Former First Solar CEO to Lead EOS Energy Storage

Former First Solar CEO to Lead EOS Energy Storage

Jim HughesEos Energy Storage – a safe, ultra-low cost Znyth battery major announces incumbency of former CEO of First Solar – Jim Hughes.

Joining as Chairman of the Board, Jim will be responsible to avant-garde the company from technology development to commercial manufacturing and product deployment.

The strategic appointment comes amid the company’s announcement of a $23M Series D equity financing and commencement of volume battery production with a multi-billion dollar contract manufacturing partner capable of meeting 100+ MW per year demand.

According to the information featured in RenewEconomy, Jim Hughes observes the tremendous progress made on cost over the last several years leaves energy storage looking remarkably similar to the solar industry around 5 years ago.

Jim said, “The cost reductions have been so rapid that I don’t think the broader energy industry yet recognizes the value it will represent as part of the system and that the economics of energy storage are not only competitive but have the near term potential to be disruptive.  Eos has focused on developing a technology and product that outcompetes the lithium ion incumbent, not just on dollar per kWh upfront capital cost but on the lifetime cost of energy delivered.  This is going to give Eos the ability to win significant market share and drive profitability. A sharp focus on cost, quality and challenging yourself to beat the toughest competition has proven to be a winning strategy time and again both in traditional energy and renewables.  Much as First Solar has proven that it can compete effectively with its differentiated thin-film solar photovoltaic (PV) modules against the leading players in crystalline silicon PV, I firmly believe Eos will demonstrate the same ability within the energy storage arena with its differentiated zinc hybrid (Znyth™) technology.”

The veteran’s prior experience is known to be pivotal for Eos new strategic growth.

Eos has vigorous plans to deliver cost-effective, safe grid-tied storage solution, its core product—the Eos Aurora 1000│4000—is a 1MW|4MWh DC battery system employing Eos’ aqueous, zinc-based Znyth technology.

“We are honored to work with Jim Hughes,” said Eos CEO Michael Oster.  “We have watched Jim take First Solar through market uncertainty to global leadership and profitability; We look forward to benefiting from his guidance and experience as we ramp up into volume manufacturing and utility-scale deployment.”

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