US Battery Maker Eos Shares Jump as Firm Closes Federal Loan
- Company’s $303.5 million loan will fund new production lines
- DOE hurries to close loans before Trump takes office
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Battery-maker Eos Energy Enterprises Inc. closed a $303.5 million US federal loan guarantee — sending its shares sharply higher — as the Biden administration races to finalize billions of dollars in clean-tech loans before leaving office.
Eos shares jumped as much as 19% on the news, the biggest intraday gain since late August. The stock was trading up 3.1% at $2.98 as of 11:31 a.m. in New York.