Shares of Eos Energy Enterprises climbed after the company said it would help deliver new, clean, around-the-clock energy resources to the PJM grid, supporting growing demand in the Mid-Atlantic region.
The stock rose 9.5%, to $3.33, shortly after Wednesday's opening bell. Shares have lost roughly three-quarters of their value year to date.
The company--which manufactures zinc-based, long-duration energy storage systems--said before the bell that it would work with MN8 Energy and Google to add dispatchable capacity to the grid serving Google's data centers in the region, including a planned project in West Virginia.
Owned and operated by MN8, the project will combine 86 megawatts of utility-scale solar energy; 10 megawatts of Eos' Z3 zinc-based, long-duration energy storage; and 70 megawatts of lithium-ion energy storage, the companies said.
The solar project is expected to reach commercial operation in 2028, with lithium-ion storage and long-duration storage following in 2029 and 2030, respectively.
Google's Director of Advanced Energy Technologies Lucia Tian said the company is committed to backing solutions that serve both its data-center capacity needs, as well as accelerate progress toward cleaner, more affordable energy systems.
"This collaboration with MN8 and Eos aims to deploy a smart portfolio of round-the-clock technology solutions to help power our digital infrastructure, while creating meaningful economic benefits for West Virginia," she said.