Eos Energy Enterprises, Inc.

PART I

ITEM. 1 BUSINESS

General

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”, “we,” “us,” “our,” or “Company”) is an American energy company and America’s leading innovator in designing, manufacturing and providing zinc-based battery energy storage systems ("BESS"), sourced and manufactured in the United States. The Eos BESS are safe, non-flammable, secure and sustainable alternatives to lithium-ion batteries, making them ideal for utility-scale, microgrid and commercial and industrial long-duration applications.

The Company designs, develops, manufactures and markets zinc‑based energy storage systems intended for utility‑scale, microgrid and commercial and industrial (“C&I”) applications. The Company believes its technology serves as a viable alternative to lithium‑ion (“Li‑ion”) batteries for long‑duration energy storage use cases.

The Company has developed a broad intellectual property portfolio, including multiple patents covering its battery chemistry, mechanical product design, energy block configuration and proprietary software operating system, the Battery Management System (“BMS”). The BMS incorporates Eos‑developed algorithms and utilizes ambient and battery temperature sensors, as well as voltage and current sensors for electrical strings and system‑level monitoring.

The Company currently focuses on the manufacture and sale of turnkey direct current (“DC”) battery energy storage systems and plans to expand its product portfolio to include turnkey alternating current (“AC”) systems. The Company’s primary applications include:

(a) integration with renewable energy systems that are connected to the utility grid;

(b) integration with renewable energy systems that are not grid‑connected;

(c) deployment in systems designed to relieve grid congestion; and

(d) installations that enable C&I customers to reduce peak energy usage or participate in utility ancillary and demand‑response markets.

These applications are increasingly relevant as overall electricity demand continues to rise, including incremental load growth associated with the expansion of artificial intelligence ("AI"), high‑performance computing ("HPC") and data center infrastructure, which is contributing to greater system capacity needs and grid‑level constraints.

The Company operates a manufacturing facility in Turtle Creek, Pennsylvania, which produces DC energy blocks incorporating the Company’s BMS. The Company also maintains a facility in Warrendale, Pennsylvania, which is not currently operational and is expected to become operational in 2026. Currently, the Company’s primary geographic market is North America, and the Company operates as one operating and reportable segment.

Principal Products and Services

The Company provides an innovative Znyth™ battery energy storage system (“BESS”) engineered to deliver the operational flexibility needed to address rising grid complexity and price volatility. These challenges are being driven by the rapid expansion of renewable energy generation, accelerating electricity demand, including significant increases tied to the growth of artificial intelligence and data center activity and the resulting congestion across the power grid. The Company’s BESS utilizes a proven chemistry made from abundant, non‑precious earth materials in a robust design capable of maintaining performance in extreme temperatures and harsh environments. The system is built for safety, flexibility, scalability and sustainability, and is manufactured in the United States using raw materials primarily sourced domestically. We believe the Company’s Z3 battery module serves as the foundation of its advanced systems. The Z3 module is currently the only U.S.-designed and manufactured battery module that offers utilities, independent power producers, renewable developers and C&I customers a viable alternative to lithium-ion and lead-acid monopolar batteries for critical 3‑ to 12‑hour, or longer, discharge-duration applications. We believe the Z3 battery is reshaping how utility, industrial and commercial customers store and manage power.

In addition to its BESS, the Company currently provides:

(a) a battery management system (“BMS”) that enables remote asset monitoring and analytics to assess the performance and health of the Company’s BESS and to identify potential future performance issues through predictive analytics;

(b) project management services designed to coordinate the installation and integration of the Company’s BESS within a customer’s broader project plan;

(c) commissioning services intended to verify that the customer’s installation of the BESS meets expected performance requirements; and

(d) long‑term maintenance programs designed to support sustained, optimal operating performance of the Company’s systems.

Availability of Raw Materials

The Company procures materials from various third parties and across commodities, including chemicals and substrates, fabricated metal products, plastics, electronics and electrical components. We use both domestic and international raw materials suppliers to create our current Z3 battery module. We will continue to focus on domesticating our supply chain in an economically sustainable manner.

While we believe we have sufficient sources for the materials, components, services and supplies used in our manufacturing activities, we are highly dependent on the availability of essential materials, parts and subassemblies from our suppliers. The predominant raw materials that are required for our Z3 battery product are zinc halide salts, felt, resin, titanium and conductive polymer.

The Company effectively manages its supply chain through close relationships with key suppliers. We engage in formal agreements with our strategic supplier partners and continually look to implement strategies and opportunities to ensure a resilient supply network.

