Federal loan to support $500M expansion at Eos Energy's Mon Valley facility
New Jersey-based battery company Eos Energy is expanding at its Mon Valley facility and creating a $500 million program that elected officials say will create hundreds of jobs locally.
U.S. Rep. Summer Lee, D-Swissvale, announced Thursday that the U.S. Department of Energy has made a conditional commitment on a nearly $400 million loan to Eos Energy to support the AMAZE project at the company’s Turtle Creek facility.
Lee said the investment will help the company meet demand for Long Duration Energy Storage and will expand the local workforce at Eos, up to about 1,000 workers from more than 300 now. The project also will create 50 unionized construction jobs, Lee said.
“Our region can be a leader in this new, green economy and projects like AMAZE will make that a reality,” Lee said. “This investment and these jobs are just the start.”
The $500 million AMAZE project will build 8 gigawatt hours of clean energy storage production capacity, according to Eos. The company said it aims to move to 100% U.S-sourced material by 2026.
U.S. Sen. Bob Casey, D-Scranton, heralded the funding and said the Mon Valley is a great location to see growth in the clean energy sector.
“Pennsylvania has powered our nation for generations, so it’s no surprise that workers in the Mon Valley are going to lead the way on clean energy storage production,” Casey said in a statement.
Eos CEO Joe Mastrangelo said the federal Inflation Reduction Act, which includes $369 billion for climate change mitigation, is helping the battery-maker move to scale up energy storage capacity.
“Project AMAZE should allow Eos to fully commercialize a safe American-made energy storage alternative aimed at creating a resilient, diversified lower carbon energy future,” he said in a statement.
The Department of Energy loan will cover about 80% of the funding for the AMAZE project.
“If we are going to move more towards climate resiliency, we need government investments and government resources,” she said. “And it is possible.”
Ryan Deto is a TribLive reporter covering politics, Pittsburgh and Allegheny County news. A native of California’s Bay Area, he joined the Trib in 2022 after spending more than six years covering Pittsburgh at the Pittsburgh City Paper, including serving as managing editor. He can be reached at rdeto@triblive.com.
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