Benzinga | Jun 21, 2021 09:07AM EDT

Eos Energy Enterprises To Be Included In Russell 3000 Index On June 28

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-powered energy storage systems, today announced it will join the broad-market Russell 3000(r) Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.



The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. Membership in the US all-cap Russell 3000(r) Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(r) Index or small-cap Russell 2000(r) Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

"The inclusion of Eos in the Russell 3000(r) Index marks an exciting milestone for our company and is a testament to the market reception to our technology and the tremendous opportunity we have in front of us," said Sagar Kurada, Chief Financial Officer of Eos. "We are pleased to be listed among the distinguished companies in the Russell indexes and look forward to deeper engagement with investors and other key stakeholders."

Eos is a leading manufacturer of long duration (3-12 hour) energy storage solutions featuring its proprietary Zynth(r) technology. This zinc-powered battery addresses the variability of renewable energy sources by providing reliable power to applications across the energy supply chain, including utilities, and industrial and commercial sites. Eos's Pittsburgh-based manufacturing facility, suite of support services and majority domestically sourced supply chain, enable it to scale up its production to serve the needs of customers and communities around the world. In its Q1 earnings call, Eos reported more than 200 MWh of orders backlog and 265 MWh of discharged energy, equating to approximately 2 million operating cycles since 2016.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000(r) Index and the Russell indexes reconstitution, please visit the "Russell Reconstitution" section on the FTSE Russell website.