Additionally, based on the latest Internal Revenue Service ("IRS") guidance, the Company believes that our current Z3 battery module feature raw materials sourcing sufficient to qualify for the Domestic Content Bonus awarded by the Inflation Reduction Act’s ("IRA") tax credits.

Industry Overview

We believe the energy storage industry has become a critical component of modern electricity infrastructure. The Company’s solutions support the evolving needs of the power sector and complement existing resources in meeting growing global demand for reliable and flexible energy. As electricity consumption increases, driven in part by the rapid expansion of AI, HPC and data center infrastructure, energy storage plays an essential role in enhancing grid stability, providing capacity support and improving system resilience.

The global market for energy storage continues to demonstrate strong growth, supported by the rising need for grid reliability, increasing system capacity requirements and advancements in storage technologies. We believe the market is positioned for meaningful expansion over the next decade. Key industry growth drivers include grid modernization initiatives, cost reductions across storage technologies, increased electrification and a growing focus on energy security.

Government policies, subsidies and incentives in certain countries are further supporting the development and deployment of energy storage solutions. In the United States, the Department of Energy (“DOE”) has long supported energy storage research and development, and several states have implemented mandates or incentive programs to promote broader adoption.

Energy storage remains a rapidly evolving sector that we believe is foundational to the future of global energy systems. The Eos Z3 BESS offers a differentiated long‑duration solution that can serve as standalone storage and help address capacity constraints and infrastructure challenges across the electricity grid. We believe the technology, safety characteristics, and wide operating range of our BESS position it as a durable and reliable asset for grid operators and customers.

Strategy

The Company continues to invest in the design, development and production of its next‑generation product, the Eos Z3 battery. The Z3 builds upon the same underlying electrochemistry the Company has utilized for nearly a decade. The Eos Z3 is engineered to reduce cost and weight while improving manufacturability and overall system performance. Compared to the Company’s prior Gen 2.3 product, the Z3 incorporates a more cost‑effective design, including a simplified tub structure, approximately 50% fewer cells, and approximately 98% fewer welds per battery module. The Company believes the Eos Z3 will provide customers with approximately twice the energy density per square foot while maintaining the safety and reliability characteristics of the previous generation.

The Company has successfully transitioned to the Eos Z3 platform, enabled by the commissioning and commercial operation of its first fully automated battery manufacturing line. The Z3 leverages the same proven underlying chemistry, which has demonstrated durability over more than 3 million cycles, while incorporating a redesigned mechanical architecture that enhances performance, reduces costs and improves manufacturability. Z3 battery modules have been shipped since the third quarter of 2023, and the transition reflects over fifteen years of accumulated insights and operational experience. The Company believes this experience will continue to drive manufacturing efficiencies as production scales and its state‑of‑the‑art operations expand.

In 2025, the Company introduced DawnOS, a software platform designed to enhance the value, reliability and safety of the Company’s BESS. DawnOS builds upon the Z3 battery architecture through a fully integrated hardware and software solution. It serves as the system’s intelligence layer and is designed to manage large numbers of battery modules in real time. The platform provides precise balancing, dynamic switching and continuous system operation, including in situations where individual modules within a string become imbalanced. DawnOS is intended to increase usable energy per cycle, reduce field service requirements and operate with embedded security and automation features. Through its advanced control capabilities, the Company expects DawnOS to be an integral component of its product portfolio going forward, reflecting its role in improving system resilience, efficiency and overall operational performance.

In 2026, the Company introduced Eos Indensity, an energy storage architecture that uses a spatial intelligence design framework to provide high density storage with flexibility and safety in constrained as well as traditional sites. The system targets up to 1 GWh per acre, roughly four times most incumbent footprints, through stackable Indensity Core units that integrate Eos Z3 battery modules with the Eos DawnOS controls platform. The modular self contained form factor enables efficient transport, simplified installation and long term serviceability. Eos Indensity can be deployed indoors or outdoors, including inside existing buildings. It addresses long duration, response driven use cases across data centers, military bases, manufacturing facilities and critical infrastructure, supported by a domestic FEOC compliant supply chain. The Company expects Indensity to be an integral component of its product portfolio going forward.

The Company believes that the simplicity, flexibility and safety characteristics of its products represent important attributes valued by the market. In addition, the Company benefits from legislative incentives, including the Inflation Reduction Act and the One Big Beautiful Bill Act ("OBBBA"), which provide production tax credits (“PTC”) for domestically manufactured battery components, as well as tax credits available to customers for projects that satisfy domestic content requirements (see “Regulations” in Item 1 – Business). The Company also intends to continue working with a consortium of community organizations, universities and supply chain partners to pursue available funding opportunities under the Bipartisan Infrastructure Law of 2021.

