1. Eos’ mission is to develop energy storage solutions that are less expensive than incumbent solutions used to provide the same service today—namely gas turbines for peak generation capacity and copper wire for delivery capacity
Eos is a technology development and commercialization company. We are not manufacturers and we don’t intend to become large-scale manufacturers; yet manufacturing and supply chain development/optimization is critical to our success as a company.
I hope to achieve 3 key objectives with my 10 minutes in the lime light:
Familiarize you with our technology and why it deserves your attention
Present Eos’ approach to manufacturing and our role in the energy storage supply chain
Discuss our path to commercialization and where you can help
Eos Energy Storage CREA Energy Innovations Summit | Denver, CO Philippe Bouchard, VP of Business Development

2. Ratepayers fund hundreds of $Bs of infrastructure to serve peak demand
Today’s Electricity Grid is Massively Overbuilt & Under Utilized…
Generation
Transmission
Distribution
# in U.S.
17,350 plants
164,000 miles
3 million miles
Utilization
47%
43%
34%
Projected spend
$505B
$298B
$582B
Projected underutilization
~$822B of future US infrastructure will be underutilized without storage
Ratepayers fund hundreds of $Bs of infrastructure to serve peak demand
Sources: “Electric Power System Asset Optimization.” NETL, March 2011; “The Power of Five Percent.” The Brattle Group, May 2007

3. Regional Spending on T&D Projects Completed by 2020 Heavily Weighted Towards the Rockies
~66% of projected infrastructure spend through 2030 is distribution system upgrades
Sources: “Electric Power System Asset Optimization.” NETL, March 2011; “The Power of Five Percent.” The Brattle Group, May 2007

4. Significant growth in energy storage industry has already begun
Energy storage market to reach ~$25B by 2022
2013 RFPs outstrip previously installed capacity
2013 energy storage announced RFPs exceed total current global installed non-hydro storage capacity (MW)
Battery Energy storage market projection
(GW)
($B)
2013 represents a~$4B market
confidential
Source: IHS “The Grid connected energy storage market” DOE Storage Database; Press searches

5. DC battery performance attributes
Eos Aurora Designed Specifically to Meet Market Requirements for Grid-Scale Storage
DC battery performance attributes
Low cost / kWh
$160/kWh
Long life (high # of cycles)
10,000 cycles (30 years)
Energy density
6MWh in a 40ft container
High energy efficiency
75% round trip efficiency
Safety
Non-hazardous, non-combustible v
Eos Aurora 1000|4000
Grid-Scale Energy Storage
Eos ZnythTM Sub-Module
Eos Aurora optimized to meet customer requirements and to provide lowest LCOE

6. Eos outcompetes gas peaking turbines on an LCOE basis
Levelized cost of energy is critical metric for adoption; Eos LCOE lower than incumbents and competitors
EOS
Eos outcompetes gas peaking turbines on an LCOE basis

7. Eos Partnering with Major Utilities on Business Case Driven Product Development & Demonstration
Optimize
Demonstrate
Deploy
Eos Genesis collaboration includes:
Detailed business case analysis to identify profitable opportunities for deployment
Testing and evaluation of Eos’ novel ZnythTM battery technology leveraging partner facilities and testing platforms
Pilot demonstration of Eos Aurora systems to understand real-world costs and to optimize value streams 
Together Eos’ Genesis Partners represent:
Customers
GW Generation
Miles of T&D
Countries 7

8. Powerful Business Cases for Storage
MW-Scale Grid-Connected 1
Behind-the-meter Storage 2
Electricity peak shifting (arbitrage)
Generation capacity
Transmission or distribution deferral
Ancillary services
Renewables integration premiums
Time of Use (TOU) energy management
Demand charge reduction
$2.1/W locational capacity program
Permanent Demand Reduction
Demand response program participation

