost, and long-lasting grid-scale battery technology that can reduce customer costs, defer utility infrastructure upgrades and enhance power quality and reliability.

Supported by funding from the New York State Energy Research and Development Authority (NYSERDA), the pilot will demonstrate the benefits of distributed energy storage.

“Through this pilot and partnership with Con Edison, we have the opportunity to install our safe, efficient battery technology in a dense load center like New York City, where the benefits of energy storage are particularly significant,” said Eos President Steve Hellman.

Eos stated that the pilot, targeted to begin in early 2014, is a milestone in the scale-up and commercialization of Eos's core product, a 1MW/6MWh grid-scale battery called the Eos Aurora. The Aurora is backed by Eos's novel, low-cost and proprietary zinc hybrid cathode technology, which has a 75% round-trip efficiency rate and a 10,000-cycle/30-year lifetime.

“Our belief is that affordable energy storage will improve the efficiency and resilience of the electricity grid while reducing costs for utilities and customers alike, and it is a great opportunity to prove this together with a pre-eminent utility like Con Edison.” Eos CEO Michael Oster said.

“Con Edison looks forward to installing and measuring Eos's new battery. As pioneers in the delivery of electricity, Con Edison sees the potential of another pioneer, which is why the company is working with Eos,” said Troy Devries, Con Edison's director of Research and Development. “Energy storage is one of the last frontiers for electric utilities and Eos Energy Storage holds promise for smooth integration.”

ABOUT EOS ENERGY STORAGE:

Eos is developing a novel, low-cost energy storage solution for the electric utility and transportation industries. Eos's mission is to produce cost-effective energy storage solutions that are less expensive than both other battery technologies and the most economical incumbent alternatives used to provide the same service, such as gas turbines for power generation. Eos is located in Edison, NJ, and New York, NY.

Eos Energy Storage LLC
Philippe Bouchard, 212-628-7191
pbouchard@eosenergystorage.com

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