Eos Secures $75M Hudson Bay Investment, Boosts Frontier Power Equity to $375M

Eos received a $75 million equity infusion from Hudson Bay Capital and a conditional $50 million direct commitment to Frontier Power USA, joining Cerberus’s $100 million and Eos’s planned $150 million contribution via a rights offering, bringing FPUSA’s total equity base to approximately $375 million.

Under the planned financing structure, FPUSA’s $375 million equity base is positioned to back over $1.5 billion of long-duration energy storage projects at roughly 75% loan-to-value, leveraging a pipeline of about 16 GWh in key U.S. markets, including 2.7 GWh of high-probability conversion opportunities.

The rights offering grants existing shareholders and warrant holders the ability to subscribe to units priced at $5.481 each, with each unit consisting of one common share and 0.4388 of a warrant, provides over-subscription privileges, and sets a record date of July 1, 2026.

Eos plans to fund up to $150 million of its FPUSA contribution through the rights offering, preserving an economic stake in the joint venture, aligning institutional and shareholder interests, and driving deployment of its Z3™ zinc-based storage technology under dedicated manufacturing reservations.