WASHINGTON, Aug 31 (Reuters) - Long-term energy storage company EOS Energy Enterprises (EOSE.O) has received a conditional commitment for an up-to $400 million loan guarantee from the federal government, an office of the U.S. Department of Energy said on Thursday.
The loan guarantee is for construction of four manufacturing lines to produce next-generation utility and industrial scalezinc bromine battery energy storage systems in Turtle Creek, Pennsylvania, the Loan Programs Office said.
EOS said the total cost of the project, called AMAZE, will be $500 million.
AMAZE is expected to create up to 50 union contractor construction jobs and as many as 650 new operations jobs when at full capacity, it said.
Reporting by Timothy Gardner Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
Persons:
EOS, AMAZE, Timothy Gardner, Marguerita Choy
Organizations:
EOS Energy Enterprises, U.S . Department of Energy, Office, Thomson
Locations:
Turtle Creek , Pennsylvania