Battery Maker With 720% Stock Gain Signs Early Data-Center Deal

Eos Energy Enterprises Inc., whose stock has surged more than 720% over the past year, has signed an initial pact with a large-scale developer of data centers as soaring power usage boosts demand for batteries.

The company is also working to close several other memorandums of understanding with data centers, Chief Executive Officer Joe Mastrangelosaid. He declined to name the firms. He said agreements with data centers make up about 30% of potential deals for Eos, which manufactures zinc-based batteries that connect to the grid.

Joe Mastrangelo

Photographer: Michael Nagle/Bloomberg

“Data centers’ number one cost is the power” to run their facilities, ...