Frontier Power USA Welcomes $50 Million Investment from Hudson Bay Capital as Part of a $125 Million Hudson Bay Commitment in Support of FPUSA

NEW YORK, June 30, 2026 (GLOBE NEWSWIRE) -- Frontier Power USA (“FPUSA” or the “Company”), a long-duration energy storage development and investment platform, today welcomed a $50 million direct equity commitment from Hudson Bay Capital Management LP (“Hudson Bay”) into FPUSA, subject to certain conditions, as part of a broader $125 million Hudson Bay commitment in support of the Company. The remaining $75 million comprises an investment by Hudson Bay into Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”) to support Eos’s investment in FPUSA.

The Hudson Bay investment is additive to the previously announced $100 million commitment from Cerberus Capital Management and Eos’s expected contribution, which it intends to fund, as previously announced, through a proposed $150 million rights offering, assuming full subscription. The commitment brings FPUSA’s expected equity investment up to approximately $375 million, and under FPUSA’s planned financing model, that equity base is expected to support more than $1.5 billion of deployable project capital.

The market for U.S.-manufactured long-duration energy storage continues to expand as customers seek dispatchable solutions that improve grid reliability, support rising power demand and enhance energy security. As projects advance toward construction, developers increasingly require integrated platforms that combine development, manufacturing, financing and execution under one banner. FPUSA was purpose-built to meet that need, and the additional capital supports strong customer demand and the continued expansion of FPUSA’s project pipeline.

FPUSA is advancing a robust pipeline of approximately 16 GWh of long-duration energy storage projects across key U.S. markets. Of this pipeline, approximately 2.7 GWh represents high-probability conversion opportunities, including approximately 1.2 GWh expected to be ready to sign. A portion of those projects is anticipated to reach notice to proceed in the near term, creating immediate opportunities for capital deployment.

These projects are being developed, financed and operated through FPUSA using Eos Z3™ technology. FPUSA has engaged KKR Capital Markets to build a scalable financing framework and has structured its portfolio to benefit from a $1.5 billion technology performance insurance policy from Ariel Green.

“This investment reflects the confidence our partners have in both the market opportunity and FPUSA’s ability to execute,” said Aaron Maczonis, Managing Director at Cerberus Capital Management. “FPUSA was designed to attract third-party capital into long-duration energy storage projects. The addition of Hudson Bay further validates the platform and expands our ability to finance and develop a growing portfolio of projects. As our pipeline continues to mature, bringing in institutional investors allows us to accelerate deployment while creating a scalable model for long-term growth.”

“FPUSA was built to solve one problem: financing long-duration storage fast enough to match demand,” said Joe Mastrangelo, Eos Chief Executive Officer. “Most projects stall between contract and construction because financing can’t keep pace. Hudson Bay’s investment closes that gap, bringing FPUSA’s equity base up to approximately $375 million and enabling the acceleration of project deployment. The FPUSA management team is well positioned to put this capital to work accelerating adoption of Eos’s zinc-based technology.”

About Frontier Power USA

FPUSA is a long-duration energy storage development and investment platform focused on accelerating the deployment of utility-scale battery infrastructure across the United States. Formed through an anchor investment by funds and accounts managed by Cerberus Capital Management, the platform integrates development, committed manufacturing capacity, institutional capital, and insured performance under a single banner, allowing development-stage pipelines to convert into construction-ready assets and compressing the time from project commitment to commercial operation. Learn more at frontierpowerusa.com.

About Eos Energy Enterprises

Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious-earth components, that is a safe, secure, stable, and scalable alternative to conventional technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours), and provides customers with significant operational flexibility to effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Contacts

FPUSA

support@frontierpowerusa.com

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