FlexGen secures $75m credit facility, partners with zinc battery maker Eos

Energy management software developer FlexGen Power Systems, LLC, has secured a $75 million revolving credit facility from four major lenders.

The announcement of the funding package – from JP Morgan, First National Bank of Pennsylvania, Spain’s Banco Santander, and Paris-headquartered BNP Paribas – comes on the heels of a joint development agreement signed with aqueous zinc battery maker Eos Energy Enterprises Inc. which the latter said could open up a 50 GWh-plus energy storage market opportunity.

Durham, North Carolina-based FlexGen said its Hybrid OS energy management system (EMS) had deployed more than 8 GWh of energy storage capacity.

Announcing the credit line, FlexGen CEO Kelcy Pegler said, “The rapid expansion of AI [artificial intelligence] and cloud computing is driving unprecedented growth in data center power demand. This trend, combined with the broader energy transition, makes reliable and intelligent energy storage solutions more critical than ever for maintaining grid stability. This [credit] facility represents a significant milestone for FlexGen as we continue to lead the way in enabling the modern grid.”

The development agreement signed with Eos Energy Enterprises Inc., during the final days of the Joe Biden presidency, involves pooling potential customer bases and rolling out an integrated energy storage system featuring Eos’ zinc-based Z3 batteries, FlexGen’s Hybrid OS software and US-sourced inverters and transformers in what New Jersey-based Eos described as “America’s first fully-integrated domestic[-manufactured] BESS [battery energy storage system].”

Eos’ self-contained Z3 battery modules feature the company’s Znyth zinc hybrid cathode technology; an aqueous electrolyte comprising water, halides, additives, and buffering agents which Eos claims eliminates the dendrite formation which can hamper flow batteries; and bipolar electrodes.

The battery maker says its long-duration energy storage products, which have three- to 12-hour storage capacity, are a made-in America, non-flammable, fully-recyclable alternative to lithium-ion stationary storage products. The company says its zinc batteries last at least 20 years.

Eos added, the resulting energy storage solution can be deployed on a customer-side, “behind the meter” basis as well as in utility-scale applications.