Market Trends and Opportunities

The Company believes the rapid adoption of AI, HPC and data‑intensive technologies is creating significant new demands on global power infrastructure. As AI models grow in scale and data centers expand at an unprecedented pace, energy systems must be equipped to manage increasingly complex load profiles and heightened reliability requirements. The Company sees this shift as a major opportunity for advanced, resilient energy storage solutions that help stabilize grids, support peak demand and ensure uninterrupted power for mission‑critical computing.

Historically, most energy storage deployments have relied on short‑duration systems capable of providing less than four hours of power. The Company anticipates that the next generation of digital infrastructure, particularly

AI‑driven facilities and high‑density compute environments, will require mid‑duration (6–12 hour) BESS capable of managing sustained load fluctuations and alleviating capacity constraints.

The Z3 battery is uniquely positioned to serve this emerging market. It is composed primarily of five earth‑abundant, readily available raw materials with well‑established supply chains, enabling the Company to continue driving down costs as production scales. Although lithium‑ion is currently the installed base leader, zinc‑based batteries are gaining traction in applications prioritizing safety, abundant/recyclable inputs and flexible duration performance under demanding cycle conditions.

Safety is a core strength. As concerns grow regarding lithium‑ion battery risks, such as thermal runaway, fires and explosions, the Company’s non‑flammable, inherently stable chemistry offers a compelling alternative for environments where reliability and safety are paramount. This includes data centers, AI compute campuses and other facilities requiring continuous, secure and risk‑mitigated power. The Z3 technology avoids the failure modes associated with lithium‑ion electrolytes, providing a significantly enhanced safety profile and supporting the Company’s commitment to delivering dependable and robust energy storage solutions.

Intellectual Property

The success of our business depends, in part, on our ability to maintain and protect our proprietary technology, information, processes and know-how. We rely primarily on patent, trademark, copyright and trade secret laws in the United States and similar laws in other countries, confidentiality agreements and procedures and other contractual arrangements. These patents are subject to regulatory approval by the respective governing entity where the patent was filed. A majority of our patents relate to cell chemistry, architecture and battery mechanical design, system packaging and BMS. We continually assess opportunities to seek patent protection for those aspects of our technology, design, methodologies and processes that we believe provide significant competitive advantages.

The Company periodically assesses its patent portfolio in relation to the patents’ utility and materiality to the current operation and future strategy of the business and abandons applications or ceases to maintain patents which are deemed immaterial to our current or future business operations. As of December 31, 2025, we have 31 patent families and 202 patents pending, issued, or published in 30 countries, protecting our technology and system architecture. The Company's key patents, related to its most recent generation product and future products, are not scheduled to expire until 2035 or later.

In addition, the Company relies on trade secret protection and confidentiality agreements to safeguard our interests with respect to proprietary know-how that is not patentable and processes for which patents are difficult to enforce. We believe that many key elements of our manufacturing processes involve proprietary know-how, technology or data that are not covered by patents or patent applications, including technical processes, test equipment designs, algorithms and procedures. All of our research and development personnel have entered into confidentiality and proprietary information agreements with us. These agreements address intellectual property protection issues and requires our employees to assign to us all of the inventions, designs and technologies that Company personnel develop during the course of their employment. We also require our customers and business partners to enter into confidentiality agreements before we disclose any sensitive aspects of our technology or business plans.

Regulations

Governmental Programs and Incentives

Globally, both the operations of our business by us and the ownership of our products by our customers are impacted by various government programs, incentives and other arrangements.

On November 26, 2024, the Company entered into a note purchase agreement with the United States Federal Financing Bank ("FFB") and the United States DOE Loan Programs Office (“LPO”) ("DOE Loan Facility") pursuant to which, among other things, the DOE provided a guarantee of the Company’s (x) obligations to repay the term loan borrowings provided by the FFB to the Company and evidenced by a future advance promissory note (the “FFB Promissory Note”) and (y) the Company’s other obligations owing to FFB in respect of such guaranteed loan, and in connection and concurrently therewith, the Company entered into a Loan Guarantee Agreement with the DOE (collectively, such agreements provide for a multi draw term loan facility, the DOE Loan Facility), marking the first Title XVII battery loan closed. The DOE Loan Facility is a key step in advancing the Company's Project American Made Zinc Energy ("AMAZE") and is expected to fund the expansion of Eos’ manufacturing capacity to 8 GWh by 2027 to meet the growing demand for longer duration battery energy storage systems. The DOE Loan Facility provides for up to $303.5 million in funding, including capitalized interest.

