TLDR
- Eos Energy stock surged 18.75%, closing at $3.61, after announcing a partnership with Google and MN8 Energy
- The deal involves deploying Eos’ Z3 zinc-based long-duration battery storage at the Mammoth Solar project in West Virginia
- The solar project will power Google data centers, with storage coming online in 2029 and 2030
- Eos stock had hit a 52-week low of $3.10 just one day before the announcement
- B.Riley holds a Neutral rating with a $5.00 price target on EOSE
Eos Energy Enterprises stock jumped 18.75% on Wednesday, closing at $3.61, after the company announced a three-way partnership with Google and independent power producer MN8 Energy.
Eos Energy Enterprises, Inc., EOSE
The deal centers on the Mammoth Solar project in Kanawha County, West Virginia, a utility-scale solar development being built on a reclaimed coal mine. The project is designed to deliver clean energy to Google’s data centers in the region.
Eos will supply its Z3 zinc-based battery technology to the project. The system offers up to 10 hours of storage, which allows solar power to be delivered to the grid well after it has been generated.
MN8 Energy will own and operate the solar project. Commercial operations are expected to launch in 2028, with the Eos storage systems coming online in 2029 and 2030.
Google Backing Puts Eos Tech in the Spotlight
Getting Google’s name attached to the project is a meaningful moment for Eos. It puts the company’s aqueous zinc chemistry in front of a much wider audience and validates it as a serious option for grid-scale storage.
Eos chief commercial officer Nathan Kroeker said: “Z3 extends the value of clean generation across more hours, strengthens the overall portfolio, and delivers more dependable capacity when it’s needed most.”
The timing of the announcement was striking. Just one day earlier, on September 1, EOSE had sunk to a new 52-week low of $3.10. The stock had fallen 57% over the prior year and was down 72% year-to-date before Wednesday’s surge.
Financial Picture Remains Mixed
Despite the stock bounce, Eos still has work to do financially. The company reported a wider-than-expected loss in Q2, posting an adjusted loss of $1.20 per share against analyst estimates of a 16-cent loss.
Revenue, however, told a different story. Q2 revenue came in at $68.77 million, up 351% year-over-year from $15.2 million, and up 21% from Q1.
Eos also tightened its full-year 2026 revenue guidance to $300 million to $350 million, down from the previous range of $300 million to $400 million. The revision came after the company decided to consolidate battery manufacturing into a single facility in Warrendale, Pennsylvania.
B.Riley responded to the guidance change by cutting its price target on EOSE from $8.00 to $5.00, while keeping a Neutral rating. The analyst firm noted the production consolidation as the key reason for the revision.
Eos says the production changes will not affect customer delivery commitments.
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