9. Example: Grid-Connected ‘Triple Play’
Example Financials: 5 MW Eos Installation
Cost
Installed capital cost of ~$1,970 per kW
Annual operating cost = $200,000 per yr
~$10.1 M
Gross Revenues
(Avg Annual)
TOTAL per MW (10 yr period, ~70% RTE)
Average Energy Arb $ / MWh
Gen Capacity $ / kW – year
T&D Value $ / kW – year
~$2.7 M / yr
Financing assumptions: 75% 8.0%, 10 yr
All Equity
Leverage
IRR
After tax, residual value
23%
56%
Equity
Total of outlay + any negative cash flows
$10 M
$2.5 M
Payback
After tax, 10% discount rate
4 years
2 years
Eos installation creates 56% IRR and 2-year payback

10. Example: 50MVA Substation Deferral
Energy storage can be used on a targeted basis to provide locational capacity and to defer costly T&D upgrades, improving reliability and lowering costs for the utility / ratepayer A
T&D upgrade performed as usual; upfront Y1 spend B
Storage installed Y1 utility-owned, 5-year T&D deferral
Storage installed Y1, 10-year contract (developer monetizes market revenues) C
NPV: ($10.5M)
NPV: ($6.9M)
+ $10.3M addition to rate base
+ $16.1M addition to rate base
+$10.3M addition to rate base in Y5

11. Example Peak Load Shaving Battery / Load Profile

12. Example: Behind-the-Meter ‘Triple Play’
Example Financials: 100 kW Eos Install
Cost
Installed capital cost
Operating cost = ~$5,000/yr
$310,000
Gross Revenues (Avg Annual)
Assumes 10 yr period, ~70% RTE
Average Energy Arb ($/kWh)
↓Demand charge ($/kW-month)
Targeted DSM ($/kW installed)
$75,000
Financing assumptions: 50% 10%, 10 yr
IRR
After tax, residual value
23%
44%
Equity
Total of initial outlay + any negative cash flows
$310 K
$166 K
Payback
After tax, 10% discount rate
4 yrs
2 yrs
All Equity
Leverage
100 kW Project Concept Design
Eos low-cost, energy dense, and safe battery
flattens customer load while increasing resilience
Images and financial projections provided courtesy of Convergent Energy + Power

13. Behind-the-Meter Business Case July 2010
Demand Charge Reduction
2 Hour “Demand Response” Call
Balance charge / discharge profile to reduce the monthly peak without creating a new one

14. What We’re Hearing from the Solar Industry
First Solar CEO, Jim Hughes:
* Market cannot respond to falling solar prices because of structural limits:
Transmission capacity constraints
Grid stability issues
Load shape and growth
Utility resource planning cycles
* The key to long term growth is to solve for these constraints.
* Price alone won’t do it…
Critical question: What is the sustainable business model and where does storage fit in?
cleantechsummit.com
1) Jim Hughes, First Solar. Tomorrow’s Utility: The View from the Sun. CleanTech Investor Summit. Feb

15. Eos continues to make strong progress and will deliver first systems to Genesis partners in Q4 2014
2015…
2kW Modules
Internal Testing
Feb 2013
AC-Integrated System Q4 2013
Planned Pilot Projects
Con Ed
Q4 2014
GDF Suez
Q4 2014
Manufacturable Sub-Module Design
Q3 2013
3rd Party
Testing & Validation
Q2 2014
Commence
MW Genesis
Production
2014 Focus: Demonstrate kW-scale, test and optimize AC-integrated systems with Genesis partners, ramp up manufacturing 15

16. 2015 demonstration partners will have priority access to 2016 volume
Eos to Announce 2016 Commercial Product Offering and Aegis Program
In December, Eos plans to announce availability of its 2016 & 2017 commercial product (DC battery), also offered with full AC integration via Eos’ new Aegis Program
COMMERCIAL PRODUCT
Firm delivery of 1MW/4MWh systems available at $300/kWh for 2016 install and $160/kWh for 2017 install
1 year standard warranty; up to 5 yr warranty at additional cost
AEGIS PROGRAM
Establishes formal relationships with system integrators to provide AC- integrated, turn-key systems via multiple distribution channels
Aegis partners can provide warranty wrap and option for extended performance guarantee
Aegis partners to be announced in near future
Aurora 1000 | 4000
(DC battery system)
2015 demonstration partners will have priority access to 2016 volume

17.
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