The DOE Loan Facility provides for a multi draw term loan facility under a series of at least two and, if the Company elects, up to four tranches of the loan (each, a “Tranche”), subject to the achievement of certain funding conditions, with each Tranche corresponding to the production, maintenance and development and operation of a given production line to be funded using the proceeds of such Tranche and the principal amount of each Tranche consisting of a maximum principal amount designated for such Tranche in the DOE Loan Facility. Each Tranche provides the Company funding for 80% of the Eligible Project Costs (as defined in the DOE Loan Facility) associated with the corresponding production line, with the Company responsible for funding the remaining 20% of the Eligible Project Costs.

As of December 31, 2025, the Company had drawn down $90.9 million under the DOE Loan Facility, utilizing the full commitment available for Tranche 1. The initial draw of $68.3 million was made at an interest rate of 4.791%, for eligible project costs incurred through December 6, 2024. The second draw of $22.7 million was made at an interest rate of 4.286%, for eligible project costs incurred through June 4, 2025. These costs represent Tranche 1 that provided $90.9 million for eligible costs in connection with the design, construction, installation, startup and shakedown of a battery automation line and related tools, with a projected annual production capacity of approximately 1.25 GWh ("Line 1"), as defined in the DOE Loan Facility.

For further discussion, see Note 13, Borrowings, to the Consolidated Financial Statements.

Inflation Reduction Act of 2022

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. The IRA has significant economic incentives for both energy storage customers and manufacturers for projects placed in service after December 31, 2022. One of the most important features of the IRA is that it offers a 10-year term tax credit, whereas historically similar industrial credits have been shorter in duration. Customers placing new energy storage facilities in service, which include our Gen 2.3 and Z3 BESS, could qualify for investment tax credit (“ITC”). The IRA also offers an extra ten percent credit if the project is in an “energy community” and another ten percent credit if the project satisfies domestic content requirements, which have been set forth. The ten percent bonus for domestic content could represent a strategic advantage for the Company resulting from the Company’s near-sourcing and Made in America strategy, and we currently anticipate that projects utilizing Eos batteries will qualify for the bonus.

The Production Tax Credits under Internal Revenue Code 45X (“PTC”), can be claimed on battery components manufactured in the U.S. and sold to U.S. or foreign customers. These tax credits available to manufacturers include a credit for ten percent of the cost incurred to make electrode active materials in addition to credits of $35 per kWh of capacity of battery cells and $10 per kWh of capacity of battery modules. These credits are cumulative, meaning that companies will be able to claim each of the available tax credits based on the battery components produced and sold through 2029, after which the PTC will begin to gradually phase down through 2032.

One Big Beautiful Bill Act

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law, introducing several modifications to the energy-related tax incentives originally established under the Inflation Reduction Act. The OBBBA introduces new limitations related to the sourcing of materials from a prohibited foreign entity ("PFE") for taxable years beginning after July 4, 2025. These provisions restrict eligibility for credits where material assistance is received from such entities. Additionally, the PFE-related restrictions include ownership and effective control related provisions concerning 'specified foreign entities' and 'foreign-influenced entities'.

Competition

The markets for our products are competitive, and we compete with manufacturers of traditional Li-ion and other battery storage systems. Factors affecting customers when choosing from different battery storage systems in the market include:

•product performance and features;

•safety and sustainability;

•total lifetime cost of ownership;

•total operational costs related to auxiliary equipment;

•total product lifespan and degradation rate;

•power and energy efficiency;

•duration of the battery's storage;

•customer service and support; and

•U.S.-based manufacturing and sourced materials.

Our Znyth™ battery system competes with products from traditional Li-ion battery manufacturers and solution providers such as Fluence Energy, Panasonic, Samsung Electronics Co. Ltd., LG Chem Ltd., Tesla, BYD, Sungrow and Contemporary Amperex Technology Co. Limited. Our longer duration competitors include ESS Inc., Enervenue, Ambri and Form Energy. We believe that our current and next generation battery system offers significant technology, safety and cost advantages that reflect a competitive differentiation over Li-ion storage technologies.

