Eos Energy Filing Raises “Going Concern” Doubt for Battery Maker
- History of losses cited for “substantial doubt” warning
- Battery firm also reveals DOJ probe on customs payments
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Eos Energy Enterprises Inc. warned it faces “substantial doubt” about continuing as a going concern over the next 12 months as the advanced battery maker pushes to ramp up production.
Eos, which makes long-duration batteries for the electricity grid, cited its history of losses and negative cash flows in the going-concern warning in a filing late Friday. The Edison, New Jersey, based company is expanding its factory near Pittsburgh and said it would need additional capital to execute its plans.