The global investor search conducted by Apricum The Cleantech Advisory on behalf of its client Eos, an American energy storage company with a leading cost position for grid-scale battery systems, results in the successful signing of Korean strategic investor OCI.
Eos has already demonstrated the viability of its technology, an innovative zinc hybrid cathode-based technology. The USD 23M round C equity financing was led by financial investor AltEnergy LLC. Next to OCI, other investors in the round included NRG Energy and Fisher Brothers, prior investors in Eos.
OCI with a revenue of USD 2.2B produces and markets inorganic chemicals, fine chemicals, petrochemicals and insulation chemicals, and is one of the largest global producers of solar grade silicon. OCIs strategic investment in Eos represents further expansion into the renewable energy industry, building on its current production of polysilicon and solar cells, as well as the development of solar power projects.
"Apricum played a crucial role in the final close of our successful Series C equity raise by bringing in a key strategic investor, which diversifies our investor base. Apricum's team is world class and their network of global relationships to decision makers of major strategic companies is very impressive and made all the difference." said Michael Oster, CEO of Eos Energy Storage.
We are pleased to have brought together two leaders in their fields, which now enables the commercial delivery of Eos energy storage system. At a cost point of USD 160/kWh, it truly has the ability to be a game changer in the industry said Apricum Principal Florian Mayr.
Apricum acted as financial advisor to Eos working closely with the companys management from investor identification to negotiation and closing.
http://www.apricum-group.com/press-release-apricum-secures-korean-investor-oci/