Competitive Strengths

We believe the following strengths of our business distinguish us from our competitors and position us to capitalize on the expected continued growth in the energy storage market:

•Differentiated Product-The Company believes its Znyth™ BESS offers meaningful performance, safety and operational advantages over traditional lithium‑ion and flow battery systems. Unlike lithium‑ion cells, which must operate within a narrow temperature band to avoid thermal runaway, the Znyth™ BESS functions across a much wider range (-20°C to 50°C). This broad operating window reduces the need for costly thermal management systems, including HVAC and specialized fire suppression.

The Znyth™ BESS also features a static, modular design with no pumps or compressors, lowering maintenance requirements compared to flow batteries. In addition, its flexible charge and discharge capabilities support a wide range of durations and use cases. Lithium‑ion batteries typically have fixed rate parameters and may degrade when operated outside their design specifications, whereas Znyth™ technology is not subject to the same limitations.

Eos batteries are manufactured at zero voltage and zero percent state of charge, they avoid degradation associated with maintaining specific charge levels during idle periods, a requirement for lithium‑ion systems. The Company believes these characteristics position the Znyth™ BESS as a reliable, cost‑efficient and versatile energy storage solution.

•Minimal Supply Chain Constraints- All materials used in the production of the Company’s Z3 battery products are widely available commodity inputs with fewer supply‑chain constraints and limited competition from electric‑vehicle demand. In addition, most of these materials are recyclable through commercially established processes at end of life, supporting responsible material management.

•Proven Technology Solution in the Growing and Evolving Energy Storage Market- As the Company continues to scale manufacturing to gigawatt‑hour (“GWh”) capacity, it expects to benefit from continued growth in the global energy storage market, which BloombergNEF projects will reach approximately 7,250 GWh by 2035. The market is also shifting toward long‑duration energy storage (“LDES”) applications, reflecting the need for systems capable of supporting extended operational requirements. The Company believes its technology is well positioned to meet this demand. While lithium‑ion solutions are generally optimized for shorter‑duration applications, the performance characteristics of the Company’s batteries improve as storage duration increases, making the Z3 a strong fit for long‑duration use cases.

•Experienced Technology Team Focused on Continuous Innovation- The Company’s research and development team is responsible for advancing its technology platform and expanding and protecting its intellectual property portfolio. The Company believes that continued investment in research and development will support improvements in efficiency, energy density, functionality and reliability, while further reducing the cost of its battery solutions.

The Company is also focused on applying its technical expertise to enhance its BMS, broaden operating capabilities, and improve overall system performance. These efforts are expected to support the optimization of the Company’s energy management solutions, enabling operating parameters to be aligned with specific applications and expanding the range of use cases for the Znyth™ BESS.

•Established Global Sales Channels Anchored with Top-Tier Customers- We sell products directly to the electric utility industry and through sales channels to the commercial and industrial market. We continue to build relationships with new customers and enter into agreements to provide battery solutions to new customers.

•Strong management team-The Company has assembled an executive leadership team focused on the successful commercialization and scale‑up of the next‑generation Z3 battery product. The team brings decades of combined experience across the energy sector, including deep expertise in manufacturing, battery storage, and the execution of complex power and energy projects globally. This breadth of experience supports the Company’s ability to develop, manufacture and deliver systems at scale to meet the growing demands of the energy storage market.

Customers

Our customers include the following:

•Unity Scale renewable developers

•Independent power producers

•Industrial companies

•Microgrid developers

During fiscal year 2025, two customers individually accounted for 51.5% and 18.8% of our total revenue.

Environmental, Social and Governance ("ESG")

Eos is accelerating the shift to American energy independence by transforming how the world stores power in a safe, scalable, efficient and sustainable way. We are committed to advancing global sustainable development through our products, working to systematically grow our business to meet the challenges of the global energy transition and combat the global climate change. Additionally, the Company has not incurred significant costs to remain in compliance with environmental laws.

Our approach to ESG is intrinsically united to our four product themes: safety, scalability, sustainability and efficiency. As we continue to scale, we remain committed to driving progress across these themes.

Human Capital

As of December 31, 2025, we have 787 total employees, all of which are full-time employees. We have not experienced any employment-related work stoppages, and we consider relations with our employees to be good.

Our success is based on the focused passion and dedication of our personnel. We are committed to providing a positive and engaging work environment for our employees and taking an active role in the betterment of the communities in which our employees live and work. Our full-time employees are provided a competitive benefits program, including comprehensive healthcare benefits, a 3% non-elective employer contribution 401(k) plan, equity awards, discretionary bonus and incentive pay opportunities, paid time-off benefits, paid parental leave, wellness programs and periodic surveys.

Available Information

Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and all amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") are available free of charge on our investor website, located at https://investors.eose.com/, as soon as reasonably practicable after they are filed with or furnished to the Securities and Exchange Commission. Our reports are also available on the Securities and Exchange Commission's website at https://www.sec.gov/. The information on our website is not, and shall not be deemed to be, a part hereof or incorporated into this or any of our other filings with the SEC.

Information About Our Executive Officers

The following table provides information on our executive officers as of February 26, 2026.

Joe Mastrangelo has served as a director and the Chief Executive Officer since the closing of the Company’s business combination with B. Riley Principal Merger Corp. II in 2020. He joined EES LLC as a board advisor in March 2018 and assumed the role of Chief Executive Officer from August 2019 until the closing of the Business Combination. Before coming to Eos, Mr. Mastrangelo was president and chief executive officer of General Electric’s (“GE”) Gas Power Systems since September 2015. As an energy industry leader for the past two decades, Mr. Mastrangelo has extensive experience leading diverse teams to develop and deploy commercial-scale projects around the world. Mr. Mastrangelo has broad operating experience across the energy value chain including serving as Chief Executive Officer of GE’s Power Conversion business, applying science and systems of power conversion to increase the efficiency of the world’s energy infrastructure. Mr. Mastrangelo spent ten years with GE Oil & Gas, in leadership roles in finance, quality, and commercial operations, culminating in being named a GE Corporate Officer in 2008. Mr. Mastrangelo began his career with GE in the company’s Financial Management Program and then joined GE’s Corporate Audit Staff. Originally from New York, Mr. Mastrangelo earned a Bachelor of Science in Finance from Clarkson University and an Associate of Science, Business Administration and Management from Westchester Community College. Mr. Mastrangelo’s qualifications to serve on our board of directors include: his extensive experience in operations management at executive level positions, as well as his educational background in finance and business.

Nathan Kroeker joined Eos as Chief Financial Officer in January 2023. In March 2025, Mr. Kroeker transitioned to the role of Chief Commercial Officer. In this position, Mr. Kroeker is responsible for overseeing all commercial operations for the Company driving the Company’s growth by strengthening customer relationships and bankability, expanding the Company into new geographies, driving customer project financing, and ensuring that the Company’s offering is aligned with the diverse needs of its customer base. Prior to this role, Mr. Kroeker served as the Chief Financial Officer where he was responsible for the overall financial strategy and direction at Eos, overseeing all financial functions including controller, treasury, shareholder relations, accounting, tax, financial planning, and internal audit functions. Prior to joining Eos, Mr. Kroeker spent ten years with Spark Energy, a retail energy services company, serving as Chief Financial Officer and then as Chief Executive Officer. As Spark Energy’s Chief Executive Officer, he led the company through its initial public offering and subsequent mergers and acquisitions transactions. From 2009 to 2010, Mr. Kroeker served as Senior VP, Head of Energy Finance for Macquarie Bank, and from 2004 to 2009 worked for Direct Energy, a provider of home and business energy services, ultimately becoming VP of Finance. Mr. Kroeker began his career in public accounting with Coopers & Lybrand and Arthur Andersen, before transitioning into a transaction advisory role with Ernst & Young. Mr. Kroeker holds a Bachelor of Commerce in Accounting from the University of Manitoba and is a Certified Public Accountant.

Michelle Buczkowski joined Eos in 2024 and currently serves as Chief Administration Officer bringing nearly 20 years of experience in talent acquisition and development, workforce transformation, and organizational culture and communications. Prior to joining Eos, Ms. Buczkowski served as Managing Director, Human Resources at Duquesne Light Company from September 2021 through October 2024. Before her position at Duquesne Light Company, Ms. Buczkowski worked at PNC Bank where she held multiple positions including Vice President, Sr. Talent Manager from 2016 to 2020 and Vice President, Sr. Strategy and Planning Manager – Retail National Expansion from 2019 to 2021. Prior to her time at PNC Bank, Ms. Buczkowski held the position of Manager – Talent Strategies at Consol Energy. Throughout her career in and around Pittsburgh, one of the United States’ historic centers of industrial leadership, Ms. Buczkowski has led the alignment of people strategies with organizational goals, unlocking employee potential to drive corporate impact. Ms. Buczkowski graduated with a Bachelor's Degree from the University of Pittsburgh in Communication Studies/Business Management. Ms. Buczkowski currently serves on the board of United States Collegiate Athletic Association.